The Conversation N.R. NARAYANA MURTHY

Sustainable practices can coexist with a company’s pursuit of profit, says the Infosys co-founder and Catamaran Ventures founder. The 74-year-old, known for his philanthropy, points out that shared values can not only create great companies but can also spawn a sustainable and just society.

- V KESHAVDEV

THE SUSTAINABILITY DEBATE

Is there a blurring of lines between sustainability, CSR (corporate social responsibility), and philanthropy within India Inc.? Do we need another law on sustainability?

Sustainability is based on the fundamental principle that we have to preserve the only habitable place in the solar system for our children and grandchildren. For me sustainability does not end [with] tackling just the climate change issue, it transcends that; it is about ensuring that our planet, our nation, our citizens, our corporations, and the stakeholders of our corporations advance and lead a better quality of life in a harmonious and sustainable way.

Coming to CSR, the most important stakeholder of a corporation is society as it contributes to employees, customers, investors, vendor-partners, bureaucrats, and politicians. Therefore, earning the goodwill of society is an absolute necessity to ensure the longevity of a corporation. CSR rests on a fundamental principle articulated by the late U.S. President John F. Kennedy that “a society that cannot help the many who are poor, it cannot save the few who are rich”. Therefore, in some sense, CSR is a self-preservation exercise for the rich, the powerful, and the elite in any society.