Aspire Circle, Aspire Impact Launch ESG Framework for FMCG Sector

Mumbai, September 05, 2026: Aspire Circle and Aspire Impact have launched “Fast Moving Consumer Goods: An ESG Performance Framework”, a sector-specific framework designed to help companies assess environmental, social and governance (ESG) risks and opportunities across India’s FMCG sector.

The publication, developed under the Impact Future Project (IFP), brings together 19 senior ESG, sustainability and business leaders to establish an approach for measuring ESG performance across the sector. The framework is supported by Capgemini.

India’s FMCG sector generated USD 245.4 billion in revenue in 2024 and is projected to reach USD 615.9 billion by FY2027, according to the publication. The sector serves more than 1.4 billion consumers.

Rather than relying on a single blended ESG score, the framework assesses ESG Risk and ESG Opportunity separately. It combines sector-agnostic KPIs with FMCG-specific indicators across Personal Care, Household, Food Products and Diversified FMCG.

The assessment covers areas including emissions, energy, water, packaging, product lifecycle, responsible sourcing, employee health and safety, customer impact, governance and ethical conduct. Key risk areas identified include packaging waste, water stress, energy-intensive manufacturing, supply-chain traceability, sustainable sourcing, product quality and safety, responsible marketing and natural resource stewardship.

The framework also identifies opportunities in areas such as circular packaging, renewable energy, refill and reuse models, ethical sourcing and regenerative agriculture. A 2×2 Risk–Opportunity quadrant is used to position companies based on their respective risk and opportunity scores and track the direction of their ESG performance.

Amit Bhatia, Founder, Aspire Circle and Aspire Impact, said, “India’s USD 245 billion FMCG sector reaches over a billion consumers every day, giving it a unique ability to turn everyday choices into large-scale climate and social impact. Our ESG framework, with separate Risk & Opportunity ratings and both sector-agnostic and sector-specific KPIs, lets FMCG companies benchmark themselves against peers and translate ESG intent into measurable, comparable action.”

Prabha Narasimhan, Managing Director & CEO, Colgate-Palmolive (India) Limited, said, “As the FMCG sector touches billions of lives every day, we have a unique opportunity and responsibility to make sustainable choices more accessible and impactful. At Colgate-Palmolive India, our experience of embedding ESG across our products, operations and communities has shown us the value of clear, measurable goals and collective action. Through our 2030 SMILE Strategy, we are advancing climate action, circularity, oral health and community impact..”

The FMCG framework is the latest in IFP’s planned series of 12 sector-specific ESG performance frameworks. Earlier frameworks have covered industry-agnostic ESG KPIs, Financial Services, Healthcare, Information Technology and Utilities.

Anurag Pratap, VP & CSR Leader, India, Capgemini, said, “We believe the time has come to mainstream the principles of an Impact Economy. The Impact Future Project is playing a significant role in accelerating this vision by fostering greater awareness, encouraging collaboration, and bringing together diverse stakeholders to drive meaningful action towards a more sustainable and inclusive future.”

The framework is supported by IKOO World, Aspire Impact’s digital platform for ESG, Sustainability and Impact Assessments and benchmarking, which includes data for more than 750 organisations.