‘Green' Reality Bites

Though ‘going green’ is the current buzzword, two experts in the domain, Niranjan Khatri, founder, iSambhav, and M Selvarasu, MD of LEAD Consultancy & Engineering Services (India), give us a reality check into the current situation

Why is sustainability becoming an important component of your strategic planning for companies? 

Niranjan Khatri: There is enough evidence of ecological collapse and climate change and its consequent impact on several sectors such as fisheries, farming, dwindling water resources, the annihilation of 25 species per day due to rampant deforestation and unfettered consumption of resources. This is happening at the scale of 60 billion tonnes per annum for seven billion people. The key driver for change in adopting sustainable practices is primarily because of regulatory pressure – both national and international – through groups, civil society and, at times, individuals.

Forward-looking organisations have adopted strategies that go beyond compliance. This has led to reduced unnoticed wastage or eliminated uses of certain resources, resulting in a cost advantage. More importantly, they are taking a leadership role and endearing the company to its customers, employees and other stakeholders.

M Selvararu: Sustainable development is defined as “meeting the needs of the present generation without compromising the ability of future generations to meet their needs” (Brundtland et al. 1987, 43). By adjusting this definition to the corporate world, Dyllick and Hockerts (2002) define corporate sustainability as the ability to meet the firm’s needs as well as the needs of direct and indirect stakeholders, both present and future.