Frost & Sullivan and TERI’s 2019 India Sustainability Leadership Summit Sought Means to Establish a Circular Economy that Embraces Solutions with Potential to transform our Future
The Summit was followed by the “Sustainability 4.0 Awards”, which recognized companies demonstrating Sustainable Development and Safety Excellence practices
Mumbai, Maharashtra, India
Frost & Sullivan and TERI jointly concluded the 2019 ‘India Sustainability Leadership Summit’ and the 10th edition of ‘Sustainability 4.0 Awards’ in Mumbai recently. This year, 28 awards were presented to companies in four major categories: Sustainable Corporate of the Year, Leaders, Challengers and Safety Excellence.
Frost & Sullivan and The Energy and Resources Institute (TERI) jointly concluded the 2019 ‘India Sustainability Leadership Summit’ and the 10th edition of ‘Sustainability 4.0 Awards’ in Mumbai. The Summit drew key thinkers and business leaders, who have delivered and continued to deliver strategies, ideas and solutions for a sustainable business and shared their views that revolved around establishing a roadmap toward a building a holistic development globally.
The day commenced with ‘India Sustainability Leadership Summit’ where industry experts and dignitaries from various establishments discussed certain pressing issues revolving around the sustainability landscape and emphasized on solutions like resource efficiency, de-carbonized power system, renewable storage to accomplish zero-emission vision by 2050. Industry experts encouraged building an ecosystem for sustainable convergence and how imperative it is to internalize sustainability as a norm within the organization.
Talking about the increasingly important role of corporates on the road to sustainability, Dr. Ajay Mathur, Director General, TERI, said, “Corporates are the architects of sustainability. Many corporates are enhancing sustainability as a part of their ethos. The challenge is how to increase these best practices from few to many. This sustainability journey is where we all come together. We are here not only to recognize the good and great, but also to set the tone for tomorrow. Technologies of yesterday cannot be the answer to problems of tomorrow. I hope in 2019, resource efficiency comes of age in India, and it will be possible with the efforts of all corporates.”
Raghavendra Rao, Associate Partner & Senior Vice President, Frost & Sullivan, said, “Sustainability has to be a way of life to be a way of business. The coming decade will embrace numerous innovative technological solutions in the space of sustainability enabling corporates to implement initiatives better. At the same time, the implementation of such solutions should go hand in hand with the behavioral aspects of stakeholders.” He also highlighted that sustainability ought to become ‘the boardroom agenda’. “The importance of sustainability risks and disclosures is increasing across the industry sector. Investors, NGOs, and other key stakeholders are requesting greater transparency and disclosure – and this is impacting board-level discussions within companies, across all industries”, he added.
Sarwant Singh, Managing Partner, Frost & Sullivan set the context for the CEO Panel – ‘Moving the needle up on the sustainability ambition scale’ and discussed connectivity and convergence, data monetization, Quantum Computing and more. He emphasized on how future technological Mega Trends will help companies in sustainability aspirations. The panelists discussed various important regulators, monetary instruments, non-financial parameters, and environmental consciousness.
Speaking at the Summit, Lord Adair Turner, Co-Chair, Energy Transitions Commission, emphasized “to limit global warming to 1.5 °C, CO2 emissions must fall to net-zero by around 2050.” He further added that de-carbonization of the electricity sector is need of the hour to achieve sustainability, and the three routes that need to be followed to achieve sustainability are – reducing demand, adopting energy efficiency measures and deploying de-carbonization technology across all sectors.
The Summit also highlighted various aspects of the changing landscape, emerging trends, and drivers against the sustainability background. The distinguished speakers at the Summit represented policy makers, doyens in the field of sustainability and business leaders from renowned organizations, such as:
Ms. Josa Kärre, Counselor, Trade, Economics & Cultural Affairs, Embassy of Sweden
Amb. Ajai Malhotra, Distinguished Fellow, TERI
Mr. Mahendra Singhi, Managing Director and CEO, Dalmia Cement (Bharat) Ltd.
Mr. R Mukundan, Managing Director, Tata Chemicals Ltd.
Mr. Satish Pai, Managing Director, Hindalco Industries Ltd.
Mr. R R Rashmi, Distinguished Fellow, TERI
Mr. Chanakya Chaudhary, Vice President (Corporate Services), Tata Steel Ltd.
Mr. Randal Newton, Vice President – Enterprise Engineering, Ingersoll Rand
Mr. Govind Sankaranarayanan, Vice Chairman, ECube Investment Advisors Pvt. Ltd.
Mr. Nawshir Mirza, Member of Board of Exide India, Tata Power and Thermax Ltd.
The evening’s Awards Banquet recognized and honored the efforts made by companies who actively integrated sustainability principles into their business culture. This year the Sustainability 4.0 Awards assessment model comprised four major parameters (4P Model: People, Planet, Purpose, and Partnership) and 13 sub-parameters and recognized the efforts of front runners via a thorough benchmarking process. The model also took into consideration global sustainability frameworks and future requirements of reporting.
This year, 28 awards were presented to companies in four major categories: Sustainable Corporate of the Year, Leaders, Challengers and Safety Excellence. Aditya Birla Fashion and Retail Limited received the Sustainable Corporate of the Year Award followed by Reliance Industries Limited, which won the Sustainable Corporate of the Year Award – 1st Runner up and Mahindra & Mahindra Limited – Igatpuri won the Sustainable Factory of the Year Award.
Abbott HealthCare Private Limited– Jhagadia and L&T Hydrocarbon Engineering Limited – Modular Fabrication Facility – Hazira jointly won the Safety Excellence Award. The Safety Excellence Awards assessment model was evaluated under 5 major parameters – Safety Management, Process Safety, Equipment Safety, People Safety, and Occupational Health.
In this edition, the Jury Special Mention Awards category was introduced to recognize Programs that have resulted in environmental protection, social well-being and/or economic prosperity within an organization's operations and the community. Mahindra & Mahindra – Igatpuri was honored with the Jury Special Mention Award for its initiatives on ‘Zero Waste to Landfill’. Hindalco Industries Ltd. – Belagavi was declared the First Runner up for ‘Utilization of Bauxite Residue in Cement Industries’ and CLP India Private Limited was the Second Runner up for ‘Water Management’.
To access the complete list of award recipients, please click here.
To know more about Sustainability 4.0 Awards and the methodology, please log onto: http://sustainability4awards.org/. To participate in the 2020 edition of the awards or to know more about the awards program, please reach out to Gowtham Sivabalan at [email protected] and Pooja Kumar at [email protected]with your full name, company name, title, telephone number, and company e-mail address. About Frost & Sullivan
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The Energy and Resources Institute (TERI) is an independent, multi-dimensional organization, with capabilities in research, policy, consultancy and implementation. It has pioneered conversations and action in the energy, environment, climate change, and sustainability space for over four decades.
The institute's research and research-based solutions have had a transformative impact on industry and communities. Headquartered in New Delhi, it has regional centers and campuses in Gurugram, Bengaluru, Guwahati, Mumbai, Panaji, and Nainital, supported by a multidisciplinary team of scientists, sociologists, economists and engineers, and state-of-the-art infrastructure.
The TERI Council for Business Sustainability serves as the interface for its research work to be connected to the corporate world. Set up by TERI to recognize and promote sustainability leadership practices, the Council is a network of Indian business leaders working on a shared commitment to mainstream sustainability in business strategies and practices. To know more – connect with us.