Emphasising the need for a new corporate culture to make businesses more sustainable, Union minister for corporate affairs Veerappa Moily has urged India Inc to balance equity and growth.
“Sustainability is a major concern for the corporate sector and business community, especially in developing countries like ours. We have to look at our present without compromising the future. Global warming is the true challenge when it comes to environmental damage,” the minister said while presenting the FE-EVI Green Business Leadership Awards 2011-12 at a glittering ceremony in the Capital on Tuesday. The event was organised jointly by The Financial Express and Emergent Ventures India.
The award ceremony was accompanied by the launch of the FE-EVI Green Business Survey 2011-12. MK Venu, managing editor, The Financial Express, said: “The core elements of sustainable development are gradually becoming part of the consciousness of corporate entities. FE-EVI Survey has strived to play a catalysing role in this regard.”
The FE-EVI Green Business Survey helps businesses that are fighting climate change and undertaking sustainability initiatives by benchmarking, measuring progress and tracking the industry outlook. It details the sector-wise outlook of firms on climate change and sustainability issues.
Moily’s address was followed by a panel discussion ‘Will Rio bring some light at the end of the tunnel?’
The panel discussion made way for the awards, presented to a cross section of industry sectors, including Mahindra & Mahindra, Shree Cement, Tata Chemicals, Tata Coffee, Cognizant Technology Solutions, Essar Steel, Larsen & Toubro and Jain Irrigation Systems as winners in their respective categories.
The winners were shortlisted and selected from nearly 600 companies, each with a revenue of Rs 1,000 crore, on the basis of the impact their initiatives have made, in areas like climate change and environment, natural resources management and governance for sustainability.