Frost & Sullivan and TERI Deliberate Global Sustainability Requirements and Inclusive Development across Industries at the India Sustainability Leadership Summit 2018
The Summit was followed by the “Sustainability 4.0 Awards”, which recognized 18 winners showcasing transformational growth focusing on environment, sustainability and safety excellence
Frost & Sullivan and The Energy and Resources Institute (TERI) co-hosted the “India Sustainability Leadership Summit 2018” and the 9th edition of “Sustainability 4.0 Awards 2018” on June 01, 2018 in Mumbai.
The day commenced with ‘India Sustainability Leadership Summit’ where industry experts and dignitaries from various establishments and Government bodies deliberated ideas, solutions, and technologies across industry verticals toward building sustainable economies. Visionaries and business leaders further discussed various programs and schemes launched and implemented by the Government of India for achieving Sustainable Development Goals (SDG) across economic, social and environmental pillars. The distinguished panelists represented companies that undertook initiatives and actively integrated sustainability principles into their business culture. The sessions also highlighted the importance of empowering communities, local authorities and governing bodies to implement sustainable living, and deliberated on the need for social development and environment protection, impact of grid management, climate-smart agriculture and quantification of risks.
Welcoming participants this year, Raghavendra Rao, Senior Vice President, Frost & Sullivan said, “‘Respect and Care for Earth AND Community of Life’ is fundamental to drive sustainable development. Change in habits and practices at an individual level are critical for adoption of sustainable development in nations and organizations, and individuals must commit to sustainable development to have a realistic chance of making it happen. It cannot be an initiative driven by few! Integrated sustainability approach across the value chain and across various sectors is the need of the hour. The role of the government in creating policy and awareness must be supplemented by adequate empowerment of local governing bodies. Benefit to the local community is the first step toward willful adoption and propagation of sustainable activities.”
Encouraged by the initiatives taken by various companies across industries, Dr. Ajay Mathur, Director General, TERI said, “Sustainability considerations are beginning to form an integral part of commercial normality and increasingly of competitiveness. Businesses are slowly but surely moving toward business models that are focused on the 4Ps – People, Planet, Purpose and Partnership. The assessment results clearly indicate that companies that achieve their environmental and social performance also reflect better financial performance and create long term value for their shareholders.”
Frost & Sullivan’s Senior Partner & Managing Director, APAC – Manoj Menon presented ‘Driving Sustainability – A Frost & Sullivan’s Perspective’ and discussed the importance of sustainability centered business models backed by disruptive technologies, mega trends, and convergence of industries.
Risks, market-based opportunities, stakeholder expectations, pressures of legislation are some of the elements that drive the sustainability agenda. The session on “How do we Link Business Risks and Sustainability Imperatives with Financial and Non-financial resources”, moderated by Ajai Malhotra,
Distinguished Fellow, TERI, elaborated on managing risks and developing adaptive strategies in order to implement apt investment decisions for long term capacity building.
Dr. Suneel Pandey, Director – Environment & Waste Division, TERI conducted a workshop on “Waste to Asset – Collaboration with all stakeholders” that demonstrated a holistic approach to managing waste in the value chain. The interactive workshop highlighted the various solutions through resource conservation like refurbishing and repairing concepts, value added recovery from waste, diverting waste from landfills etc.
Inspiring success stories were also shared by companies like Punchline Energy Pvt. Ltd., Vision EarthCare Pvt. Ltd., Bamboo Products Pvt. Ltd. etc. Their presentations showcased diverse new business models, strategies, and best practices redefining the functioning of the business ecosystem.
The Summit witnessed several senior industry doyens such as Dr. Ajay Mathur, Director General, TERI; PK Nagpal, Executive Director-Corporation Finance Department, SEBI; RR Rashmi, Former Special Secretary, Ministry of Environment, Forests and Climate Change, Government of India and Distinguished Fellow, TERI; Srinath Komarina, President, Responsible Banking, Yes Bank Ltd.; Satish Mandhana, Managing Partner – Private Equity and Sustainable Initiatives, IDFC Alternatives Ltd., to name a few.
The evening concluded with the ninth edition of the “Sustainability 4.0 Awards 2018”, a platform instituted in 2009 that has since evolved in scope and boundary. In 2016, Frost & Sullivan partnered with The Energy and Resources Institute (TERI) to drive the common agenda and mission “to assist adoption of sustainable development practices through a healthy benchmarking and recognition process”, and has since partnered with it for this program.
The Sustainability 4.0 Awards assessment model comprises four major parameters (4P Model) and 13 sub- parameters, recognizing the efforts of front runners via a thorough benchmarking process. The model also takes into consideration global sustainability frameworks and future requirements of reporting. This year’s Sustainability 4.0 Awards were presented to companies in three major categories: Leaders, Challengers and Believers. “Mahindra & Mahindra Limited” received the Sustainable Factory of the Year Award along with the “Safety Excellence Award – Mega Large Business, Automotive Sector.
