Sustainability is one of the most impactful aspects of communications strategy: Aparna Garg

We are in a new era of Public Relations. In the last few years, the importance of reputation management has taken a sea change. More brands and clients, especially from the leadership teams, are viewing Public Relations from a close range. The industry has undergone a radical change with the advent of social media, which has to a large extent changed the approach to Public Relations. We have a relatively new and young audience that we need to face in the coming years so there are bigger challenges for brands and PR practitioners, who have to be more agile and proactive in their thinking to draw up business solutions for clients.

In our exclusive weekly column – PR Conversation – Adgully interacts with leading business leaders and obtains their exclusive views and insights on the various trends in the PR and communications industry.

In conversation with Adgully, Aparna Garg, Head - Investor Relations and Corporate Communications, Indian Energy Exchange, speaks at length about how communication differs on the energy company side, Indian Energy Exchange’s approach to crisis communication amid industry challenges, regulatory changes, sustainability initiatives, and more. Garg also highlights upcoming innovations and technologies in corporate communications that her company is exploring.

Given your experience in corporate communications and investor relations across different sectors, how does communication differ on the energy company side, and how are energy companies adapting their communication strategies to align with evolving industry trends such as sustainability, digital transformation, and regulatory changes?

The energy sector is evolving at a fast pace. There is a strong focus on renewable energy underpinned by technology. Sustainability is a key theme. The transition in the energy space is largely driven by global climate concerns. As a result, energy companies are adapting their communication strategies to reflect this changing paradigm, emphasizing their commitment to technological innovation and responsible business practices.

How have digital platforms and social media impacted how energy companies like IEX engage with stakeholders, including investors, consumers, and the general public?

Digital platforms and social media have profoundly transformed how energy companies engage with stakeholders, including investors, consumers, and the general public. Our social media strategy comprises leveraging platforms such as LinkedIn and Twitter to ensure transparent, real-time communication with our diverse stakeholders. These social media platforms serve as pivotal channels for disseminating crucial information. We regularly post updates on regulatory news, power prices, and weekly market summaries. The updates ensure our stakeholders are well-informed about market prices, industry trends and developments, which help them take balanced decisions. Our quarterly results posts offer an update of our financial performance, allowing existing as well as potential investors to track our growth and make informed decisions.

One of our standout initiatives is the ‘Mr. Watt’ series. Introduced as Mr. Watt, our in-house caricature, this campaign provides weekly insights into global electricity trends. Every Wednesday, we share trivia, quizzes, and updates, making complex information accessible and engaging. This initiative not only educates our audience but also fosters a deeper connection with them by adding an interactive element.

Additionally, we use these platforms to promote and share insights from seminars and webinars. These events provide valuable opportunities for engagement, fostering a deeper connection with our audience. We also ensure comprehensive information on our sustainability initiatives is available on our website, reinforcing our commitment to environmental responsibility. By consistently sharing content that highlights our focus on sustainability, technology advancements, and corporate social responsibility, we reinforce the narrative on IEX.

How does IEX approach crisis communication amid industry challenges, market volatility, or regulatory changes?

Our approach to crisis communication is proactive and agile, designed to effectively address and mitigate issues which emerge as we operate in a dynamic environment. We maintain a state of constant readiness, with established protocols and communication channels to respond swiftly and decisively to any situation that may impact our stakeholders or operations.

Transparency is paramount in our crisis communication strategy. We ensure timely communication of our stance to stakeholders through official company statements, interviews and investor communication, effectively managing and maintaining their expectations and trust. We also leverage various other channels for engaging with the stakeholders, including our website, social media platforms, and direct communications from the leadership team of IEX.

What are some upcoming innovations or technologies in corporate communications that IEX is exploring to stay ahead in the energy sector?

Technological advancements are revolutionizing how organizations connect with their stakeholders. Among these innovations, Artificial Intelligence (AI), Virtual Reality (VR), and interactive content are leading the way, offering unprecedented opportunities for companies to engage, influence, and build lasting relationships. This makes it imperative for the corporate communications team to explore these emerging trends, as they will redefine interactions with both internal and external stakeholders.

At IEX, we are committed to staying at the forefront of the energy sector by exploring and adopting emerging technologies.

How does IEX collaborate with industry partners, regulators, and communities to enhance transparency and build trust through its communication efforts? 

At IEX, we actively engage with industry partners, regulators, and communities through timely dissemination of information, workshops, international education tours, capacity-building exercises, and event participation. By sharing regulatory updates on social media and integrating key developments into media interviews, we ensure clear and timely communication.

Effective dissemination of pricing information is equally important. We provide regular updates to keep stakeholders informed about market trends. During quarterly investor calls, we offer detailed updates on regulatory developments and their implications. Our international relations efforts, including partnerships and global outreach, further reinforce our commitment to transparency and trust. Through these initiatives, we ensure our communication is informative and trustworthy across all channels.

Sustainability is a critical focus for the energy sector. How does IEX communicate its sustainability initiatives and progress to stakeholders and the public?

Sustainability is at the heart of everything we do at IEX, and we strive to engage our stakeholders and the public with meaningful initiatives. As India’s first carbon-neutral Power Exchange, we are proud to lead the way in using market-based tradable instruments to offset our carbon emissions.

On the business side, our Green market offerings, including RECs, Green Day-Ahead, and Green Term-Ahead segments, are aligned with India’s renewable energy ambitions and enable a more flexible and efficient renewable energy market. We run several campaigns to highlight the significance of these products.

We also run campaigns on key sustainability led global days. For example, our recent Spark Campaign, ‘Planet vs. Plastics’, ran from Earth Hour Day on March 23rd to Earth Day on April 22nd, 2024. This campaign featured powerful video messages on the impact of plastic production and the vital role of renewable energy in fostering sustainability. We shared informative tips and engaging polls, encouraging everyone to make eco-friendly choices and highlighting the urgency of protecting our environment.

Beyond these impactful campaigns, we make sure to communicate our major milestones clearly and effectively. For example, our recent partnership with Enviro Enablers India Private Limited (EEIPL) saw IEX acquiring a 10% stake in EEIPL. This strategic move underscores our dedication to sustainability and decarbonization.

We also recognize the importance of good corporate governance in maintaining trust, fostering transparency, and achieving sustainable growth for all. Aligned with this thought, we have dedicated a section on ‘sustainability’ on our website to effectively communicate our commitment towards ESG and CSR initiatives. We also prioritize minimizing our environmental impact, promoting fair employment practices, fostering diversity and inclusion, and upholding the highest standards of corporate governance and ethics.

Looking ahead, what emerging trends in corporate communication do you see as most impactful for the energy sector, and how is IEX preparing to address these trends?

In my view, ‘Sustainability’ is one of the most impactful aspects of communications in the energy sector. Stakeholders are laying emphasis on companies' efforts on environmental, social and governance practices. At IEX, we are enhancing our communication strategies to transparently showcase our sustainability goals and achievements through digital platforms, meeting evolving stakeholder expectations.

Another critical trend is the integration of digital transformation and technology in communications. We may look at exploring AI-driven tools to analyse market trends, personalize content, and optimize engagement across platforms like social media and webinars.

Besides, diversity, equity, and inclusion are central as well to our communication efforts. Through internal campaigns and external communications, we highlight our commitment to fostering an inclusive workplace culture. Enhancing our digital infrastructure and conducting virtual events such as webinars and seminars further ensure continuous engagement and collaboration with stakeholders globally.