Complete paper arbaaz & suhail

Title of Paper:
Sustainable development in India: Governance, Ethics and Corporate
Social Responsibility.

Author`s Name:
Arbaaz khan, Student MBA 2nd semester, Al-Barkaat Institute of
Management Studies, Aligarh.
Suhail khan, Student MBA 2nd semester, Al-Barkaat Institute of
Management Studies, Aligarh.

Official Address:
Al-Barkaat Institute of Management, Post CDF, Anoopshahr Road,
Aligarh-202122

Phone: +919897707221, +919837254094
E-mail ID:arbaaz.abims@gmail.com, suhail.abims@gmail.com .

1

ABSTRACT:

SUSTAINABLE DEVELOPMENT IN INDIA
Governance, Ethics and Corporate Social Responsibility.

Arbaaz Khan & Suhail Khan

Sustainable development is commonly defined as “development that meets the needs of the
present without compromising the ability of future generations to meet their own needs”
(United Nations Department of Economic and Social Affairs, Division for Sustainable
Development, Web site).

As India is one of the most developing country of the world and the growth rate of population
is very high, the need is to handle resources carefully. The more the population will increase
more will be the rate of consumption and the utilization of natural resources of the country.
As a result the natural resources will soon be depleted. The environment should be seen as an
asset for the human beings and the natural resources should be used in such a way that it can
be made available to our future generations.

Industries play a major role in catering the needs of the people in India which again uses the
natural resources available. The goods they produce for the society should be delivered in
such a way that it should be more ethical and social cost of the production should be
minimised. It has to be noted that the production should be done in such a manner that it
should be profitable for the society as well as for the organization in light of future.

Sustainable development concerns a wide range of interrelated issues which have to be taken
care of. But,

In this paper we will discuss about sustainable development of the country through
governance, ethics and corporate social responsibility. How the above problem can be solved
and how sustainable development can be achieved.

Sustainable Development in India With Special Reference To Industrial
2

Sector

“Our biggest challenge in this new century is to take an idea that seems abstract-
sustainable development- and turn it into a reality for all the world’s people”

(Kofi Annan, Former UN Secretary General)

Introduction
The word sustainability is derived from the Latin sustinere (tenere, to hold; sus, up).
Dictionaries provide more than ten meanings for sustain, the main ones being to “maintain",
"support", or "endure”. However, since the 1980s sustainability has been used more in the
sense of human sustainability on planet Earth and this has resulted in the most widely quoted
definition of sustainability and sustainable development

Development means developing or being developed or a stage of growth or advancement or
thing that has developed; new event or circumstance etc. (latest developments) or full-grown
state or developed land; group of buildings (Oxford Dictionary).

According to the Direct Government website UK “Sustainable development means a better
quality of life now and for generations to come. It means not using up resources faster than
the planet can replenish, or re-stock them and joining up economic, social and environmental
goals. It also influences decision making within organisations, and therefore can go towards
forming principles and business ‘values’ - for example, providing information to the public in
an open and accessible way and involving people and communities who are affected by those
decisions. Or in openly reporting how they run their business and the care they take about the
local environment and the people that work for them. These principles can also apply to
government policies – for example, in planning regulations for green buildings and
technologies. It is also about being clear and responsible about the use of scientific, and other,
evidence – for example, about levels of pollution or carbon emissions.

The underlying driver of direct human impacts on the environment is human
consumption. This impact is reduced by not only consuming less but by also making the full
cycle of production, use and disposal more sustainable. Consumption of goods and services
can be analysed and managed at all scales through the chain of consumption, starting with the
effects of individual lifestyle choices and spending patterns, through to the resource demands
of specific goods and services, the impacts of economic sectors, through national economies
to the global economy. Analysis of consumption patterns relates resource use to the
environmental, social and economic impacts at the scale or context under investigation. The
ideas of embodied resource use (the total resources needed to produce a product or
service), resource intensity, and productivity are important tools for understanding the

3

impacts of consumption. Key resource categories relating to human needs
are food, energy, materials and water.

