Planet And Profit: Balancing Sustainability Among People
The backdrop of sustainability refers to the balance between profit, people and the planet. A nation can have holistic development only when every company residing in the country across the sectors look after the betterment of the environment and people along with their companies’ profitability.
In the third edition of BW Businessworld's Sustainable World Conclave 2023, experts counted on the positive milestone India has achieved in terms of balancing sustainability and a way forward for the world's most populous country to attain its goals.
Deepak NG, Managing Director, Dassault Systemes said that sustainability comes with the core objective of a company and the objective keeps changing with what customers want.
He also added that earlier when customers were asking for the products just for the experience but now they want to know the purpose behind the product that is co-related with sustainability.
Starting with the definition of sustainability in his company, Anirban Ghosh, Head- Centre for Sustainability, Mahindra University said, “The definition of sustainability we created in Mahindra Group is building an enduring business while rejuvenating the planet and enabling stakeholders to rise.”
Ghosh also talked about the historical reason for the disbalance created in the present and said, “At the university, we are looking to create citizens of the future who can address these problems which we have created.”
Telling a short tale from Mahabharata, Shraman Jha, Chief Executive Officer (CEO), Hindustan Unilever Foundation and Co-chair, FICCI Water Mission said that if there will be no planet and people, profitability would be redundant automatically.
Jha also informed that India is the benchmark in the entire Unilever of all water-related practices, because of the solutions the country has that rest of the world could not be able to think of.
According to the experts, communication can become the game changer for the corporate in expediting the messages of sustainability within or beyond their organisations. Narayan P S, Global Head- ESG and Wipro Foundation pointed out the same issue and said that appointing a competent sustainability communicator is a moving challenge for the corporates.
Also, sustainability is a huge concept and every company cannot do everything to bring sustainability within their organisation. Talking about the same, Tejashree Joshi, General Manager and Head (Environment and Sustainability), Godrej said that every company should start from basics.
Joshi called sustainability ‘a huge umbrella’ and asked the companies not to go everywhere and do everything, but rather choose to work on the problems that are impacting their organisations.
A huge part of corporate policymaking is being invested in ESG that aims to bring sustainability on the ground either in terms of rejuvenating the environment or bringing equity to the social order.
Experts noted that the Indian corporate world is doing well in this direction but in the coming years, challenges will be escalated when they will have to gear up their plans and pace to walk along with the nation for attaining sustainability.
