Environment & Sustainability

XIMB Semester-1 (2011-13 Batch)

Preface
The world around us is changing rapidly. Technology continues to evolve at an exponential rate; populations are booming, economies rise and fall. Amidst all this, our precious energy and water resources are becoming more and more strained, creating enormous challenges for utilities across the globe. Sustaining the world around us, from its people to its natural wonders, can be a daunting challenge. But it also presents an incredible opportunityan opportunity to make the world a better place for us all. In recent years, as corporations and governments have increasingly been confronted with managing the expectations of a society newly alerted to the social and environmental risks of economic development, recognition is dawning that achieving a sustainable world is dependent upon the democratic management and equitable distribution of these risks for now, and for the future. Sustainable development involves meeting the needs of the present without compromising the ability of future generations to meet their own needs. With more and more stakeholders being environmentally conscious today, businesses are being moulded to develop and incorporate sustainability at every stage. At many companies, being socially responsible has typically meant handing out compensation to victims of natural disasters, environmental groups, or producers of green TV commercials. Now the corporate sustainability movement has a simple premise: Saving the planet can save big bucks. Executives are trying to realize meaningful cost savings by coming up with innovative ways to go easier on the environment Sustainability has emerged as a factor in determining which companies win in the marketplace, and smart CEOs are investing in a more rigorous approach to the environment. The contents of this course recognize the complex and contested nature of both sustainability and governance, and that these key concepts have been redefined considerably over time. Management strategies driven by shareholder value objectives have been highly successful for businesses of all sizes in the past fifty years. Focusing on shareholder return fostered the creation of a fast-moving, responsive business culture in which the priorities were clear and the measure of success was apparent. As a result, such objectives have been a powerful engine in creating value. But, despite the clear benefits of this traditional model, driving businesses by shareholder value alone is now also a largely unsustainable one. The weight traditionally placed on shareholder return means a whole range of concerns that shouldnt be overlooked as frequently have been in the past. This emphasis made it hard for executives to effect real change in areas that didnt affect the share price, no matter how deeply they may have desired it. Growth sectors such as telecom, infrastructure, transport, retail are not only relevant for their double digit growth rates, but also for their significant sustainability footprint. In a business as usual scenario, these sectors could have a lopsided impact; impressive economic benefits at the cost of environmental degradation and social unrest. Use of resources, waste management, pollution, climate change and biodiversity are all issues of XIMB Environment & Sustainability 27/06/2011 Page 1

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XIMB Semester-1 (2011-13 Batch) great importance which, in the traditional business model, have had to give way to the maximization of shareholder return. Today that approach is no longer viable in the long term. Business practices that result in products with huge amounts of waste embedded in them; that involve the consumption of large amounts of energy; that undermine local communities or contaminate the environment can no longer be justified on the basis of shareholder return. The pace of organizational change during the last decadefueled by globalization and dramatic leaps in technological innovation has been nothing short of frenetic. As organizations of all types and sizes have come to rely on the Internet to transact globally with customers and business partners and streamline business processes, the form and fiber of organizations has changed. Complementing this transformation in how companies interact with stakeholders is the question of how organizations should be interacting with the world their communities, their markets, and the planet. Where does the corporate entity fit, and how does it help form and strengthen the fabric of its world? These are the questions of corporate sustainability. As many suggest, there are more questions than answers when it comes to sustainability, as it is complex both in theory and practice. In fact, questions abound regarding precisely what corporate sustainability is, what it isnt, and what organizations should be doing about it. For many of these questions, we have yet to find full or sufficient answers. In the meantime, definitions of the very term sustainability fluctuate between the poles of Milton Friedman, who said, the business of business is business, to corporate social responsibility (CSR) mantras, which add social responsibility to the mix of organizational musts, to Andrew Zollis term eco-innovation revolution coined to describe the current era as we exit the industrial and information ages. While some experts, like strategist Michael Porter, state that the varied approaches to sustainability taken by corporations are piecemeal and disconnected from business strategy, others believe we already may be reaching the limits of what CSR can deliver. This complexity can be dauntingyet with that complexity comes challenge and, most importantly, opportunity. Within the complex nature of sustainability we have the opportunity to usher in a newly crafted world, one for which there is no precedent. To envision this new world is to see the possibility of new economy, new governance, and even new philosophy. It is to hold the possibility that the new world is not a variation on how things are nowbut an essentially new paradigm for living. We are unlikely to meet the future effectively with existing perspectives and mindsets. To usher in this new reality, new frameworks and capacities are required ones that catalyze breakthrough thinking and solutions, assist in communicating this new reality to people in ways that they understand, and expand the very meaning of sustainability. As Albert Einstein said, No problem can be solved from the same level of consciousness that created it. In essence, a shift in consciousness is needed to effect substantial change. Embracing the complexity of sustainability, calls for understanding it at a new level of consciousness. Sustainability is the capacity to endure. In ecology, the word describes how biological systems remain diverse and productive over time. Long-lived and healthy wetlands and XIMB Environment & Sustainability 27/06/2011 Page 2