Time and again, it is stressed that the available natural resources are not harnessed to its
optimum for the national development in India (Swaminathan, 2002). Energy is of prime
importance for the national growth. Of all the energy sources, hydel energy ranks next to
solar energy in environmental friendly option. Himachal Pradesh is the state which has large
potential for the production of hydel energy which till today stands untapped. The field of
sustainable development can be conceptually divided into four general dimensions: social,
economic, environmental and institutional

As per a report by UN Environment Program (UNEP), ‘Global Trends in Sustainable Energy
Investment 2010’, released on July 2010, India was ranked eighth in the world in terms of
investment in sustainable energy. The report further stated that India invested around US$ 2.7
billion in sustainable energy in 2009.

In India is expected to begin the greening of its national income accounting, making
depletion in natural resources wealth a key component in its measurement of gross domestic
product (GDP).

Major Achievements

India has been ranked ninth in the tree planting roll of honour in 2009 in a campaign to plant
a billion trees, which was launched by the United Nations Environment Programme (UNEP)
in November 2006.

The Secretary of the Ministry of Environment and Forests, Mr. Vijay Sharma, announced that
India has joined the United Nations Environment Programme's Plant for the Planet: Billion
Tree Campaign (BTC) by planting two billion trees since 2007.

The number of carbon credits issued for emission reduction projects in India is set to triple
over the next year to 246 million by December 2012 from 72 million in November 2009,
according to a CRISIL Research study.

This will cement India's second position in the global carbon credits market (technically
called Certified Emission Reduction units or CERs). The growth in CER issuance will be
driven by capacity additions in the renewable energy sector and by the eligibility of more
renewable energy projects to issue CERs. Consequently, the share of renewable energy
projects in Indian CERs will increase to 31 per cent.

TERI – The Energy and Resources Institute says Mainstream forms of renewable energy are

1. Wind power
2. Hydropower

4

3. Solar energy
4. Biomass
5. Biofuel
6. Geothermal energy

For sustainable development there have been several issues that have to look deeply. Some of
them are discussed below.

Business Ethics

This area of business ethics usually deals with the duties of a company to ensure that products
and production processes do not cause harm. Some of the more acute dilemmas in this area
arise out of the fact that 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 depend on the changing state of preventative technologies or changing social perceptions
of acceptable risk.

Ethics in business is necessary because business can become unethical, and there are plenty
of evidences today on unethical corporate practices. Even Adam Smith opined that "People
of the same trade seldom meet together, even for merriment and diversion, but the
conversation ends in a conspiracy against the public, or in some contrivance to raise prices."
Firms and corporations operate in the social and natural environment. By virtue of existing in
such environments, business is duty bound to be accountable to the natural and social
environment in which it survives. One of the conditions that brought business ethics to the
forefront is the demise of small scale, high trust and face-to-face enterprises, and emergence
of huge multinational corporate structures capable of drastically affecting everyday lives of
the masses.

Unethical business in India became a recognized phenomenon during the Second World War.
An academic / generalistic / legal concern with the ethics has become visible only during the
nineties. Corruption of the poor & corruption of the rich needs to be distinguished especially
in the context of globalization. The danger of attributing unethical practices to the system
failure is recognized. It is also important to bring to beat on intellectual property rights the
more fundamental principle of natural property rights. Consciousness ethics will more crucial
then just intellectual ethics.

Until the year 1992, ethics in business was hardly a topic of concerted engagement at any
level- except in two or three business schools in the country. It was only the two billion dollar
stock exchange Fiasco in 1992 which threw up ethics issue at the macro level. Since then
investigative journalism has been playing a key role in highlighting corrupt fraudulent
practices with in the “business-politics-criminals” (BPC) triangle.

