Governance, sustainability key challenges for corporates: Kamal Nath

NEW DELHI: Urban Development Minister Kamal Nath today said governance and sustainability were the two challenges the corporates faced these days and not just shareholders but the society as a whole had expectations from them.

"The companies responding better in the ever-increasing complexity of business" are constantly replacing those which fail to do so.

"The two key complexities which I see today are the challenges of corporate governance and sustainability. Corporates that aspire to survive will meet these challenges," Nath said.

The Urban Development minister was speaking at a function organised to grant Corporate Governance and Sustainability Awards by the Indian Chamber of Commerce.

Nath said he expected that Companies Act would soon be a reality.

"With the new Companies Act on the anvil, there is a paradigm shift from control to responsibility. It is not just government control, we are legislating what is desirable," he said.