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XIMB Semester-1 (2011-13 Batch) forests are examples of sustainable biological systems. For humans, sustainability is the potential for long-term maintenance of well being, which has environmental, economic, and social dimensions. The World Business Council on Sustainable Development defines CSR as the commitment of business to contribute to sustainable economic development, working with employees, their families and local community and society at large to improve their quality of life. According to the WBCSD, CSR is the third pillar of sustainable development, along with economic growth and ecological balance. Healthy ecosystems and environments provide vital goods and services to humans and other organisms. There are two major ways of reducing negative human impact and enhancing ecosystem services. The first is environmental management; this approach is based largely on information gained from earth science, environmental science, and conservation biology. The second approach is management of human consumption of resources, which is based largely on information gained from economics. Sustainability interfaces with economics through the social and ecological consequences of economic activity. Sustainability economics involves ecological economics where social, cultural, health-related and monetary/financial aspects are integrated. Moving towards sustainability is also a social challenge that entails international and national law, urban planning and transport, local and individual lifestyles and ethical consumerism. Ways of living more sustainably can take many forms from reorganizing living conditions (e.g., eco-villages, eco-municipalities and sustainable cities), reappraising economic sectors (permaculture, green building, sustainable agriculture), or work practices (sustainable architecture), using science to develop new technologies (green technologies, renewable energy), to adjustments in individual lifestyles that conserve natural resources. Corporate sustainability is a business approach that creates long-term consumer and employee value by not only creating a "green" strategy aimed towards the natural environment, but taking into consideration every dimension of how a business operates in the social, cultural, and economic environment. Also, it means formulating strategies to build a company that fosters longevity through transparency and proper employee development. Corporate sustainability is an evolution on more traditional phrases describing ethical corporate practice. Phrases such as corporate social responsibility (CSR) or corporate citizenship continue to be used but are increasingly superseded by the broader term, corporate sustainability. Unlike the other phrases that focus on "added-on" policies, corporate sustainability describes business practices built around social and environmental considerations. The last 20 years have seen growing concerns about economic systems and business models that foster economic disparity and environmental imbalances, despite technological advances and improved standards of living. These concerns have inspired intense discussions about sustainability. XIMB Environment & Sustainability 27/06/2011 Page 3