The cumulative ethical depression began to break loose as an ethical cyclone with economic
liberalization adopted by India in 1991. But now companies are offering more eco-friendly
5

alternatives for their customers. Recycled products for example, are one of the most popular
alternatives that can benefit the environment. These benefits include sustainable forestry,
clean air, energy efficiency, water conservation, and a healthy office. One example is the E-
commerce business and office supply company Shoplet which offers a web tool that allows
you to replace similar items in your shopping cart with greener products.

The concept of green marketing is at glance in the present scenario in India.

According to the American Marketing Association, green marketing is the marketing of
products that are presumed to be environmentally safe. Thus green marketing incorporates a
broad range of activities, including product modification, changes to the production process,
packaging changes, as well as modifying advertising.

What is ethical?
It is still a big question yet to be asked to the industrial organizations that what ethics are to
them.

1. Defective, addictive and inherently dangerous products and services (e.g. tobacco,
alcohol, weapons, motor vehicles, chemical manufacturing, bungee jumping).
2. Ethical relations between the company and the environment: pollution,
environmental ethics, carbon emissions trading
3. Ethical problems arising out of new technologies: genetically modified food,
mobile phone radiation and health.
4. Product testing ethics: animal rights and animal testing, use of economically
disadvantaged groups (such as students) as test objects.

Some of the above business practices are very common in the general business environment.
These types of issues should be taken care off. Thus the question arises if the Indian
government does not consider these practices ethical than why government does not take
neccesary measures to shut these practices down or to lower down the rate of these practices.

Coca-Cola Continues Unethical and Dishonest Practices in India- A Case

Shut Down Kala Dera Bottling Plant
India Resource Center
September 12, 2008
San Francisco: It is said that those who don't learn from the mistakes of the past are destined
to repeat them.

The manner in which the Coca-Cola Company has decided to deal with another community-
led campaign in India - in the village of Kala Dera in the state of Rajasthan - is indicative of
the arrogance and impunity of the company that has landed it in trouble before and Coca-
Cola in India is in for a rude awakening, again.
6

Kala Dera - Thirsting from Coca-Cola

Kala Dera is a large village outside the city of Jaipur where agriculture is the primary source
of livelihood. Coca-Cola started its bottling operations in Kala Dera in 2000, and within a
year, the community started to notice a rapid decline in groundwater levels.

For farmers, loss of groundwater translated
directly into loss of income. For women, it
meant having to walk an additional 5 to 6
kilometre just to fetch water to meet the basic
daily needs of the family. For many children in Kala Dera, it meant leaving schools to
provide a much needed helping hand doing household chores since the women had additional
burdens.

The community in Kala Dera organized itself to challenge the Coca-Cola Company for
the worsening water conditions - through extraction and pollution - and demanded the
closure of the Coca-Cola bottling plant.

Stop Using Groundwater in Kala Dera

Some of the most disturbing findings in the assessment concerned Coca-Cola's bottling
plant in Kala Dera were

Confirming that Coca-Cola's bottling plant in Kala Dera operated in an "overexploited"
groundwater area and the Coca-Cola's bottling plant had "significant impacts", the assessment
noted that "the plant's operations in this area would continue to be one of the contributors to a
worsening water situation and a source of stress to the communities around."

The assessment made four recommendations with regard to the Coca-Cola bottling plant in
Kala Dera, making it clear that Coca-Cola could no longer utilize the overexploited
groundwater resource in Kala Dera:

The company, in usual fashion, denied any wrongdoing, blaming "outsiders" for the
increasing local community opposition.

Forced Assessment Validates Community Concerns

One of the successful campaigns was at the prestigious University of Michigan in the US,
which, after a sustained student-led campaign in which the India Resource Center represented
the India issues, placed the Coca-Cola Company on probation on January 1, 2006. The
university also mandated that Coca-Cola agree to an independent assessment of its operations
in India if it ever wanted to do business with the university.

The assessment, paid for by Coca-Cola and conducted by The Energy and Resources Institute
(TERI), only looked at six bottling plants in India and was released in January 2008.

