Table Of ContentSUSTAINABILITY
OBFU SIINNE SS
THCEO NOTFE XT
ENVIRONMENTAL
MANAGEMENT
SUSTAINABILITY
OF BUSINESSIN
THE CONTEXT OF
ENVIRONMENTAL
M ANAGEMENT
Kamlesh Pritwani
The Energy and Resources Institute
CRCPress
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1
Preface
India has improved its ranking in industrial growth. This industrial
success is attributed to sustainability of businesses, leading technologies,
diverse product portfolios, strong consumer base and proper environmental
management practices. Indian culture and ethos of ‘responsible business’
demonstrate the sense of moral responsibility and create long-term
value to different business stakeholders for enabling sustainable business
practices.
Indian companies have to redefine their values and primary objectives
of business for customer satisfaction and green production for contributing
to the well-being of society and striving for ‘sustainable development’. The
year 2010 was the ‘Green Business Year’, focusing on the carbon emission
reduction, renewable energy and green production in order to respond
towards societal expectations. In 2011, the UN celebrated the International
Year of Forests. The UN declared 2012 as the International Year of
Sustainable Energy for All, and 2013 was designated as the International
Year of Water Cooperation.
Although internal movement has been initiated in Indian companies
to rethink about business sustainability and significant progress has been
made for reduction of energy consumption and carbon emission by some
leading Indian companies, lot of work remains to be done. Indian companies
have to take initiatives to assure compliance with G3 GRI global guidelines
for corporate reporting practices. Hence, corporate reporting plays a key
role in the balanced growth of an organization’s economic, environmental,
and social performance.
It is high time that voices from Kyoto Protocol, Climate Pacts, CERES,
ICGN, UNFCCC and UNEP programme are heard to save the planet and
environment. Recently, 21st Session of Conference of Parties (COP21) to
the UNFCCC hosted by France (from 30 November to 11 December 2015)
gave message for keeping the global warming level below 2°C. Leading
Indian NGOs, such as TERI, CSE, ISST, and Karmayog, are also doing
commendable work in this direction. Indian Government has also taken
initiatives through various national programmes.
vi Preface
Customers are conscious of the quality of product, but they do not
query about the way the product is manufactured and the level of pollution
generated during the production process. In the near future, the demand of
green products will increase owing to the awareness of customers. Hence,
business has to be accountable for mitigating pollution and safeguarding
the customer rights. Incentives-based specific industrial pollution control
mechanism needs to be developed for encouraging cost-effective cleaner
technologies and waste minimization process.
The unending process of globalization and liberalization of market and
economy has expanded opportunities and prompted the introduction of new
ideas of leadership and management. The proliferation of business strategies
in globalized world necessitates the need for expanding socio-environmental
concerns of business.
India is the fastest growing major economy in the world. Yet, no study
has examined the ‘operational role’ of Indian companies in view of CSR,
sustainable business, and environmental management. It is high time to
observe sustainability of Indian companies. Indian Companies Act, 2013
provides provisions for incurring expenditures on CSR, minimum 2% of
average corporate net profits, which has made India the first country to
mandate CSR. The newly emerged concept of ‘Sustainable Business’ has
been studied in view of the growing Indian economy, with 7.6% GDP
growth rate during 2015–16. As per IMF Outlook 2015, India ranks among
the top 10 largest global economies.
This book explores the current CSR practices adopted with special
reference to environmental management in Indian companies. It is the
socio-economic multidisciplinary empirical study covering different aspects
of economics, management, commerce, sociology, science and technology,
and so on. Business sustainability comprises numerous aspects. In this
book, the aspect of environmental sustainability in view of CSR and its
linkage with financial performance is dealt with.
This study is a humble effort towards social justice, as remarkable
economic growth is impossible without social justice. In this technologically
competitive era, various Indian and foreign universities have also initiated
environmental-related courses. Therefore, concerned students and teachers
may also refer this book as a vital compendium. Further, the book will
help researchers better understand the dimensions of different corporate
environmental concerns. It will also throw light on the initiatives of the
government regarding industrial concerns. This book will help determine the
strategic path of sustained business growth, not only for Indian companies
but also for businesses at the global level.
1
Acknowledgements
I would like to extend my heartfelt gratitude to University Grants
Commission, New Delhi, for supporting this advanced research study. I am
grateful to all staff members of S G S G Government College, Nasirabad,
Government College, Kherwara, and Savitri Girls College, Ajmer for giving
me the moral support.
New innovative ideas and strong research aptitude of Dr Naveen Kumar
Sharma had inspired me to present this work in this elegant shape.
Academic interactions with CPCB, SPCB officials, academicians
Prof. Bhagirath Singh, Prof. K. C. Sodani, Prof. B. P. Saraswat, Prof. K.
C. Sharma, Prof. Azhar Kazmi, Prof. Jagdish Prasad, Prof. P. K. Sharma,
Prof. Karoonesh Saxena, Prof. N. M. Khandelwal, Prof. Manoj Kumar,
Prof. K. R. Sharma, Prof. Manju Singh, Dr Rashmi Saxena, Dr A. K.
Raina, Dr R. K. Motwani, Dr D. C. Sharma, R. K. Goyal enlightened my
thought process. I am highly thankful to higher authorities of industries
mainly Dr N. J. Singh (DSCL, Kota), Mr Vivek Bhatia (CFCL, Kota),
Mr R. S. Choyal (Choyal Industries) and Mr R. K. Singhvi (Shree Cement,
Beawer) for providing industrial advice for this research work.
My special thanks are to UGC Ex Secretary Prof. N. Kazmi and
Prof. R. K. Chauhan, UGC Staff members Shyam Bahadur, Shyam Singh
and L. N. Sahu for esteemed support for this research work.
I would like to thank the libraries of TERI, CSE, ISST, Rajasthan
University, MDS University, Punjab University, IDS, IIM Ahmedabad for
providing study material support to make this study more informative and
comprehensive. My special appreciation is due to Dinesh Prajapati, Shalimar
Corner. I am thankful to TERI Press, New Delhi. I must acknowledge my
family members, especially my husband and children for their unconditional
support. Finally, this research work is dedicated to my mother (late) Shanta
Devi, father (late) Tuljaram Asnani, mother-in-law (late) Kaushalya Devi
and father-in-Law (late) Vasudev Pritwani.
1
Status of Forest Resources:
World and India
Contents
Preface v
Acknowledgements vii
1. Introduction 1
Prologue 1
Growing Indian Economy 5
Market Economy 9
Moving Towards Green Economy 10
India’s Industrial Growth at a Glance 13
Role of Government 16
India: Environmental Facts 19
Global Environmental Initiatives 21
Global Sustainable Business Initiatives 24
Role of International Agencies in Environmental Management 27
Conclusion 29
2. Literature Review 31
Concept of Efficient Market: A Move Towards
Sustainable Business 31
Original View of Research Study 48
Ultimate View 49
Recent Research Highlights of Different Agencies on
CSR and Environment 50
3. Research Methodology 63
Introduction 63
Research Design 64
Research Questions 66
Objectives 67
Hypotheses 67
