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Conference on sustainable development in india Presentation Transcript

1. Conference on Sustainable Development in IndiaPerspectives, Issues & Opportunities On March 12, 2011 2. Sustainable Development in IndiaGovernance, Ethics And Social ResponsibilityWith Reference to Industrial Sector 3. Sustainable DevelopmentAccording to the Direct Government website UK Sustainable Development means a better quality of life now and for generations to come. It means not using up resources faster than the planet can replenish, or re-stock them and joining up economic, social and environmental goals. It also influences decision making within organisations, and therefore can go towards forming principles and business values. 4. Sustainable Development Determinants of Sustainable DevelopmentConsumptionProductionDistribution 5. Major Achievements Global Trends in Sustainable Energy Investment 2010, released on July 2010, India was ranked eighthin the world in terms of investment in sustainable energy. The report further stated that India invested around US$ 2.7 billion in sustainable energy in 2009. (UNEP)India has been ranked ninth in the tree planting roll of honour in 2009 in a campaign to plant a billion trees, which was launched by the United Nations Environment Programme (UNEP) in November 2006. The number of carbon credits issued for emission reduction projects in India is set to triple over the next year to 246 million by December 2012 from 72 million in November 2009, according to a CRISIL Research study. 6. Role of Industries in S.D.Industries play a major role in catering the needs of the people in India which again uses the natural resources available. The goods they produce for the society should be delivered in such a way that it should be more ethical and social cost of the production should be minimised. It has to be noted that the production should be done in such a manner that it should be profitable for the society as well as for the organization in light of future. Thus following are some of the issues which can help achieving Sustainable Development in India.

7. Business Ethics"People of the same trade seldom meet together, even for merriment and diversion, but the conversation ends in a conspiracy against the public, or in some contrivance to raise prices."Adam SmithThis area of Business Ethics usually deals with the duties of a company to ensure that products and production processes do not cause harm. There is usually a degree of danger in any product or production process and it is difficult to define a degree of permissibility, or the degree of permissibility may depend on the changing state of preventative technologies or changing social perceptions of acceptable risk 8. Business EthicsSome Ethical issues:-Defective, addictive and inherently dangerous products and services (e.g. tobacco, alcohol, weapons, motor vehicles, chemical manufacturing, bungee jumping). Ethical relations between the company and the environment: pollution, environmental ethics, carbon emissions trading. Ethical problems arising out of new technologies: genetically modified food, mobile phone radiation and health. Product testing ethics: animal rights and animal testing, use of economically disadvantaged groups (such as students) as test objects. 9. Business Ethics EthicalRefinery at Jamnagar is the largest grass root refinery in the World. In this 7500 acre Refinery complex where only barren land existed a few years ago one can now find an oasis in the form of massive greenery of more than 32 lakh plants of more than 200 species. 10. Business Ethics UnethicalKala Dera - Thirsting from Coca-ColaCoca-Cola's bottling plant in Kala Dera operated in an "overexploited" groundwater area and the Coca-Cola's bottling plant had "significant impacts", the assessment noted that "the plant's operations in this area would continue to be one of the contributors to a worsening water situation and a source of stress to the communities around.TERI Assessment Report 2006 11. Corporate GovernanceCorporate Governance is concerned with holding the balance between economic and social goals and between individual and communal goals. The corporate governance framework is there to encourage the efficient use of resources and equally to require accountability for the stewardship of those resources. The aim is to align as nearly as possible the interests of individuals, corporations and society. The issue is particularly important for developing countries since it is central to financial and economic development. With the legacy of the English legal system, India has one of the best Corporate Governance laws but poor implementation together with socialistic policies of the perform Era has affected corporate governance. 12. Corporate GovernanceA National Foundation for Corporate Governance (NFCG) has been established by the Ministry of Corporate Affairs. This is a partnership with the Confederation of Indian Industry (CII), the Institute of Company Secretaries of India (ICSI) and the Institute of Chartered Accountants of India (ICAI). The purpose of the National Foundation for Corporate Governance is to promote better corporate governance practices and raise the standard of corporate governance in India towards achieving stability and growth.Increasingly, boards are being made responsible for sustainability of the companies they govern. The need to ensure a high degree of sustainability in earnings, values, human and other resources and the environment in which the companies operate is gaining importance in India. So governance can be a great factor to sustainable development and proper governance can lead to development of the organization as well as Sustainable Development of India.

13. Corporate GovernanceONGC was awarded'Golden Peacock Award for Excellence in Corporate Social Responsibility in Emerging Economies 2006 - by World Council for Corporate Governance, UK. 'Golden Peacock Award for Excellence in Corporate Governance - 2006' by Institute of Directors. Committees formed by SEBI1ST Kumar Mangalam Birla Committee 2ND N.R Narayan Murthy CommitteeTo review the progress of the corporate sector in meeting the norms of corporate governance and to determine the role of companies in responding to rumor and other price-sensitive information circulating in the market. 14. Social Responsibility Corporate Social Responsibility (CSR) is a concept through which organizations consider the interests of society by taking responsibility for the impact their activities have on customers, suppliers, employees, communities and the environment.Business depends on society for the needed inputs like money, men, skills, sustenance and encouragement and has definite responsibilities for the society so it is obligatory for business enterprises to make decision and should follow the line of action which are desirable in terms of the objectives and value of society. 15. Social Responsibility The world business council for sustainable development has described Corporate Social Responsibility as the business contribution to sustainable development.Various companies think over it and find it as a corner side stone which lead to the path of success and helps them in achieving the long term benefits, good words of mouth and also the relaxation `N` awards from government. 16. Social Responsibility In 2000, TISCO won National Corporate Governance award, instituted by the union finance ministry and sponsored by the Unit Trust of India (UTI).TISCO FACTORY Jamshedpur 17. Social Responsibility Pepsi Co. Commitment :Replenishing WaterWaste to WealthPartnership with Farmers 18. Social Responsibility With growing globalization, Corporate Social Responsibility (CSR) had been increasing in importance as it helped organizations to improve their relationships with local communities, increase brand value, and build a good corporate image for themselves. Also, the socio-economic developmental activities undertaken by companies increased the purchasing power of the community, leading to an expansion in their market size. After all it is said that:Responsible business is good business. 19. Conclusion Sustainable development is not mere responsibility of any individual or industry or governmentDevelopment India is not very strong. Government and companies like Pepsi Co., TISCO, Infosys, ONGC, Ford, DLF and many are taking initiatives and are being responsible to the society. They are making effort to save our natural resources But on the other hand company like Coca cola which is a leader of Indian soft drink market is not being ethical to the society and is responsible of resource depletion in 6 regions of the country. 20. Conclusion Reliance Industries Ltd is one of the best example which had performed such tremendous efforts for the Sustainable Development of India like Jamnagar project.This is very rare that any of the above stated groups are performing their duties to the extent of their expectations like Reliance Industries Ltd. and TISCO who have ever been a landmark in performing Corporate Social Responsibility and discharging their duties ethically. 21. Conclusion There is list of companies that are planning to minimize the risk of resource depletion in India and the world and these organizations has been realizing the

bottom-line benefits of incorporating sustainability into their DNA. Its beneficial for attraction and retention and its the right thing to do.We need more of them for Sustainable Development in India.