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Environment & SustainabilityXIMB Semester-1 (2011-13 Batch)

Preface

The world around us is changing rapidly. Technology continues to evolve at an exponentialrate; populations are booming, economies rise and fall. Amidst all this, our precious energy

and water resources are becoming more and more strained, creating enormous challengesfor utilities across the globe. Sustaining the world around us, from its people to its naturalwonders, can be a daunting challenge. But it also presents an incredible opportunityanopportunity to make the world a better place for us all.

In recent years, as corporations and governments have increasingly been confronted withmanaging the expectations of a society newly alerted to the social and environmental risks ofeconomic development, recognition is dawning that achieving a sustainable world isdependent upon the democratic management and equitable distribution of these risks fornow, and for the future. Sustainable development involves meeting the needs of the presentwithout compromising the ability of future generations to meet their own needs.

With more and more stakeholders being environmentally conscious today, businesses arebeing moulded to develop and incorporate sustainability at every stage. At many companies,being socially responsible has typically meant handing out compensation to victims of naturaldisasters, environmental groups, or producers of green TV commercials. Now the corporatesustainability 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 togo easier on the environment

Sustainability has emerged as a factor in determining which companies win in themarketplace, 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 sustainabilityand governance, and that these key concepts have been redefined considerably over time.

Management strategies driven by shareholder value objectives have been highly successfulfor businesses of all sizes in the past fifty years. Focusing on shareholder return fostered thecreation of a fast-moving, responsive business culture in which the priorities were clear andthe measure of success was apparent. As a result, such objectives have been a powerfulengine in creating value. But, despite the clear benefits of this traditional model, drivingbusinesses by shareholder value alone is now also a largely unsustainable one. The weighttraditionally placed on shareholder return means a whole range of concerns that shouldnt beoverlooked 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 mayhave desired it.

Growth sectors such as telecom, infrastructure, transport, retail are not only relevant fortheir double digit growth rates, but also for their significant sustainability footprint. In abusiness as usual scenario, these sectors could have a lopsided impact; impressiveeconomic benefits at the cost of environmental degradation and social unrest. Use ofresources, waste management, pollution, climate change and biodiversity are all issues of

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great importance which, in the traditional business model, have had to give way to themaximization 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 communitiesor 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 anddramatic leaps in technological innovation has been nothing short of frenetic. Asorganizations of all types and sizes have come to rely on the Internet to transact globally withcustomers and business partners and streamline business processes, the form and fiber oforganizations has changed. Complementing this transformation in how companies interactwith stakeholders is the question of how organizations should be interacting with the worldtheir communities, their markets, and the planet. Where does the corporate entity fit, and howdoes it help form and strengthen the fabric of its world?

These are the questions of corporate sustainability. As many suggest, there are morequestions 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 itisnt, and what organizations should be doing about it. For many of these questions, we haveyet to find full or sufficient answers.

In the meantime, definitions of the very term sustainability fluctuate between the poles ofMilton Friedman, who said, the business of business is business, to corporate socialresponsibility (CSR) mantras, which add social responsibility to the mix of organizationalmusts, to Andrew Zollis term eco-innovation revolution coined to describe the current eraas we exit the industrial and information ages. While some experts, like strategist MichaelPorter, state that the varied approaches to sustainability taken by corporations are piecemealand 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, mostimportantly, opportunity. Within the complex nature of sustainability we have the opportunityto usher in a newly crafted world, one for which there is no precedent. To envision this newworld is to see the possibility of new economy, new governance, and even new philosophy. Itis to hold the possibility that the new world is not a variation on how things are nowbut anessentially new paradigm for living.

We are unlikely to meet the future effectively with existing perspectives and mindsets. Tousher 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 inways that they understand, and expand the very meaning of sustainability. As Albert Einsteinsaid, No problem can be solved from the same level of consciousness that created it. Inessence, a shift in consciousness is needed to effect substantial change. Embracing thecomplexity of sustainability, calls for understanding it at a new level of consciousness.

Sustainability is the capacity to endure. In ecology, the word describes how biologicalsystems remain diverse and productive over time. Long-lived and healthy wetlands and



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forests are examples of sustainable biological systems. For humans, sustainability is thepotential for long-term maintenance of well being, which has environmental, economic, andsocial 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 witheconomic growth and ecological balance.