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XIMB Semester-1 (2011-13 Batch) Businesses across the world are therefore recognizing the need to address the environmental and social impacts of their activities which, together with profits are popularly known as the 'triple bottom line' issues of sustainable development. Thus, the sustainable business debate is shifting from public relations to questions of competitive advantage and corporate governance. New and emerging definitions of business opportunity and financial risks are forcing Corporate Boards to address issues such as environmental quality, social justice and economic efficiency. Indian business is growing rapidly in size, scope and global reach. However, growth and continuance of business in the long-term, when the nation is targeting higher levels of economic leap-frog, cannot be achieved at the cost of our already fragile environment and weak social fabric. Businesses today face pressures which are different from their predecessors and their roles and responsibilities are being dramatically redefined in the face of changing expectations. Conventional businesses would view these pressures and expectations as threats to business growth and shareholder value creation. Today, businesses need to identify strategies and practices that can turn the threats into opportunities and contribute to a more sustainable world while simultaneously driving shareholder value; which can be defined as the creation of sustainable value. Real development will not come about because of some government decrees or some changes in the ways businesses operate. To produce the necessary changes and to initiate a postindustrial renaissance, new ideas, connections, and social networks are needed. This will only happen when a diverse and diffused critical mass of people and businesses decide to live and act differently. Leading organizations have now started to operate with a high sensitivity to social, environmental and economical issues and are embracing new forms of collaborations, partnerships and entrepreneurships. They are coping with challenges to develop and implement strategies which meet the needs and expectations of a complex range of stakeholders that include employees, governments, communities and civil society. The result is that many leaders are fundamentally questioning and changing the way they manage their organizations, prompting an assessment of the understanding needed by those who lead and shape the organization. A key issue for businesses that want to respond to the challenge posed by sustainable development is how to take effective action. The CII Centre of Excellence for Sustainable Development is pioneering Corporate Sustainability Management (CSM) for Indian industry in the belief that future competitiveness requires internalization of sustainability management through a clear, practical, integrated framework. CSM is a systematic and integrated approach to optimize management of the key economic, environmental and social impacts of a company's products/ services and processes. Benefits of CSM include enhanced decision-making, reduced risks, reduced costs, increased options and innovation, and increased number and loyalty of clients. These benefits position a company as partner of choice, attract talent and financial resources, and ultimately enhance XIMB Environment & Sustainability 27/06/2011 Page 4

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XIMB Semester-1 (2011-13 Batch) competitiveness and profitability. Above all, CSM provides the prospect of being architects of a better future for businesses, for others and for generations to come. Business Case for Corporate Sustainability Management In direct contrast to the traditional management approaches of companies, businesses need to embrace environmental, social and economic drivers of society so as to achieve any level of stability in the global commons. Nurture internal capabilities - Strategic commitment and culture necessary to turn the environmental, social and economic risks into competitive advantage. Engage external constituencies - Systematic knowledge of political, social, economic, technological and ecological drivers for securing reputation and legitimacy. Accelerate innovation and repositioning - Product stewardship into the entire value chain, and skills and competencies for the future Crystallize the company's growth path and trajectory - A sustainability vision which is a shared road map for meeting the unmet needs of the emerging and new markets

Businesses across the world are recognizing the need to address the environmental and social impacts of their activities which, together with profits are popularly known as the 'triple bottom line' issues of Sustainable Development. Thus, the sustainable business debate is shifting from public relations to questions of competitive advantage and corporate governance. Approach to Corporate Sustainability Management includes: a) Balance between the market economy, environmental efficiency and social upliftment. b) Manage sustainability agenda as an integral part of the competitive strategy by building confidence and trust among their stakeholders. Develop a strategic perspective on 'Sustainability'. Identify critical success factors that determine business results with a sustainability approach. Develop knowledge and skills to leverage leadership capability to inculcate the sustainability culture Create sustainable business strategies and world-class execution capability to actualize sustainability.

Strategy and Leadership Rapid geopolitical shifts, resource constraints, rising consumer and investor expectations, and social and environmental legacy issues; all these are occurring at the same time as XIMB Environment & Sustainability 27/06/2011 Page 5

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XIMB Semester-1 (2011-13 Batch) pressure grows for short time profit maximization. Today's business leaders operate in an increasingly complex world marked by uncertainty and tougher climate to make accurate decisions for tomorrow. Strategic Repositioning for sustained competitiveness are required to manage the complexity of business risks and opportunities that relate to a company's economic viability and capacity for social upliftment and environmental enrichment imperatives. Today, there is a greater understanding that corporate strategy can be crafted to encompass a larger picture that not only enhances competitiveness but also ensures responsible and sustainable growth. It is important that such initiatives are encouraged through stakeholder awareness and response. A key purpose of Sustainability Reporting is to assist organizations, both large and small, in identifying the cross-cutting dimensions of triple bottom line performance and in understanding the process elements of accountability and engagements. It is through this learning and change process that the organizations start to measure, report and improve on the way they make decisions and take actions. And by doing so, they create sustainable value for the organization and its stakeholders. Global Reporting Initiative defines Sustainability Report as the practice of measuring, disclosing, and being accountable for organizational performance while working towards the goal of sustainable development. A sustainability report provides a balanced and reasonable representation of the sustainability performance of the reporting organization, including both positive and negative contributions. The Centre promotes Sustainability Reporting as a means to gain competitive advantage through informed decision-making and Sustainability Reports are seen by decision-makers as evidence of good corporate citizenship, and are increasingly used by financial institutions seeking more information to judge investment risk and opportunity. The specific role of the Centre on Sustainability Reporting is to assist companies initiate or improve the process of reporting by measuring their economic achievements, contribution to social upliftment and environmental enrichment. Sustainability Reporting: The Benefits Sustainability reporting is generating considerable interest around the world and is becoming one of the basic criteria for judging the social responsibility of organizations. Business leaders are starting to realize that comprehensive reporting helps support company strategy and shows commitment to sustainable development. The corporate benefits of sustainable performance are also markedly reduced when key stakeholders do not know what you are doing. Thus companies are issuing Sustainability Reports to enlarge the scope of conventional corporate financial reporting. The report helps them ensure transparent communication and engagement with their stakeholders in respect to the company's sustainability performance. It has become imperative for the companies to have stakeholder engagement due to the growing awareness of the stakeholder because of the easy and speedy access to information. The stakeholders like government agencies, employees, investors, financial XIMB Environment & Sustainability 27/06/2011 Page 6

