New Delhi, June 18 -- In May 2018, Thoothukudi, a port city in Tamil Nadu, erupted in protests over pollution caused by the Sterlite Copper factory, a unit of mining giant Vedanta. The protests turned violent and 13 lives were lost to police bullets. The plant was shuttered by the courts, but the incident raised questions about how a London- and Mumbai-listed conglomerate, which had good environmental, social and governance (ESG) ratings and glossy sustainability reports failed so miserably on the ground.

It was not an isolated event, nor was it about just one irresponsible company. In June 2023, a toxic gas leak at a chemical plant in Gujarat hospitalized 24 people and triggered panic in Dahej, an industrial town. Deepak Nitrite, a Mumb...