Radhika is the Co-founder of Tulyā, A Sustainability Management Accounting (SMA) Services company. Her work includes measurement and understanding of the impact environmental and social factors will have on the value creation for SMEs. She develops tailored tools and practices that integrate material topics (ESG & Business) with accounting statements line items to demonstrate financial impact of action vs inaction.
She has worked with Lehman Brothers, Barclays and IT services companies before starting her entrepreneurial journey in sustainability.
She is a graduate in Chemical Engineering and has been certified in SASB , PMP, CSM & Design Thinking-MIT.
The process was very organic for me. With my vocational training as a chemical engineer, I had my first brush with environmental pollution control through assignments on Renewable energy sources. Two decades back, the technological advances were such that very small fraction of these initiatives were profitable. In my last 18 years of professional experience into IT-digital, I gained my technical skills, by working on feasibility studies, proof of concepts, financial forecasting, resource allocation, AI/ML and Web 3.0 development.
But one that definitely brought my vocation and passion together was in 2019, when I was working on a concept note for Innovation Challenge Fund. The concept was to generate ESG Metrics for MSMEs to quantify net positive impact. This work gave me the opportunity to leverage tech in sustainability to understand and analyse operational efficiency and profitability. This paved my way to delve deeper into the subject of sustainability management accounting.
At Tulyā, our focus is on creating sustainable value for SMEs. We help companies measure and understand the impact of environmental and social factors on their ability to create value through Sustainability Management Accounting.
We provide a very simplified approach for SMEs to integrate sustainability into their business operations and strategy
SMEs play a very important role in the transition to a sustainable economy and their collective sustainability impact is significant. I am convinced that sustainability will affect SMEs' ability to create value over time and we want to help them to prepare for the new normal with less resources, more uncertainty, stricter regulations and demand for ESG data.
There are two types of challenges that we have come across:
a) As the External Reporting is moving from voluntary to mandatory across various regions, the new norms will trickle down onto SMEs and eventually drive them to adopt sustainable business models.
b) With various stakeholders being affected by the achievements of the organisation, the need to maintain a competitive edge, reputation, and the ease to work with MNCs would drive the SMEs to integrate Sustainability into their operations and overall business strategy.
a) In the given global landscape of frameworks and jargons, SMEs are finding it challenging with insufficient knowledge and information to take timely and right decisions. The adoption is more topical or need-based.
b) With minimal resources and support for sustainability initiatives, the efforts are unrealised
c) The assumption that sustainability initiatives impact on bottom line and very little data to prove otherwise.
As part of Tulyā's approach:
Though there are varying views as to whether capitalism can be reformed to address sustainability, I personally believe that when we become accountable for our actions, capitalism can be re-invented to deliver a sustainable future intrinsically. In this pursuit, it becomes imperative to understand the interconnected nature of the economic eco-system within which the organisations and society operate. If we can underscore our ideas and actions with the intent to work for the broader social good as well as seek profits, I believe that we can help accelerate this change.
I am very proud of the journey that I have travelled so far.
All the education, experience and passions I have gained along the way have empowered me to become the medium to build for a sustainable future, in my own small way.
This answer may be a bit philosophical than what may have been expected. I am most proud to have come this far donning various hats to build various tools, products and processes which in turn helped me build high performing teams and organisations. And now, I am in the process of enabling SMEs to achieve the same outcomes through Tulyā.
The only thing that is constant all along is my penchant for learning, and would love to continue to be on this path to create a sustainable future for my daughters.
SASB / SMA / Sustainability Strategy
Radhika kindly accepts to answer your questions.
If you need additional insights, you can send her a message.
Consulting > General consulting
Consulting > Standards & certification
Sustainable Finance & Accounting