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XIMB Semester-1 (2011-13 Batch) institutions, community, NGOs, consumers, etc. have become more demanding and ask the company to disclose information on its social, environmental and economic impacts. The companies are also under peer pressure from their competitors to perform well their social responsibilities and report them to gain a competitive advantage to be recognized as a socially responsible company. Sustainability Reporting is also of benefit to the company internally by helping it identify and address business risks and opportunities. The top management of Indian companies identifies the following benefits of Sustainability Reporting: Focused attention - structured approach Motivating continual improvement & better data management Helps in becoming market leader Influencing policy makers Improves trust & enhances image / Investor confidence Marketing tool - demonstration effect Will assist in stakeholder dialogue Builds ownership and commitment Helps in thinking ahead - vision

In a recent survey carried out by the Asian Governance Association, which ranks the top 10 Asian countries on corporate governance parameters, India has consistently ranked among the top three along with Singapore and Hong Kong, for the last eight years. In recent years, the world has witnessed a shift in what constitutes a business asset. The ownership of physical assets, like manufacturing facilities, is only part of the market capitalization of a company today. Its value and the ability to grow in the long term is highly influenced by the natural, social and human capital including intangible assets such as management skills, reputation, human and intellectual capital, and the ability to work in partnership with stakeholders. Yet these capitals and assets are excluded from the balance sheet because of the difficulty in objectively valuing them. Globally, there is a trend towards businesses providing economic, environment and social information into the public domain through Sustainability Reports. It has also been internationally established that sustainability reporting leads to improved business performance through communication of information with stakeholder groups like customers, suppliers, employees, financial institutions, regulators and communities on a company's economic, environmental and social management and performance.

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XIMB Semester-1 (2011-13 Batch) Sustainability reporting addresses how societal trends are affecting the company, and how the company's presence and operations are affecting society. As such, sustainability reporting can demonstrate a company's motivation and willingness to position itself in a broader context. With India emerging as an economic giant amidst the Asian economies and the burgeoning globalization, Sustainability Reporting is emerging as a trend in Indian and trans-national companies with operations in India. Gradually Indian companies are recognizing the challenge of going global and are bracing themselves to keep up with the competition in the international markets with respect to voluntary reporting initiatives becoming market-based instruments. The CII ITC Centre of Excellence for Sustainable Development promotes Sustainability Reporting amongst Indian industry as a means to gain competitive advantage through informed decision-making and Sustainability Reports are seen by decision-makers as evidence of good corporate citizenship, and are increasingly used by financial institutions seeking more information to judge investment risk and opportunity. Its specific role on Sustainability Reporting is to assist companies initiate or improve the process of reporting by measuring their economic achievements, their contribution to social upliftment and environmental enrichment. It is also providing assistance to SMEs though a special vehicle of public private partnership. It also offers technical assistance on how companies can use engagement to strengthen their relationship with their stakeholders and to generate ideas / initiatives that will lead to improvement of company's performance / existing practices and to better corporate sustainability management. The challenges businesses face from rapid changes in innovations and market conditions require inclusive management strategies that ensure businesses opportunities for sustained growth. Internationally, stakeholder engagement is being used as a structured and systematic tool to gain stakeholder feedback that will lead to reducing sustainability risks and harnessing sustainability opportunities. Adopting sustainability as a goal now will help corporations develop business models that will leave competitors scrambling to catch up, according to a new report from the Harvard Business Review. The report, Why Sustainability is now the Key Driver of Innovation, lays out five stages for successfully adopting corporate sustainability. Authors came to their conclusions by looking at best practices at companies such as HP, Wal-Mart, Clorox and others. Stage 1 Viewing compliance as opportunity. The stick is sometimes more compelling than the carrot, but companies should not view sustainability in this light. Instead, develop the internal ability to anticipate and help shape regulations. This requires working with other companies, including rivals, to develop industry standards. Stage 2 Making value chains sustainable. XIMB Environment & Sustainability 27/06/2011 Page 8

