Confrence on Sustainable Development

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Conference on sustainable development in india

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1. Conference on Sustainable Development in IndiaPerspectives, Issues & OpportunitiesOn March 12, 2011

2. Sustainable Development in IndiaGovernance, Ethics And Social ResponsibilityWithReference to Industrial Sector

3. Sustainable DevelopmentAccording to the Direct Government website UKSustainable Development means a better quality of life now and for generations tocome. It means not using up resources faster than the planet can replenish, or re-stockthem and joining up economic, social and environmental goals. It also influences decisionmaking within organisations, and therefore can go towards forming principles andbusiness values.

4. Sustainable Development Determinants of SustainableDevelopmentConsumptionProductionDistribution

5. Major Achievements Global Trends in Sustainable Energy Investment 2010, releasedon July 2010, India was ranked eighthin the world in terms of investment in sustainableenergy. The report further stated that India invested around US$ 2.7 billion in sustainableenergy in 2009. (UNEP)India has been ranked ninth in the tree planting roll of honour in2009 in a campaign to plant a billion trees, which was launched by the United NationsEnvironment Programme (UNEP) in November 2006. The number of carbon creditsissued for emission reduction projects in India is set to triple over the next year to 246million by December 2012 from 72 million in November 2009, according to a CRISILResearch study.

6. Role of Industries in S.D.Industries play a major role in catering the needs of thepeople in India which again uses the natural resources available. The goods they producefor the society should be delivered in such a way that it should be more ethical and socialcost of the production should be minimised. It has to be noted that the production shouldbe done in such a manner that it should be profitable for the society as well as for theorganization in light of future. Thus following are some of the issues which can helpachieving Sustainable Development in India.
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7. Business Ethics"People of the same trade seldom meet together, even for merrimentand diversion, but the conversation ends in a conspiracy against the public, or in somecontrivance to raise prices."Adam SmithThis area of Business Ethics usually deals with

the duties of a company to ensure that products and production processes do not causeharm. There is usually a degree of danger in any product or production process and it is

difficult to define a degree of permissibility, or the degree of permissibility may dependon the changing state of preventative technologies or changing social perceptions ofacceptable risk

8. Business EthicsSome Ethical issues:-Defective, addictive and inherently dangerousproducts and services (e.g. tobacco, alcohol, weapons, motor vehicles, chemicalmanufacturing, bungee jumping). Ethical relations between the company and theenvironment: pollution, environmental ethics, carbon emissions trading. Ethical problemsarising out of new technologies: genetically modified food, mobile phone radiation andhealth. Product testing ethics: animal rights and animal testing, use of economicallydisadvantaged groups (such as students) as test objects.

9. Business Ethics EthicalRefinery at Jamnagar is the largest grass root refinery in theWorld. In this 7500 acre Refinery complex where only barren land existed a few yearsago one can now find an oasis in the form of massive greenery of more than 32 lakhplants of more than 200 species.

10. Business Ethics UnethicalKala Dera - Thirsting from Coca-ColaCoca-Cola's bottlingplant in Kala Dera operated in an "overexploited" groundwater area and the Coca-Cola'sbottling plant had "significant impacts", the assessment noted that "the plant's operationsin this area would continue to be one of the contributors to a worsening water situationand a source of stress to the communities around.TERI Assessment Report 2006

11. Corporate GovernanceCorporate Governance is concerned with holding the balancebetween economic and social goals and between individual and communal goals. Thecorporate governance framework is there to encourage the efficient use of resources andequally to require accountability for the stewardship of those resources. The aim is toalign as nearly as possible the interests of individuals, corporations and society. The

issue is particularly important for developing countries since it is central to financial andeconomic development. With the legacy of the English legal system, India has one of thebest Corporate Governance laws but poor implementation together with socialisticpolicies of the perform Era has affected corporate governance.

12. Corporate GovernanceA National Foundation for Corporate Governance (NFCG) hasbeen established by the Ministry of Corporate Affairs. This is a partnership with theConfederation of Indian Industry (CII), the Institute of Company Secretaries of India(ICSI) and the Institute of Chartered Accountants of India (ICAI). The purpose of theNational Foundation for Corporate Governance is to promote better corporate governancepractices and raise the standard of corporate governance in India towards achievingstability and growth.Increasingly, boards are being made responsible for sustainability ofthe companies they govern. The need to ensure a high degree of sustainability inearnings, values, human and other resources and the environment in which the companiesoperate is gaining importance in India. So governance can be a great factor to sustainabledevelopment and proper governance can lead to development of the organization as wellas Sustainable Development of India.


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13. Corporate GovernanceONGC was awarded'Golden Peacock Award for Excellence inCorporate Social Responsibility in Emerging Economies 2006 - by World Council forCorporate Governance, UK. 'Golden Peacock Award for Excellence in CorporateGovernance - 2006' by Institute of Directors. Committees formed by SEBI1ST KumarMangalam Birla Committee 2ND N.R Narayan Murthy CommitteeTo review the

progress of the corporate sector in meeting the norms of corporate governance and todetermine the role of companies in responding to rumor and other price-sensitiveinformation circulating in the market.

14. Social Responsibility Corporate Social Responsibility (CSR) is a concept throughwhich organizations consider the interests of society by taking responsibility for theimpact their activities have on customers, suppliers, employees, communities and theenvironment.Business depends on society for the needed inputs like money, men, skills,sustenance and encouragement and has definite responsibilities for the society so it isobligatory for business enterprises to make decision and should follow the line of actionwhich are desirable in terms of the objectives and value of society.

15. Social Responsibility The world business council for sustainable development hasdescribed Corporate Social Responsibility as the business contribution to sustainabledevelopment.Various companies think over it and find it as a corner side stone whichlead to the path of success and helps them in achieving the long term benefits, goodwords of mouth and also the relaxation `N` awards from government.

16. Social Responsibility In 2000, TISCO won National Corporate Governance award,instituted by the union finance ministry and sponsored by the Unit Trust of India(UTI).TISCO FACTORY Jamshedpur

17. Social Responsibility Pepsi Co. Commitment :Replenishing WaterWaste toWealthPartnership with Farmers

18. Social Responsibility With growing globalization, Corporate Social Responsibility(CSR) had been increasing in importance as it helped organizations to improve theirrelationships with local communities, increase brand value, and build a good corporateimage for themselves. Also, the socio-economic developmental activities undertaken bycompanies increased the purchasing power of the community, leading to an expansion intheir market size. After all it is said that:Responsible business is good business.

19. Conclusion Sustainable development is not mere responsibility of any individual orindustry or governmentDevelopment India is not very strong. Government andcompanies like Pepsi Co., TISCO, Infosys, ONGC, Ford, DLF and many are takinginitiatives and are being responsible to the society. They are making effort to save ournatural resources But on the other hand company like Coca cola which is a leader ofIndian soft drink market is not being ethical to the society and is responsible of resourcedepletion in 6 regions of the country.

20. Conclusion Reliance Industries Ltd is one of the best example which had performedsuch tremendous efforts for the Sustainable Development of India like Jamnagarproject.This is very rare that any of the above stated groups are performing their duties tothe extent of their expectations like Reliance Industries Ltd. and TISCO who have everbeen a landmark in performing Corporate Social Responsibility and discharging theirduties ethically.

21. Conclusion There is list of companies that are planning to minimize the risk ofresource depletion in India and the world and these organizations has been realizing the


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bottom-line benefits of incorporating sustainability into their DNA. Its beneficial forattraction and retention and its the right thing to do.We need more of them for

Sustainable Development in India.

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Confrence on Sustainable Development