7

The assessment was a scathing indictment of Coca-Cola's operations in India.

Validating the concerns of the communities campaigning against Coca-Cola, the assessment
noted that Coca-Cola approached its operations in India from a "business continuity"
perspective that ignored the impacts on the community. Some recommendations that were
given by TERI were:

1. Transport water from the nearest aquifer that may not be stressed
2. Store water from low-stress seasons
3. Relocate the plant to a water-surplus area
4. Shut down this facility

The community in Kala Dera, needless to say, welcomed the recommendations.

Unfortunately, they still wait for Coca-Cola to make good on the recommendations made by
the assessment that Coca-Cola itself paid for.

Even the TERI assessment, which looked at Coca-Cola's CSR initiatives in Kala Dera, notes
that "all the recharge shafts that were randomly visited were found to be in dilapidated
conditions."

That is one of the examples of present conditions of ethics in industrialization in India. That
how these MNC`S are ruining the environment for their sole purpose. These types of
organization are the major reasons of depletion of natural resources in India.

On the other hand

Reliance is known for its excellence and massive scale of operations in whatever it ventures
in. Its Refinery at Jamnagar is the largest grass root refinery in the World. In this 7500 acre
Refinery complex where only barren land existed a few years ago one can now find an oasis
in the form of massive greenery of more than 32 lakh plants of more than 200 species. Within
last 6-7 years there has been a total transformation of the barren waste land into lush green
countryside. Late Legendary Shri Dhirubhai Ambani believed that if the standard of living of
the rural masses is to be improved we must improve our agriculture. He had firm conviction
that agriculture has tremendous potential to generate employment. He was therefore thinking
of investing in agriculture in such a way that it can generate wealth for the nation, create
employment and bring smiles to the millions of our rural men and women. At the same time
he was very careful not to deprive any farmers of their cultivable lands. He therefore came to
the idea of developing waste lands which are in millions of acres in India into horticulture
and plantations. Reliance has planted more than 100,000 mango trees in the green belt of
Refinery complex from 1998 to 2004 in fond memory of Late Shri Dhirubhai Ambani who
was a great lover of mangoes and befittingly named it as Dhirubhai Ambani Lakhibag
Amrayee which is testimony to his vision and dream.
Environmental damage inevitably threatens the welfare of human beings as we as plants and
animals. Threats to the environment come from two sources pollution and resource depletion.

8

Conservation of the natural resources is necessary as it is the right of future generations to use
these resources.

“We cannot have an ecological movement designed to prevent violence against nature,
unless of non-violence becomes central to the ethics of human culture.”
Mahatma Gandhi

Governance

Governance is the activity of governing. It relates to decisions that define expectations, grant
power, or verify performance. It consists either of a separate process or of a specific part of
management or leadership processes. Sometimes people set up a government to administer
these processes and systems.

In the case of a business or of a non-profit organization, governance relates to consistent
management, cohesive policies, guidance, processes and decision-rights for a given area of
responsibility.

The latest literacy levels indicate that we still have over 350 Million illiterates in India. This
number is larger than the total population of any other country in the world except China.
Illiteracy causes many ills and it generates its own problems.

Corporate governance
Corporate governance consists of the set of processes, customs, policies, laws and institutions
affecting the way people direct administer or control corporation. Corporate governance also
includes the relationships among the many players involved (the stakeholders) and the
corporate goals. The principal players include the shareholders, management, and the board
of directors. Other stakeholders include employees, suppliers, customers, banks and other
lenders, regulators, the environment and the community at large.

“Corporate Governance is concerned with holding the balance between economic and social
goals and between individual and communal goals. The corporate governance framework is
there to encourage the efficient use of resources and equally to require accountability for the
stewardship of those resources. The aim is to align as nearly as possible the interests of
individuals, corporations and society.”