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XIMB Semester-1 (2011-13 Batch) By learning how to address carbon management and life-cycle assessments, and designing operations to use less energy and water, companies can discover sustainable sources of raw materials, components and energy. By addressing waste throughout the supply chain, a company will reduce its costs. Stage 3 Designing sustainable products and services. Companies should conduct a full product review to determine which ones are most harmful to the environment, then work to improve the product or phase it out. Effectively doing so helps a company be seen by the public as a true green company, and not one that is engaged in green washing. Developing compact and eco-friendly packaging is a good first step, but companies also should consider the notion of biomimicry in product design. Stage 4 Developing new business models. By adopting more sustainable practices internally, a company begins to better understand what todays eco-minded consumer wants to purchase. Opportunities include developing new delivery methods or technologies to save costs and creating monetization models that relate more to services than to products. Companies also are urged to develop business models that combine digital and physical infrastructures. Stage 5 Creating next-practice platforms. By looking beyond its current core competencies with an eye toward sustainability, a company can begin to redefine itself as a next-generation operation that may even involve expansion into new and different industries. One of the key drivers in this stage is creating business platforms that enable customers, suppliers and partners to manage energy in radically improved ways. Another opportunity is to develop products that require less or no water, as compared to similar products that are water-intensive. According to a recent qualitative study by the Avastone Corporate Sustainability Study (ACSS), which researches corporate sustainability among ten global companies, some of whom are recognized as sustainability icons; The Top Contributors to Success were: Shared Values, Ethics, and Guiding Principles: Aspects of the companys culture, collective worldview, and language that support sustainability efforts. Reflects the internal DNA of the companyincluding historical roots in key areasefficiency, safety, care for workers, etc. Leadership: Key people, who define sustainability, set direction, champion efforts, and hold the organization accountable for results. Goals, Metrics, and Reporting: Communication of overall direction through goals and targets, along with means to measure, track, and report on progress realized. Page 9

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XIMB Semester-1 (2011-13 Batch) Engagement: Involving peoplewhether internal or externalin a process of listening, understanding, and building buy-in on direction, plans, and activities. Structure: Creating organizational forms, positions, placement of right people in right places, and support for decision-making and action.

Sustaining global economic development will demand a substantial shift in the role of industry by bringing innovation to drive sustainability and profit. Indias rapid emergence as a global economic player is being propelled in large substance by its business and industry sector, which is increasingly contributing innovative solutions for integration of development and environmental sustainability. The fact that rapid economic growth is the only realistic means to lift the poor out of extreme poverty and the fact that most economic activities depend on products and services provided by the ecosystems, necessitates the ushering of a new business paradigm which enables rapid economic growth without compromising the capacity of the ecosystem to sustain, nurture and fuel economic development and human well-being. In the 21st century, poverty and natural resource constraints will be two of the most important challenges humanity must come to grips with. Instead of seeing this as a problem, a new generation of companies across the developed and developing countries have already begun to transform these needs into opportunities. With a third of the population under the poverty line and natural resources below the global average, India in many ways is not only a miniature version of the global economy, but is already in a situation that the world will face in a not too distant future. So solutions that can be used in a sustainable way in India are likely to be extremely important for the world and also anticipated by it in the years to come. After enjoying the benefits of low-hanging fruits - like switching to energy-saving lighting, buying recycled office supplies, printing double-sided and providing support through philanthropy- what is the next step? There is no doubt that the low hanging fruits are a good start, but more is needed to mainstream these measures. If we are to meet the poverty and environmental challenge, mere add-on measures will not be enough, innovation regarding both production and markets is required. Sustainability can, for example, drive cost savings through efficiencies, creating new markets and securing competitive advantage. However, companies must use the limits of the planet and needs of the people as the starting point to an even larger degree and ensure that the core business is delivering on these challenges. It is no longer only about compliance with regulations or securing positive press coverage, the next generation companies that are leaders in the area of sustainability have already realized that what is good for the environment and the society, should also be good for business. These are the companies that will remain relevant for future. The world is getting better, but it is not getting better fast enough, and it is not getting better for everyone, argued Bill Gates at the World Economic Forum, Davos 2008. He called for creative capitalism: an approach where governments, businesses and nonprofits work XIMB Environment & Sustainability 27/06/2011 Page 10

