Dr. Ghosh pointed out that companies should look at enhancing their reputation as an ethical corporation which they can achieve by being environmentally proactive. Companies should not take CSR as an imposition, but an opportunity to showcase their interest in environmental preservation.
He suggested some profit-making opportunities from investment in sustainability. It is believed that capex spend on environmental aspects is money down the drain, but with due diligence and innovation, it can be converted into profitable options. Companies can provide environmental services, realizing the value of externalities of environment and early mover in technology can help companies to derive benefits from sustainability drives as well.
Dr. Arbind Prasad, Director General, FICCI, said that a balanced view of how the corporate sector’s initiative combined with an enabling policy framework can create the context for a sustainable growth path was needed. The need for collaborative approach between industry and government and an enabling framework that would provide greater simplification, transparency, and accountability for all stakeholders was well recognized. However, the bigger challenge lies in enabling the SMEs to make the transition to a new sustainability paradigm. This conclave seeks to promote and enable this transition for the corporate sector towards the new sustainability paradigm.
India Sustainability Conclave is FICCI’s annual flagship event launched in March 2012. The third edition of the event was held on February 4-5, 2014 in New Delhi. ThinktoSustain.com was the ‘Media Partner’ for the event.