Answer 1

The ethical principle of the risk management idea is that businesses should properly discover,
evaluate, and manage risks. Therefore, the board of a publicly traded firm must consider the risks
involved in each decision and choose the best course of ac on to safeguard the long-term
interests of the company. A complete risk management strategy should be created by a high level
of authority and evaluated, up-to-date and shared with all stakeholders on a regular basis.

Enterprise risk management represents an approach

that iden fies poten al risks that ITC may encounter
and develops risk management strategies from that
perspec ve in order to mi gate future risks and make
sure the company moves in an upward mo on rather
than downward. It first iden fies poten al threats,
hazards, etc. that could affect a company's objec ves,
finances, and opera ons.

The key ini a ve taken by the ITC company in FY2021-22 to manage ONE financial risk
and ONE non-financial risk.

ITC is commi ed to con nually enhancing its Risk Management systems and procedures
in accordance with a business environment that is changing quickly. It is important to
note in this regard that some of ITC's major businesses have adopted the ISO 31000 Risk
Management Standard, and as a result, the risk management systems and procedures
in place in these businesses have been independently evaluated and found to be
compliant with the aforemen oned global Risk Management Standard.
 Risk: Climate Change and Sustainability
Risks

Direct impact on business and opera ons on account of cri cal sustainability risks like
climate change, plas c waste, etc.

Material issues linked: All Water Security, Climate-resilient opera ons, sustainable
packaging, biodiversity management, sustainable brands and products, ethical sourcing
prac ses, and climate-resilient agriculture

Risk mi ga on strategy
• Crea on of drought-tolerant, high-yielding cul vars to boost output through the use of
microregion-specific agronomic techniques

• ITC can keep emphasising energy efficiency and increasing the propor on of renewable sources
in its overall energy needs.

• ITC can design products and packaging in a way that improves recyclability, especially for plas c
packaging, and create a me-bound road map so that 100% of packaging is reusable, recyclable,
or compostable.

• ITC can increase efficiency by monitoring the carbon footprint of opera ons and work towards
building resilience against the impacts of climate change.

• Adop ng a water stewardship strategy to provide water security for all par es involved in the
units' designated catchment areas in high-water-stress regions.

• Comprehensive programmes on sustainable agriculture, soil and moisture

conserva on, social forestry, and biodiversity preserva on.
• ITC can con nue to work with supply chain partners for ethical sourcing and secure agri
value chains for ITC's main commodi es.
• Making the Reduce-Reuse-Recycle waste management concept prac cal and enabling
sustainable waste management.
• Supply chain con ngency planning.
• Micro-segmen ng growing zones and crea ng a suitable set of prac ses and precision
farming methods to lessen the impact of weather.
 Risk: Market risks, credit risks
and liquidity risks impac ng
ITC's opera ons and revenues

Material issues linked: Finance,

Ethics & Governance

Risk mi ga on strategy

 Independent and regular internal audits, supported by project and IT audits, and Risk
Management Cell.
 Robust risk management prac ces in place, governed by a combina on of centrally
issued policies and standard opera ng procedures at the Business level.
 Comprehensive framework in place to manage risks arising out of commodity sourcing
and Agri-commodity trading (including effec ve market monitoring systems, con nuous
tracking of net open posi ons and 'value at risk' against approved limits, use of futures
contracts, backward integra on and in-house manufacturing).
 Large and diverse customer base leading to diversifica on of risk. Zero-debt Balance
Sheet with strong cash genera on from opera ons
 Centralisa on of treasury opera ons for the deployment of surplus liquidity and
management of forex exposures within a well-defined risk management framework.

Conclusion ITC must make sure that they have the necessary risk management
procedures and policies in place to recognise and reduce risks. Any organisa on that
wants to safeguard its stakeholders and maintain the viability of its opera ons must
prac se effec ve risk management. IT is important to Analysis the financial and non-
financial risks, as well as the implementa on of ac vi es related to safety, health, and
the environment, are crucial.
Answer 2
In 2022, Microso launched a programme aimed to reduce its carbon footprint.
The corpora on has set a target of reducing its carbon footprint by 75% by 2030
and charges divisions a carbon fee internally. For the purpose of reducing future
emission levels, Microso has also made investments in sustainable energy
technology, tree plan ng, and the purchase and compensa on of carbon emissions from
emissions trading schemes.

How does Microso track, report, and reduce

its carbon footprint?
In its yearly sustainability report Report, the
corpora on tracks its progress towards its goals
for climate impacts by gathering carbon
emissions data from 87% of its suppliers.
The growth of the Xbox business and an
increase in demand for cloud services like
Microso Office led to a 17% decline in
Microso 's Scope 1 and 2 emissions, but a 23%
increase in Scope 3 emissions year over year.
Microso is altering how it sets its carbon
emission reduc on targets, increasing the
frequency of internal repor ng, raising its
internal carbon price, and increasing the fee it
charges business units for business travel to
$100 per metric tonne of CO2 in order to
address this.