Healthy ecosystems and environments provide vital goods and services to humans and otherorganisms. There are two major ways of reducing negative human impact and enhancingecosystem services. The first is environmental management; this approach is based largelyon information gained from earth science, environmental science, and conservation biology.The second approach is management of human consumption of resources, which is basedlargely on information gained from economics.

Sustainability interfaces with economics through the social and ecological consequences ofeconomic activity. Sustainability economics involves ecological economics where social,cultural, health-related and monetary/financial aspects are integrated. Moving towardssustainability is also a social challenge that entails international and national law, urbanplanning and transport, local and individual lifestyles and ethical consumerism. Ways of livingmore 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), usingscience to develop new technologies (green technologies, renewable energy), to adjustmentsin individual lifestyles that conserve natural resources.

Corporate sustainability is a business approach that creates long-term consumer andemployee value by not only creating a "green" strategy aimed towards the naturalenvironment, but taking into consideration every dimension of how a business operates in thesocial, cultural, and economic environment. Also, it means formulating strategies to build acompany that fosters longevity through transparency and proper employee development.

Corporate sustainability is an evolution on more traditional phrases describing ethicalcorporate practice. Phrases such as corporate social responsibility (CSR) or corporatecitizenship 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 environmentalconsiderations.

The last 20 years have seen growing concerns about economic systems and businessmodels that foster economic disparity and environmental imbalances, despite technologicaladvances and improved standards of living. These concerns have inspired intensediscussions about sustainability.



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Businesses across the world are therefore recognizing the need to address theenvironmental and social impacts of their activities which, together with profits are popularlyknown as the 'triple bottom line' issues of sustainable development. Thus, the sustainablebusiness debate is shifting from public relations to questions of competitive advantage andcorporate governance. New and emerging definitions of business opportunity and financial

risks are forcing Corporate Boards to address issues such as environmental quality, socialjustice and economic efficiency.

Indian business is growing rapidly in size, scope and global reach. However, growth andcontinuance of business in the long-term, when the nation is targeting higher levels ofeconomic leap-frog, cannot be achieved at the cost of our already fragile environment andweak social fabric. Businesses today face pressures which are different from theirpredecessors and their roles and responsibilities are being dramatically redefined in the faceof changing expectations. Conventional businesses would view these pressures andexpectations as threats to business growth and shareholder value creation.

Today, businesses need to identify strategies and practices that can turn the threats intoopportunities and contribute to a more sustainable world while simultaneously drivingshareholder value; which can be defined as the creation of sustainable value. Realdevelopment will not come about because of some government decrees or some changes inthe ways businesses operate. To produce the necessary changes and to initiate apostindustrial renaissance, new ideas, connections, and social networks are needed. This willonly happen when a diverse and diffused critical mass of people and businesses decide tolive 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 andimplement strategies which meet the needs and expectations of a complex range ofstakeholders that include employees, governments, communities and civil society. The resultis that many leaders are fundamentally questioning and changing the way they manage theirorganizations, prompting an assessment of the understanding needed by those who lead andshape the organization.

A key issue for businesses that want to respond to the challenge posed by sustainabledevelopment is how to take effective action. The CII Centre of Excellence for SustainableDevelopment is pioneering Corporate Sustainability Management (CSM) for Indian industry inthe 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. Benefitsof CSM include enhanced decision-making, reduced risks, reduced costs, increased optionsand innovation, and increased number and loyalty of clients. These benefits position acompany as partner of choice, attract talent and financial resources, and ultimately enhance



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competitiveness and profitability. Above all, CSM provides the prospect of being architects ofa 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 needto embrace environmental, social and economic drivers of society so as to achieve any levelof stability in the global commons.

Nurture internal capabilities - Strategic commitment and culture necessary to turn theenvironmental, 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 ashared 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 andsocial impacts of their activities which, together with profits are popularly known as the 'triplebottom line' issues of Sustainable Development. Thus, the sustainable business debate isshifting from public relations to questions of competitive advantage and corporategovernance.

Approach to Corporate Sustainability Management includes: a) Balance between the market

economy, environmental efficiency and social upliftment. b) Manage sustainability agenda asan integral part of the competitive strategy by building confidence and trust among theirstakeholders.

Develop a strategic perspective on 'Sustainability'.

Identify critical success factors that determine business results with a sustainabilityapproach.

