FBR - Ist Issue
1
conference Review Review Review of Sustainability Summit 2013 As the corporates across the globe try to find their foothold and re-focus on the growth path after a substantial period of stagnation or decline, sustainable growth as a concept has come to the fore front. Sustainability has three major parameters: Economic sustainability, Environmental sustainability and Societal sustainability. In the recent years there has been a significant rise in the incorporation of a number of sustainable business ventures as well as an increasing inclination to incorporate sustainability as a part of core business functions. In line with this theme, FIIB organized a Sustainability Summit on the birth anniversary of its late founder Mr. R. K. Shrivastava, which was attended by more than hundred participants. The key note speech was delivered by Ms. Anita George, the Regional Industry Director, Asia Infrastructure and Natural Resources at the International Finance Corporation (IFC), the Private Sector arm of the World Bank. She said “Sustainability is not just about here and now, but how the here and now can be sustained for the future generation”.She further referred to various initiatives that IFC has funded to catalyze greater private sector contribution to sustainable development. India is IFC's one of the largest portfolio with over $3.9 billion investments for the fiscal year 2012. It is aimed to improve access to power for 362,000 customers, reach 370,000 farmers, improve access to healthcare facility for 8.4 million patients and support 21,000 jobs. The key note speech was followed by the first panel discussion on “Implementing Sustainability: From Board Room to the Shop Floor”. The panel, a judicious mix of intellectuals from the PSUs and the corporate sector comprised of Dr. Annapurna Vancheswaran, Director-Sustainable Development Outreach at TERI; Mr. Pranshu Singhal, Head (Sustainability), Nokia India; Mr. Aveg Agarwal, Country Manager, FERSA and Mr. Santanu Roy, General Manager, Corporate Planning at GAIL. Dr. Annapurna Vancheswaran reiterated the fact that the basic components of sustainability are ecological sustainability, development, equity between generations and equity within the same generation. She highlighted a few cases of unsustainable management: Bhopal's gas tragedy, Oil spill-Exxon Valdez (1989) and British Petroleum (2010), Lehman Brothers' bankruptcy. The role of TERI was discussed which includes: knowledge creations and capacity building for societal benefits, creating energy efficient sustainable habitat, passive space conditioning and water and waste management system. In addition, she quoted some examples of sustainable practices at TERI such as no use of plastic water bottles in any board meetings and use of electric vehicles upto five km of distance in office campus. Mr. Pranshu Singhal talked on how Nokia focuses on sustainability from production to consumption and disposal of their products. He further elaborated on the life cycle of a Nokia product and how the company emphasizes on being sensitive to the environment at various stages of production. In addition, Nokia also focuses on improving its offices, factories, logistical operations and use of technologies to save energy and reduce emissions. He alsoinformed the audience that almost 100% of the material in Nokia phones can be recovered and used to make new products or generate energy. Mr. Singhal urged the audience that in order to make sustainability a part of our lives and businesses, we need to bring about a behavioral change in us regarding how goods are to be consumed. He further added that companies needed to enroll & inspire people to make sustainable choices in allspheres of life like living, working, eating, buying, commuting and entertaining. Prof. Partha Pratim Saikia is Assistant Professor at Fortune Institute of International Business (FIIB), New Delhi. His total experience is eight years in both corporate and academics. His teaching interests are related to Export Import Documentation, International Logistics Management, Export-Import Management and International Marketing. by Partha Pratim Saikia FIIB Business Review. Volume 1, Special Issue, October - December 2012
Transcript of FBR - Ist Issue
conferenceReview
Review
Review of Sustainability Summit 2013
As the corporates across the globe try to find their foothold and re-focus on the growth path after a substantial period of stagnation or decline, sustainable growth as a concept has come to the fore front. Sustainability has three major parameters: Economic sustainability, Environmental sustainability and Societal sustainability. In the recent years there has been a significant rise in the incorporation of a number of sustainable business ventures as well as an increasing inclination to incorporate sustainability as a part of core business functions.
In line with this theme, FIIB organized a Sustainability Summit on the birth anniversary of its late founder Mr. R. K. Shrivastava, which was attended b y m o r e t h a n h u n d r e d participants.
The key note speech was delivered by Ms. Anita George, the Regional Industry Director, Asia Infrastructure and Natural Resources at the International Finance Corporation (IFC), the Private Sector arm of the World Bank. She said “Sustainability is not just about here and now, but how the here and now can be sustained for the future generation”.She further referred to various initiatives that IFC has funded to catalyze greater private sector contribution to sustainable development. India is IFC's one of the largest portfolio with over $3.9 billion investments for the fiscal year 2012. It is aimed to improve access to power for 362,000 customers, reach 370,000 farmers, improve access to healthcare facility for 8.4 million patients and support 21,000 jobs.
The key note speech was followed by the first panel discussion on “Implementing Sustainability: From Board Room to the Shop Floor”. The panel, a judicious mix of intellectuals from the PSUs and the corporate sector comprised of Dr. Annapurna Vancheswaran, Director-Sustainable Development Outreach at TERI; Mr. Pranshu Singhal, Head (Sustainability), Nokia India; Mr. Aveg Agarwal, Country Manager, FERSA and Mr. Santanu Roy, General Manager, Corporate Planning at GAIL.
Dr. Annapurna Vancheswaran reiterated the fact that the basic components of sustainability are ecological sustainability, development, equity between generations and equity within the same generation. She highlighted a few cases of unsustainable management: Bhopal's gas tragedy, Oil spill-Exxon Valdez (1989) and British Petroleum (2010), Lehman Brothers' bankruptcy. The role of TERI was discussed which includes: knowledge creations and capacity building for societal benefits, creating energy efficient sustainable habitat, passive space conditioning and water and waste management system. In addition, she quoted some examples of sustainable practices at TERI such as no use of plastic water bottles in any board meetings and use of electric vehicles upto five km of distance in office campus.Mr. Pranshu Singhal talked on how Nokia focuses on sustainability from production to consumption and disposal of their products. He further elaborated on the life cycle of a Nokia product and how the company emphasizes on being sensitive to the environment at various stages of production. In addition, Nokia also focuses on improving its offices, factories, logistical operations and use of technologies to save energy and reduce emissions. He alsoinformed the audience that almost 100% of the material in Nokia phones can be recovered and used to make new products or generate energy. Mr. Singhal urged the audience that in order to make sustainability a part of our lives and businesses, we need to bring about a behavioral change in us regarding how goods are to be consumed. He further added that companies needed to enroll & inspire people to make sustainable choices in allspheres of life like living, working, eating, buying, commuting and entertaining.
Prof. Partha Pratim Saikia is Assistant Professor at Fortune Inst itute of International Business (FIIB), New Delhi. His total experience is eight years in both corporate and academics. His teaching interests are related to Export Import Documentation, International Logistics Management, Export-Import Management and International Marketing.
by Partha Pratim Saikia
FIIB Business Review. Volume 1, Special Issue, October - December 2012