Report of SEBI committee (India) on Corporate Governance defines “Corporate governance
as the acceptance by management of the inalienable rights of shareholders as the true owners
of the corporation and of their own role as trustees on behalf of the shareholders. It is about
commitment to values, about ethical business conduct and about making a distinction
between personal & corporate funds in the management of a company.” The definition is
drawn from the Gandhian principle of trusteeship and the Directive Principles of the Indian
Constitution. Corporate Governance is viewed as business ethics and a moral duty.

9

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

Investor like mutual funds has limited impact of performance in India. Ownership by other
groups like directors, foreigners and lending institutions, on the other hand, appear to
improve performance. In post-liberalization India, foreign ownership helps performance only
if the foreigners constitute the majority shareholders.

In India, enforcement of corporate laws remains the soft underbelly of the legal and corporate
governance system. The World Bank’s Reports on the Observance of Standards and Codes
(ROSC) publishes a country-by-country analysis of the observance of OECD’s Corporate
Governance codes. In its 2004 report on India, the ROSC found that while India observed or
largely observed most of the principles, it could do better in certain areas. The contribution of
nominee directors from financial institutions to monitoring and supervising management is
one such area. Improvements are also necessary in the enforcement of certain laws and
regulations like those pertaining to stock listing in major exchanges and insider trading as
well as in dealing with violations of the Companies Act – the backbone of corporate
governance system in India.

Amongst boards that senior managers know their job and have the best interests of companies
they manage at heart.

A National Foundation for Corporate Governance (NFCG) has been established by the
Ministry of Corporate Affairs. This is a partnership with the Confederation of Indian Industry
(CII), the Institute of Company Secretaries of India (ICSI) and the Institute of Chartered
Accountants of India (ICAI). The purpose of the National Foundation for Corporate
Governance is to promote better corporate governance practices and raise the standard of
corporate governance in India towards achieving stability and growth.

Many Indian companies operate in a family-owned culture. There has been an implicit
assumption sometimes resulted in boards performing well or until there is a refraining from
asking the difficult questions to senior managers when the company has been crisis. The
family members may or may not be able to govern the organization as a trained professional
can do. This is the main drawback of these types of organization which lacks the interest of
the society or sustainable development of the society.

What is good corporate governance?

10

Good corporate governance is characterized by a firm commitment and adoption of ethical
practices by an organization across its entire value chain and in all of its dealings with a wide
group of stakeholders encompassing employees, customers, vendors, regulators and
shareholders (including the minority shareholders), in both good and bad times. To achieve
this, certain checks and practices need to be whole-heartedly embraced.

Clause 49 of the listing agreement with stock exchanges provides the code of Corporate
governance prescribed by SEBI for listed Indian companies. With the Introduction of clause
49, compliance with its requirements is mandatory for such Companies.

Management Discussion and Analysis (MD&A), which highlights the structure,
Developments, opportunities, threats, concerns, etc. of the company is becoming an important
section of the annual report.

Increasingly, boards are being made responsible for sustainability of the companies they
govern. The need to ensure a high degree of sustainability in earnings, values, human and
other resources and the environment in which the companies operate is gaining importance in
India. So governance can be a great factor to sustainable development and proper governance
can lead to development of the organization as well as sustainable development of India.
The positive effect of corporate governance on different stakeholders ultimately is a
strengthened economy, and hence good corporate governance is a tool for sustainable
development.

Social Responsibility
In the development of corporate ethics, we have reached a stage where the question of the
social responsibility of business to the community can no longer be scoffed at or taken
lightly. In the environment of modern economic development, the corporate sector no longer
functions in isolation. If the plea of the companies that they are performing a social purpose
in the development of the country is to be accepted, it can only be judged by the test of social
responsiveness shown to the needs of the community by the companies. The company must
behave and function as a responsible member of society, like any other individual. It cannot
shun moral values, nor can it ignore actual compulsions. The real need is for some focus of
accountability on the part of the management which is not limited to shareholders alone. In
modern times, the objectives of business have to be the proper utilization of resources for the
benefit of others. A profit is still a necessary part of the total picture but it is not the primary
purpose. This implies that the claims of various interests will have to be balanced not on the
narrow ground of what is best for the shareholders alone but from the point of view of what is
best for the community at large. The company must accept its obligation to be socially
responsible and to work for the larger benefit of the community. (Courtesy: Government of
India, Report of high powered Expert Committee on Companies and MRTPA Acts (Sachar
Committee), 1978.