Develop knowledge and skills to leverage leadership capability to inculcate thesustainability culture

Create sustainable business strategies and world-class execution capability toactualize 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



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pressure grows for short time profit maximization. Today's business leaders operate in anincreasingly complex world marked by uncertainty and tougher climate to make accuratedecisions for tomorrow. Strategic Repositioning for sustained competitiveness are required tomanage the complexity of business risks and opportunities that relate to a company'seconomic viability and capacity for social upliftment and environmental enrichment

imperatives.

Today, there is a greater understanding that corporate strategy can be crafted to encompassa larger picture that not only enhances competitiveness but also ensures responsible andsustainable growth. It is important that such initiatives are encouraged through stakeholderawareness and response. A key purpose of Sustainability Reporting is to assistorganizations, both large and small, in identifying the cross-cutting dimensions of triplebottom line performance and in understanding the process elements of accountability andengagements. It is through this learning and change process that the organizations start tomeasure, report and improve on the way they make decisions and take actions. And by doingso, 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 thegoal of sustainable development. A sustainability report provides a balanced and reasonablerepresentation of the sustainability performance of the reporting organization, including bothpositive and negative contributions.

The Centre promotes Sustainability Reporting as a means to gain competitive advantagethrough informed decision-making and Sustainability Reports are seen by decision-makers asevidence of good corporate citizenship, and are increasingly used by financial institutionsseeking 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 ofreporting by measuring their economic achievements, contribution to social upliftment andenvironmental enrichment.

Sustainability Reporting: The Benefits

Sustainability reporting is generating considerable interest around the world and is becomingone of the basic criteria for judging the social responsibility of organizations. Business leadersare starting to realize that comprehensive reporting helps support company strategy andshows commitment to sustainable development. The corporate benefits of sustainableperformance are also markedly reduced when key stakeholders do not know what you are

doing. Thus companies are issuing Sustainability Reports to enlarge the scope ofconventional corporate financial reporting. The report helps them ensure transparentcommunication and engagement with their stakeholders in respect to the company'ssustainability performance.

It has become imperative for the companies to have stakeholder engagement due to thegrowing awareness of the stakeholder because of the easy and speedy access toinformation. The stakeholders like government agencies, employees, investors, financial



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institutions, community, NGOs, consumers, etc. have become more demanding and ask thecompany to disclose information on its social, environmental and economic impacts. Thecompanies are also under peer pressure from their competitors to perform well their socialresponsibilities and report them to gain a competitive advantage to be recognized as asocially 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 ofSustainability 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 amongthe 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. Theownership of physical assets, like manufacturing facilities, is only part of the marketcapitalization of a company today. Its value and the ability to grow in the long term is highlyinfluenced by the natural, social and human capital including intangible assets such asmanagement skills, reputation, human and intellectual capital, and the ability to work inpartnership with stakeholders. Yet these capitals and assets are excluded from the balancesheet because of the difficulty in objectively valuing them.

Globally, there is a trend towards businesses providing economic, environment and socialinformation into the public domain through Sustainability Reports. It has also beeninternationally established that sustainability reporting leads to improved businessperformance through communication of information with stakeholder groups like customers,suppliers, employees, financial institutions, regulators and communities on a company'seconomic, environmental and social management and performance.



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Sustainability reporting addresses how societal trends are affecting the company, and howthe company's presence and operations are affecting society. As such, sustainabilityreporting can demonstrate a company's motivation and willingness to position itself in abroader context.

With India emerging as an economic giant amidst the Asian economies and the burgeoningglobalization, Sustainability Reporting is emerging as a trend in Indian and trans-nationalcompanies with operations in India. Gradually Indian companies are recognizing thechallenge of going global and are bracing themselves to keep up with the competition in theinternational markets with respect to voluntary reporting initiatives becoming market-basedinstruments.

The CII ITC Centre of Excellence for Sustainable Development promotes SustainabilityReporting amongst Indian industry as a means to gain competitive advantage throughinformed decision-making and Sustainability Reports are seen by decision-makers asevidence of good corporate citizenship, and are increasingly used by financial institutions

seeking more information to judge investment risk and opportunity. Its specific role onSustainability Reporting is to assist companies initiate or improve the process of reporting bymeasuring their economic achievements, their contribution to social upliftment andenvironmental enrichment. It is also providing assistance to SMEs though a special vehicleof public private partnership. It also offers technical assistance on how companies can useengagement to strengthen their relationship with their stakeholders and to generate ideas /initiatives that will lead to improvement of company's performance / existing practices and tobetter corporate sustainability management.

