State of Sustainability Reporting in India

India, even with it’s moderate growth over the last 2 years is one of the fastest growing economies in the world. It stands 10th in the world by GDP third in terms of PPP among the world. Even when the US, EU, Japan and other large G8+5 countries have seen stagnant or low growth rates, only China and India have managed a steady growth of 7.8% &  5.4% respectively. With growth comes pressure on resources, social inclusion and environmental stability. Both India and China are continually facing issues such as inequality, poverty, environmental pollution, corruption, public health and the like. With the line between public responsibility and private initiative blurring, the popular opinion is putting pressure on private players to be responsible in their activities, go beyond financial performance and contribute positively to the social, economic and environmental well-being of the nation and society at large. In short,  companies are under pressure to become more Sustainable. While most of the companies have been able to heed this call, a lot …

ConAgra Foods’ green strategy: Award employees for sustainability efforts

Source: GreenBiz.com Last year, ConAgra Foods — the U.S. packaged-foods company behind such well-known brands as Hunt’s Ketchup and Reddi-Wip — saved millions of dollars while dramatically cutting its energy consumption. It accomplished this by not relying on major process changes or heavy investments hailing from top executives. Instead, it turned to its employees. The accomplishments stemmed from an awards program, launched in 1992, developed to encourage employees to proactively look for ways to eliminate waste and reduce water and energy consumption. By allowing different divisions to set their own sustainability goals and awarding employees that met those goals, the Nebraska food giant saved 300 million gallons of water, eliminated 61,000 tons of landfill waste and reduced its carbon emissions by more than 43,000 metric tons. These efforts also saved the company $28 million. Gail Tavill, ConAgra’s vice president of sustainable development, spoke with GreenBiz about how the program works, lessons learned and challenges the program has faced. GreenBiz: How did you reduce water usage by 300 million gallons of water? Tavill: …

Visualizing sustainability’s rewards via MIT’s new interactive tool

Source: GreenBiz.com MIT Sloan Management Review released the results of its latest global survey on sustainability and innovation earlier this month, revealing that a significant number of companies see the value of sustainable business practices — and are reaping the financial rewards. For the first time, the results were released in aninteractive data visualization format. The new tool allows readers to filter the data by industry, company size, company performance and other factors. Presenting the data this way yielded several interesting findings: • The automotive sector gets it: The automotive industry leads the way in making the business case for sustainability. However, when it comes to profitability, automotive is only in the middle of the pack; the consumer products industry is at the top, with 42 percent of consumer products respondents saying that they are profiting from their sustainability activities. • High reputational benefits: Improved brand reputation is the greatest benefit companies enjoy from addressing sustainability issues. This is especially true in the automotive, consumer products and media/entertainment industries. • Customers drive sustainability: Of the “harvesters,” those respondents …

How integrated reporting can help companies see the bigger picture

Source: Guardian Sustainability By including environmental, social and governance information in their reports, businesses can reap significant benefits. The United Nations has put global reporting by companies on sustainability among its proposed key outcomes for the Rio+ 20 summit in June. The “zero draft” policy agenda that negotiators will consider, calls for “a global policy framework requiring all listed and large private companies to consider sustainability issues and to integrate sustainability information within the reporting cycle.” This is a welcome move. Corporate reporting is all too often narrowly limited to financial information. But in our increasingly complex world, a company’s finances represent just the tip of the iceberg. Below the surface lurk risks that could cause leaks in the most seemingly successful business’s operations, reputation or bottom line. The oil spill in the Gulf of Mexico involving BP and recent issues regarding factory conditions at a Chinese supplier for Apple are cases in point. Many of the growing sustainability risks companies face, such as changing consumer preferences, climate change, and …

Sustainable Development Guidelines for Central Public Sector Enterprises

The Department of Public Enterprises has given out notifications to Central Public Sector Enterprises (CPSEs) or PSU companies to undertake Sustainable Development as a mandatory function of their MoU with them. We believe it is a great opportunity for these companies to undertake various activities under this banner and showcase different best practices in this domain. We believe that the PSUs have to take a route that is quite different from the normal Private Sector companies in approaching Sustainable Development. To address this, we have made a presentation for the CPSEs to give a direction on complying with these guidelines and how to maximise this opportunity to become Sustainability led organisations. Do have a look  at the presentation below and get in touch with us for a discussion on how PSU’s should be approaching Sustainable Development.   Addressing Sustainable Development Guidelines for CPSEs View more presentations from EfficientCarbon

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