11

The history of social and environmental concern about business is as old as trade and
business itself but there are no legal obligations and no laws which state that it is mandatory
for an organization to be socially responsible.

In Ancient Mesopotamia around 1700 BC, King Hammurabi introduced a code in which
builders, innkeepers or farmers were put to death if their negligence caused the deaths of
others, or major inconvenience to local citizens.

Business depends on society for the needed inputs like money, men, skills, sustenance and
encouragement and has definite responsibilities for the society so it is obligatory for business
enterprises to make decision and should follow the line of action which are desirable in terms
of the objectives and value of society.

Corporate Social Responsibility in India

Corporate Social Responsibility (CSR) is a concept through which organizations consider the
interests of society by taking responsibility for the impact their activities have on customers,
suppliers, employees, communities and the environment. This responsibility goes beyond
compliance with regulations and is about organizations voluntarily taking further steps to
improve the quality of life for employees as well as for the local community and society at
large.

Experts in the area of corporate social responsibility (CSR) have argued that CSR is not just
philanthropy by companies. It should involve the right combination of enhancing long-term
shareholder value and protecting the interests of various other stakeholders (such as
employees, creditors, consumers and the society in general).

The world business council for sustainable development has described Corporate Social
Responsibility as the business contribution to sustainable development.

Ford as an Initiator of Corporate Social Responsibility says

“We endeavor to become a leading contributor to a more sustainable world
“Affect change, provide for those in need, and improve quality of life.”
“The ford motor company fund supports many local and national programs to affect change,
provide for those in need, and improve quality of life.”

But various companies think over it and find it as a corner side stone which lead to the path
of success and helps them in achieving the long term benefits good words of mouth and also
the relaxation and awards from government.

Vodafone promises to come up with the new technology that will minimize the carbon mono
oxide up to 50% by 2020. Examples such as:
 TATA TEA “jaago re” For Vote Appeal, corruption, bribery and
 McDonalds’ “going green” for planting trees

12

 ITC collecting money from every product and spreading education free of cost to the
rural and remote area children are the proof of growing CSR practices in India.

"ONGC is continuously and consciously involved and focused towards corporate social
responsibility in all decisions and activities undertaken in the organization. ONGC is
committed to allocate 0.75% of net profit of the year towards socio-economic development
programmes." - Dr. Madhav Mehra, President, World Council for Corporate Governance, in
May 2006.

According to N R Narayana Murthy, chairman and chief executive officer of Infosys
technologies, corporate social responsibility is to create maximum shareholder value working
under the circumstances where it is fair to all its stakeholder-workers, consumers, the
community, government and environment. He points out that by living In harmony with the
community and environment around us and not cheating our workers, we might not get
anything in the short run, but in the long term it means greater profits and shareholder`s
value.

Since its inception, the Tata iron and steel company (TISCO) has been a shining example of
social responsibility. The committee appointed to conduct the social audit if TISCO observed
if its report: “At a time when Max Weber, the great German socialist, was advocating his
theory of transforming a traditional society into a modern one through industrialization and
modern management, little did he know that in the jungles of Bihar an Indian visionary had
already planned the establishment of the first steel city (not a mere factory) in Asia. Before he
passed away, Jamsed Ji Tata in a letter to his son Dorab instructed him: “be sure to lay out
wide streets planted with shady trees, every other one of a quick growing variety. Be sure
there is plenty of space for lawns and gardens. Reserve large areas of football, hokey and
parks. Earmark areas for Hindu temples, mohammedan mosques and Christian churches”.
No wonder Jamshedpur emerged as beautiful and a well developed city.