The challenges businesses face from rapid changes in innovations and market conditionsrequire inclusive management strategies that ensure businesses opportunities for sustained

growth. Internationally, stakeholder engagement is being used as a structured and systematictool to gain stakeholder feedback that will lead to reducing sustainability risks and harnessingsustainability opportunities.

Adopting sustainability as a goal now will help corporations develop business models that willleave competitors scrambling to catch up, according to a new report from the HarvardBusiness Review. The report, Why Sustainability is now the Key Driver of Innovation, laysout five stages for successfully adopting corporate sustainability. Authors came to theirconclusions by looking at best practices at companies such as HP, Wal-Mart, Clorox andothers.

Stage 1 Viewing compliance as opportunity.

The stick is sometimes more compelling than the carrot, but companies should not viewsustainability in this light. Instead, develop the internal ability to anticipate and help shaperegulations. This requires working with other companies, including rivals, to develop industrystandards.

Stage 2 Making value chains sustainable.



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By learning how to address carbon management and life-cycle assessments, and designingoperations to use less energy and water, companies can discover sustainable sources of rawmaterials, components and energy. By addressing waste throughout the supply chain, acompany 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 tothe environment, then work to improve the product or phase it out. Effectively doing so helpsa company be seen by the public as a true green company, and not one that is engaged ingreen washing. Developing compact and eco-friendly packaging is a good first step, butcompanies 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 understandwhat todays eco-minded consumer wants to purchase. Opportunities include developing newdelivery methods or technologies to save costs and creating monetization models that relatemore to services than to products. Companies also are urged to develop business modelsthat combine digital and physical infrastructures.

Stage 5 Creating next-practice platforms.

By looking beyond its current core competencies with an eye toward sustainability, acompany can begin to redefine itself as a next-generation operation that may even involveexpansion 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 inradically improved ways. Another opportunity is to develop products that require less or nowater, 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 ofwhom 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 theinternal 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 goalsand targets, along with means to measure, track, and report on progress realized.



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Engagement: Involving peoplewhether internal or externalin a process oflistening, understanding, and building buy-in on direction, plans, and activities.

Structure: Creating organizational forms, positions, placement of right people in rightplaces, and support for decision-making and action.

Sustaining global economic development will demand a substantial shift in the role of industryby bringing innovation to drive sustainability and profit. Indias rapid emergence as a globaleconomic player is being propelled in large substance by its business and industry sector,which is increasingly contributing innovative solutions for integration of development andenvironmental sustainability.

The fact that rapid economic growth is the only realistic means to lift the poor out of extremepoverty and the fact that most economic activities depend on products and services providedby the ecosystems, necessitates the ushering of a new business paradigm which enablesrapid 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 importantchallenges humanity must come to grips with. Instead of seeing this as a problem, a newgeneration of companies across the developed and developing countries have already begunto transform these needs into opportunities. With a third of the population under the povertyline and natural resources below the global average, India in many ways is not only aminiature version of the global economy, but is already in a situation that the world will face ina not too distant future. So solutions that can be used in a sustainable way in India are likelyto 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 throughphilanthropy- what is the next step? There is no doubt that the low hanging fruits are a goodstart, but more is needed to mainstream these measures. If we are to meet the poverty andenvironmental challenge, mere add-on measures will not be enough, innovation regardingboth production and markets is required.

Sustainability can, for example, drive cost savings through efficiencies, creating new marketsand securing competitive advantage. However, companies must use the limits of the planetand needs of the people as the starting point to an even larger degree and ensure that thecore 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 areleaders in the area of sustainability have already realized that what is good for theenvironment and the society, should also be good for business. These are the companiesthat will remain relevant for future.

The world is getting better, but it is not getting better fast enough, and it is not getting betterfor everyone, argued Bill Gates at the World Economic Forum, Davos 2008. He called forcreative capitalism: an approach where governments, businesses and nonprofits work



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together to stretch the reach of market forces so that more people can make a profit, or gainrecognition, doing work that eases the world's inequities.

The inequities between the haves and the have-nots, starkest in India, need to be reduced ifother key sustainability challenges are to be tackled. Traditional approach of development aid

and philanthropy have had limited success. Poverty is most effectively reduced throughengaging the poor and the excluded in the economic growth. The businesses, with theirincreasing contribution to economic growth with substantial social and environmentalimpacts, are best placed to facilitate this engagement.