Image Reference: From Microso sustainability report 2022

what are the company's specific carbon reduc on goals?
The company intends to be carbon nega ve for all three scopes by 2030, which means it will
remove more carbon than it emits. This will put the company on track to remove all of the
carbon it has produced directly or through the use of electricity since its founding in 1975 by
2050. Microso charges its departments an internal carbon tax in order to offset its internal
carbon reduc on objec ve of 75% by 2030. Despite the fact that Microso 's carbon
emissions increased by 21.5 percent in the year ending in June 2021, the firm is dedicated to
halving opera onal and supply chain emissions and scaling up expenditures to not just offset
but completely eliminate carbon.
Which carbon removal technology is Microso inves ng in?
To achieve its objec ve of going carbon nega ve, Microso is inves ng in a variety of carbon
removal technologies. Among these technologies are:

 Direct air capture: In this method, carbon dioxide is taken straight out of the
atmosphere and either stored underground or used to make products like gasoline.
 In order to increase the quan ty of carbon retained in soil, a method known as soil
carbon sequestra on must be used. Examples of this technology include the plan ng
of cover crops and the reduc on of llage.
 Blue carbon: This approach involves preserving and repairing coastal habitats that
can store a lot of carbon, like mangroves, seagrass beds, and salt marshes.
Microso has created a $1 billion fund for "carbon reduc on, capture, and removal
technologies" to aid in the growth and adop on of these technologies.

Conclusion: Reforesta on is Microso 's primary method of removing carbon, but it is

also alloca ng at least some of its $1 billion investment to ini a ves that do so. A
thorough life cycle assessment that conserva vely calculates all greenhouse gas
emissions related to the en re range of inputs and outputs is one of the requirements
Microso has set for high-quality carbon dioxide removal. By 2030, the company
intends to remove more carbon than it emits, and by 2050, it has set itself on a course
to eliminate all the carbon it has produced since its founding in 1975, either directly or
through the use of electricity.
Answer 3a
The specialised knowledge and exper se that professionals like doctors, accountants, and
lawyers possess may be one explana on for why they have a charter or framework of du es
and obliga ons that ordinary individuals do not. Here are two jus fica ons for this opinion:

 Protec ng the Public Interest: Experts in professions like medicine, accoun ng, and
law frequently handle crucial issues that have a direct impact on people's health,
financial security, and legal rights. The establishment of a code of conduct guarantees
that these professionals follow a set of moral guidelines and expecta ons when
performing their jobs. The public interest gets top priority in this framework, and the
welfare of clients or pa ents is protected.
For example, doctors are in charge of people's life and health. They follow a code of conduct
to support the ideals of beneficence, non-maleficence, and pa ent autonomy, making sure
to give their pa ents the proper care, maintain their privacy, and make decisions that are in
their best interests.

 Maintaining Professional Integrity and Reputa on: Many professions have a

lengthy history, and they work hard to uphold their high standards of integrity
and dependability. A code of conduct develops a framework that aids
professionals in upholding their moral character and the reputa on of the fields
in which they operate. It establishes the bar for appropriate conduct, skill, and
responsibility.
Professionals in industries like accoun ng and law tackle delicate financial and legal
concerns. A code of conduct exists to ensure that accountants maintain confiden ality,
abstain from conflicts of interest, and deliver accurate and trustworthy financial data. Similar
to this, lawyers are constrained by moral principles that preserve the rule of law, honesty,
and commitment to clients. The public's confidence in the knowledge and morality of these
experts is strengthened by these standards.
Conclusion: To summarise, the necessity to safeguard the public interest, ensure ethical
behaviour, and uphold the integrity and reputa on of these professions jus fies the
establishment of a code of conduct, du es, and obliga ons specific to professionals like
doctors, accountants, and lawyers. These frameworks offer a uniform set of rules that
take into account the par cular du es and specialisa on of these professionals,
separa ng them from the rest of society.
Answer 3b
Fairness has been chosen as the ethical standard for this situa on. Regardless of their
history, gender, race, ethnicity, religion, sexual orienta on, age, disability, etc., all employees
should feel included and treated equally in the workplace. Fair hiring prac ses are a regular
working procedure that demonstrates how a business upholds the ethical concept of
fairness.
As an ex-employee of Workindia my job was to recruite
good employees by trea ng each candidate fairly.
Fair hiring procedures make sure that all job applicants
are treated equally and with respect and that the
decision to hire is made on the basis of competence
rather than any irrelevant quali es. Companies can
ensure fair recrui ng prac ses in the following ways:

 Create inclusive job pos ngs that don't include wording that can turn off some
applicants.
 Establish precise, value-based selec on criteria depending on the job.
 To maintain uniformity across all candidates, establish predefined ques ons and
standardise interview ques ons.
 Employing managers should receive training on how to avoid unconscious prejudice.
 Candidates should be made aware of the company's fair hiring policy up front so they
can hold it accountable.

CONCLUSION: Companies can make sure that their hiring procedure is fair and
equitable for all applicants by pu ng these prac ses into place, regardless of a
candidate's past or individual traits.