1970 witnessed a landmark development when Articles of Associations of the company
was amended to incorporate the social and moral responsibilities of the company to the
consumers, employees, shareholders, society and the local people. A decade later the board of
directors of TISCO appointed a social audit committee to go in to the question of whether and
to what extent the company had fulfilled social obligations laid down in the articles. This
resulted in the first social audit ever undertaken by any company, public or private, in India,
at a time it was not popular anywhere in the world. The report of the committee was a
glowing tribute to TISCO`s endeavors in the discharge of its social obligations to the
segments of the society.
In 2000, TISCO won National Corporate Governance award, instituted by the union finance
ministry and sponsored by the Unit Trust of India (UTI).

For DLF, Corporate Social Responsibility is not just an add on; rather our business and social
commitment are mutually reinforcing and neither will be sustainable without the other. We
have a continuing social responsibility towards the people of the area in which we operate
13

more so towards the less fortunate. It has been our constant endeavor to create sustainable
economies and transform stagnant lives into active partnerships through synergized proactive
handholding in areas of infrastructure, education, training, health and environment. We have
made a public commitment to carry on these trusted relationships.

Pepsico. Commitment

As one of the world’s leading food and beverage companies we believe it is our responsibility
to provide affordable, accessible and nutritionally sound food and beverages to our
consumers in developing countries. As part of a coordinated, global private sector coalition,
our five key global commitments over the next five years will

Innovate product composition and availability to provide healthier product options that
address both excess and deficient consumption of specific nutrients and calories. Clearly,
micronutrient deficiencies are a pressing need in developing nations and could be addressed
in part through functional foods.
Provide clear nutrition information to consumers, including consumers in regions where
nutrition information is not required.
Globalize individual company and regional measures to ensure responsible marketing and
advertising of foods and non-alcoholic beverages to children, bringing increasing proportions
of the industry into the fold.
Target individual company communications and forge public-private partnerships to
cultivate awareness and adoption of healthier lifestyles worldwide.
Commit our time, expertise and resources to support public-private partnerships to
accomplish the objectives of the WHO Strategy.

Further Pepsi Co. also initiated some ideas for social responsibility

Replenishing Water
In 2009, through our various initiatives of replenishing water we were able to give back to the
community more than consumed in our manufacturing processes.

Waste to Wealth
Quality organic manure and recyclable waste is recycled. PepsiCo India’s unique Waste to
Wealth initiatives to convert bio-degradable waste into high
Partnership With Farmers

Pepsico. India continues to strengthen it’s partnerships with Farmers across the country to
boost their productivity and income.

With growing globalization, Corporate Social Responsibility (CSR) had been increasing in
importance as it helped organizations to improve their relationships with local communities,
increase brand value, and build a good corporate image for themselves. Also, the socio-

14

economic developmental activities undertaken by companies increased the purchasing power
of the community, leading to an expansion in their market size. After all it is said that:

“Responsible business is good business.”

Conclusion

Sustainable development is not mere responsibility of any individual or industry or
government. It is the responsibility of all the above stated groups to perform a combined
effort for the development in any country.

The current position of Sustainable Development India is not very strong. Government and
companies like Pepsi Co., TISCO, Infosys, ONGC, Ford, DLF and many more are taking
many initiatives and are being responsible to the society are taking effort to save our natural
resources but on the other hand company like Coca cola which is a leader of Indian soft drink
market is not being ethical to the society and is responsible of resource depletion in 6 regions
of the country.
Reliance Industries Ltd is one of the most important example which had performed such
tremendous efforts for the Sustainable Development of India like Jamnagar project.

This is very rare that any of the above stated groups are performing their duties to the extent
of their expectations like Reliance Industries Ltd. and TISCO who have ever been a landmark
in performing Corporate Social Responsibility and discharging their duties ethically.