C K Prahalad, in The Fortune at the Bottom of the Pyramid, presented not just the hiddenfortune with the four billion people who live on less than $2 per day globally, but howbusinesses could identify, tap into, and expand this fortune by developing new models ofdoing business, often using new technology. Prahalad proposes that businesses,governments and donor agencies stop thinking of the poor as victims and instead start seeingthem as resilient and creative entrepreneurs as well as value-demanding consumers. He

proposes that tremendous benefits will accrue to businesses that choose to serve thesemarkets in ways that are responsive to their needs. After all the poor of today can be themiddle-class of tomorrow.

Michael Porter and Mark Kramer sum up these new opportunities in their Harvard BusinessReview article on the links between competitive advantage and corporate social responsibility(CSR). They conclude that CSR offers many of the greatest opportunities for companies tobenefit society. Further, ifcorporations were to analyze their prospects for socialresponsibility using the same frameworks that guide their core choices, they would discoverthat CSR can be much more than a cost, a constraint, or a charitable deed - it can be asource of opportunity, innovation, and competitive advantage.

What all this means is that corporations can derive sustainability value and increase businessvalue at the same time, if they are able to identify opportunities within the array of risks andchallenges. Success of microfinance in South Asia and parts of Africa, pricing and distributionof HIV-ARVs, extending stripped-down versions of FMCG products to the poor, community-based waste management, home-cleaning and waste disposal services in slums, are some ofthe many examples of where companies have begun to shift from risk and cost approach toopportunity and profit approach for sustainability.

India poses sustainability challenges of huge scales for businesses to tackle throughinnovative 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 thehighest incidences of diseases such as HIV/AIDS, TB and Diabetes. At the same time, Indiais among the fastest growing economies in the world, has the youngest population, and offersone of the largest markets for renewable energy. This interesting mix of strengths and weakareas makes the country a breeding ground for innovations. The bottom of the pyramid, the800 million Indians, can become a major source of breakthrough innovations.



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In a situation where greenhouse gas (GHG) emissions, and in particular that of carbondioxide (CO2) emissions need to be dramatically reduced, efficient use of natural resourceshas to be encouraged and a better life has to be provided for billions of people, disruptivetechnologies are the most important. Obviously sustaining innovations can also help, but iftoo much focus is spent on them, the really sustainable ideas might get lost.

To conclude, while most sustainability challenges such as income disparity, loss ofbiodiversity and associated impacts - are not new; globalization has directly or indirectlyexacerbated many problems to a degree where many of these questions are now dealt withas matters of global and national security, e.g. climate change and food prices. Informationtechnology is propelling increased awareness about the scope of societal needs and the lackof progress to date by governments and traditional non-governmental organizations.Businesses, civil society and governments, once considered strange bed-fellows, are nowworking 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 bigto be tackled through innovation. Interestingly, India and other emerging regions are breedinggrounds for such innovative businesses and enterprises. They have recognized the challengeearly, and are responding creatively, thus pushing the envelope for their prosperity. Localfirms and multinationals that have localized themselves are most likely to lead and master thechange.

Though Indias remarkable achievements in creating highly competitive and innovativecompanies are globally acknowledged, it underscores on the challenge of extending thatsuccess beyond traditional industry, urban and academic centres to rural communities, where

70 per cent of the population still resides. Going forward, India and other developingeconomies 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 theirglobal competitiveness.

The earth, the air, the land and the water are not an inheritance from our forefathers buton 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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Faculty

Bushen RainaChairman, JUSCO Limited.

Mr.Bushen Raina is Chairman at JUSCO Limited. He has the rich experience of working withTata 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 itsinternational steel trading business as well as turning around its subsidiary the TinplateCompany of India Ltd.(TCIL) into a market leader for tinplate products in India andWest/South East Asia. Pursuit of charge management initiatives transformed a heavy lossmaking company into an EVA +ve company with three fold increase in productivity, doublingof domestic market share and 25% of its production exported on a sustained basis todiscerning 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 companiesat that time, in the 92 Tata Group companies to have received it since its inception in 1995. Ithas 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 TataEnterprise(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.



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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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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:

Social Inclusiono Affirmative Action

o Social Entrepreneurship

o BOP From Obligation to Opportunity

SESSION -4:

Sustainability as a driver for Innovationo Innovation

o Inclusive Business Models

o ITC Case Study

Balance Program Schedule will be announced later.

Case Study-1: Selco IndiaCase Study-2: Rainforest Negotiation ExerciseCase Study-3: TATA Nano :The Peoples CarCase 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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o Other Reading Materials(Soft Files)


Documents

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