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XIMB Semester-1 (2011-13 Batch) together to stretch the reach of market forces so that more people can make a profit, or gain recognition, doing work that eases the world's inequities. The inequities between the haves and the have-nots, starkest in India, need to be reduced if other key sustainability challenges are to be tackled. Traditional approach of development aid and philanthropy have had limited success. Poverty is most effectively reduced through engaging the poor and the excluded in the economic growth. The businesses, with their increasing contribution to economic growth with substantial social and environmental impacts, are best placed to facilitate this engagement. C K Prahalad, in The Fortune at the Bottom of the Pyramid, presented not just the hidden fortune with the four billion people who live on less than $2 per day globally, but how businesses could identify, tap into, and expand this fortune by developing new models of doing business, often using new technology. Prahalad proposes that businesses, governments and donor agencies stop thinking of the poor as victims and instead start seeing them as resilient and creative entrepreneurs as well as value-demanding consumers. He proposes that tremendous benefits will accrue to businesses that choose to serve these markets in ways that are responsive to their needs. After all the poor of today can be the middle-class of tomorrow. Michael Porter and Mark Kramer sum up these new opportunities in their Harvard Business Review article on the links between competitive advantage and corporate social responsibility (CSR). They conclude that CSR offers many of the greatest opportunities for companies to benefit society. Further, ifcorporations were to analyze their prospects for social responsibility using the same frameworks that guide their core choices, they would discover that CSR can be much more than a cost, a constraint, or a charitable deed - it can be a source of opportunity, innovation, and competitive advantage. What all this means is that corporations can derive sustainability value and increase business value at the same time, if they are able to identify opportunities within the array of risks and challenges. Success of microfinance in South Asia and parts of Africa, pricing and distribution of HIV-ARVs, extending stripped-down versions of FMCG products to the poor, communitybased waste management, home-cleaning and waste disposal services in slums, are some of the many examples of where companies have begun to shift from risk and cost approach to opportunity and profit approach for sustainability. India poses sustainability challenges of huge scales for businesses to tackle through innovative approaches. India has a third of its population still under the poverty line, is amongst the most vulnerable countries to climate change impacts, and also has one of the highest incidences of diseases such as HIV/AIDS, TB and Diabetes. At the same time, India is among the fastest growing economies in the world, has the youngest population, and offers one of the largest markets for renewable energy. This interesting mix of strengths and weak areas makes the country a breeding ground for innovations. The bottom of the pyramid, the 800 million Indians, can become a major source of breakthrough innovations.