Indian government has taken many initiatives for sustainable development of the country like
the ban on use of plastic for packaging in many regions and green mission that will be
launched in 2012 in Mysore but again,
A major question arises after the policies are formed that
Are these policies being implemented in the country?

There is list of companies that are planning to minimize the risk of resource depletion in India
and the world and these organizations has been realizing the bottom-line benefits of
incorporating sustainability into their DNA. It’s beneficial for attraction and retention and
it’s the right thing to do.
We need more of them for Sustainable Development in India.

REFERENCES
1. 2011, Business Ethics
http://en.wikipedia.org/wiki/Business_ethics#Corporate_ethics_policies

15

2. 2011, Renewable Energy Commercialization
http://en.wikipedia.org/wiki/Renewable_energy_commercialization

3. 2011, Sustainable Energy
http://en.wikipedia.org/wiki/sustainable_energy

4. 2011, Green Marketing
http://en.wikipedia.org/wiki/Green_marketing#Phillips.27s_.22Marathon.22_CFL_lightbulb

5. S.K Chakraborty, 1997, Business Ethics In India
http://www.springerlink.com/content/m464j0206h324842/

6. Mr. Amit Shrivastava, 2008, India Resource Center
http://www.indiaresource.org/campaigns/coke/2008/kaladeraunethical.html

7. 2011, Sustainable Development
http://en.wikipedia.org/wiki/Sustainable_development

8. Mr. Sunderial Bahuguna, 2009, Sustainable Development, Learning And Perspective In India
http://envfor.nic.in/divisions/ic/wssd/doc4/consul_book_persp.pdf

9. 2011, Sustainability
http://en.wikipedia.org/wiki/Sustainability#Environmental_dimension

10. 2011, Governance
http://en.wikipedia.org/wiki/Governance

11. 2011, Corporate Governance
http://en.wikipedia.org/wiki/Governance#Corporate_governance

12. Advisory Group On Corporate Governance, 2011, Corporate Governance In India “Current
Status And Recommendations”
http://rbidocs.rbi.org.in/rdocs/PublicationReport/Pdfs/20024.pdf

13. Audit Committee Institute, 2008, The State Of Corporate Governance In India
https://www.in.kpmg.com/SecureData/aci/Files/CG%20Survey%20Report.pdf

14. Mr. K.P Singh (Chairman DLF Ltd., 2009, CSR Initiatives http://www.dlf.in/dlf/wcm/connect/
dlf_common/DLF_SITE/HOME/TOP+LINK/CSR

15. Mr. V. Umakanth, 2009, CSR In India Some Theory
http://indiacorplaw.blogspot.com/2009/04/csr-in-india-some-theory-and-practice.html

16. Mr. Parimal Nathuan, 2006, Reliance Mangoes From Jamnagar http://parimalnathwani.com/
images/from-desk/ril/rel_mangoes.pdf

17. Mr. Buckminster Fuller, 2007, Portal: Sustainable Development http://en.wikipedia.org/wiki/
Portal:Sustainable_development/Selected_quote#Quotes_list

16

18. Mr. Dipankar Day, 2005, Energy And Sustainable Development In India
http://envfor.nic.in/divisions/ic/wssd/doc4/consul_book_persp.pdf

19. 2009, Indian Council For Sustainable Development
http://www.helio-international.org/reports/pdfs/India-EN.pdf

20. 2011, Forest And Development Debate
http://www.icsusdev.org/activities.htm

21. http://www.indiaenvironmentportal.org.in/taxonomy/term/9743

22. business environment seventh revised edition, 2007, author Francis Cherunilam

23. business ethics (concepts and cases) fifth edition, 2006, author :Manuel g. Velasquez

17

Complete paper arbaaz & suhail

More Related Content

What's hot

Viewers also liked

Similar to Complete paper arbaaz & suhail

More from Arbaaz khan

Recently uploaded

Complete paper arbaaz & suhail