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XIMB Semester-1 (2011-13 Batch) In a situation where greenhouse gas (GHG) emissions, and in particular that of carbon dioxide (CO2) emissions need to be dramatically reduced, efficient use of natural resources has to be encouraged and a better life has to be provided for billions of people, disruptive technologies are the most important. Obviously sustaining innovations can also help, but if too much focus is spent on them, the really sustainable ideas might get lost. To conclude, while most sustainability challenges such as income disparity, loss of biodiversity and associated impacts - are not new; globalization has directly or indirectly exacerbated many problems to a degree where many of these questions are now dealt with as matters of global and national security, e.g. climate change and food prices. Information technology is propelling increased awareness about the scope of societal needs and the lack of progress to date by governments and traditional non-governmental organizations. Businesses, civil society and governments, once considered strange bed-fellows, are now working together to resolve some of the most chronic problems. Finding solutions for the worlds most pressing problems in particular, poverty and climate change is no longer the exclusive domain of governments, aid agencies and NGOs. Entrepreneurs and business leaders too are demonstrating that almost no problem is too big to be tackled through innovation. Interestingly, India and other emerging regions are breeding grounds for such innovative businesses and enterprises. They have recognized the challenge early, and are responding creatively, thus pushing the envelope for their prosperity. Local firms and multinationals that have localized themselves are most likely to lead and master the change. Though Indias remarkable achievements in creating highly competitive and innovative companies are globally acknowledged, it underscores on the challenge of extending that success beyond traditional industry, urban and academic centres to rural communities, where 70 per cent of the population still resides. Going forward, India and other developing economies need to address poverty alleviation as well as sustainable routes to development. Resource-efficient solutions will help companies contribute to this task, as well as add to their global competitiveness. The earth, the air, the land and the water are not an inheritance from our forefathers but on loan from our children. So we have to handover to them at least as it was handed over to us. - Mahatma Gandhi

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XIMB Semester-1 (2011-13 Batch)

Faculty

Bushen Raina Chairman, JUSCO Limited. Mr.Bushen Raina is Chairman at JUSCO Limited. He has the rich experience of working with Tata Steel and its associate companies in a career that has spanned Manufacturing, Marketing and General Management. He served as Director, International Trade for Tata Steel for a period ranging from 1993 to 1997. Mr.Raina has over 4 decades of experience in Tata Steel, credited with establishing its international steel trading business as well as turning around its subsidiary the Tinplate Company of India Ltd.(TCIL) into a market leader for tinplate products in India and West/South East Asia. Pursuit of charge management initiatives transformed a heavy loss making company into an EVA +ve company with three fold increase in productivity, doubling of domestic market share and 25% of its production exported on a sustained basis to discerning markets. This was recognized widely and the Indian Institute of Management, Ahmedabad featured the unprecedented turnaround of TCIL as a case study. TCIL was awarded the coveted JRDQV Award in 2007; one amongst the only 7 companies at that time, in the 92 Tata Group companies to have received it since its inception in 1995. It has also won CII EXIM Bank Prize in 2008. In addition to carrying out his job responsibilities, the current Board and Governing body positions held by Mr.Raina comprise of:

Chairman & Non Executive Director on Board of Jusco Limited, A Tata Enterprise(from 2009) Director on Board of The Tinplate Company of India, A Tata Enterprise(from 2009) Chairman, India Tinplate Manufactures Association(from 2007) Founder & Chairman of The Tinplate Promotion Council(from 2001) Member, Board of Governors & President, Alumni Association, XLRI, Jamshedpur (from 2000) Chairman, Seva Sadan(from 2008)

Mr.Raina has also been the Chairman, CII (Eastern Region) (2006-07), India and Chairman, India Institute of Packaging (2005-07), India. XIMB Environment & Sustainability 27/06/2011 Page 13

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XIMB Semester-1 (2011-13 Batch) Engineering and a Management Graduate, Mr.Raina further pursued a 6 Tier Sr. Management Programme (1994-95) at CEDEP (INSEAD), France.

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XIMB Semester-1 (2011-13 Batch)

Program Overview
A) Program Agenda - 27th-29th June 2011
SESSION -1:

Sustainability Corporate Governance for Sustainability

SESSION -2:

Climate Change, GHG Emissions and Carbon Trading Water

B) Program Agenda - 11th-13th July 2011

SESSION -3:

o o o

Social Inclusion Affirmative Action Social Entrepreneurship BOP From Obligation to Opportunity

SESSION -4:

o o o

Sustainability as a driver for Innovation Innovation Inclusive Business Models ITC Case Study

Balance Program Schedule will be announced later.

Case Study-1: Selco India Case Study-2: Rainforest Negotiation Exercise Case Study-3: TATA Nano :The Peoples Car Case Study-4: ITC

o Reference Books Capitalism at the Crossroads Stuart Hart The Fortune at the Bottom of the Pyramid C.K.Prahalad How to change the World David Bornstein The Sustainable Company Chris Laszlo

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XIMB Semester-1 (2011-13 Batch) o Other Reading Materials(Soft Files)

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