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Corporate Initiatives for Sustainable Development: Some Case Studies and the Task Ahead
Sustainable development aims at environmental protection, social well-being and economic development. Over the years, corporate houses have realized that it is in the interest of business to operate within a healthy environment and economy and that sustainable development must be incorporated into the vision, mission and policies of business.
This paper highlights the initiatives taken by leading corporate houses for sustainable development. These corporate include Apple, Cipla, McDonald, Philips, HUL, Reliance, Tata Group, Panasonic, ICICI Foundation and Bajaj Group. The study reveals that environmental excellence has become a part of corporate strategic thinking. However, in spite of all the initiatives with respect to sustainable development, the picture is dismal and shocking, not only in India, but world over. The three goals of sustainable remain unachieved to a significant extent.
It is reported that 40% deaths globally can be attributed to air, water and soil pollution. 925 million people are under nourished. 30 trillion kg carbon dioxide- equivalent greenhouses gases is released into the atmosphere. Further, rural-urban inequality is increasing while 15% of the world’s population goes to bed hungry.
The author suggests the need for adopting a holistic approach towards sustainable development and the relevance of Mahatma Gandhi’s Universal Trusteeship concept. The culture and mission of the business enterprise must be aligned together. A sense of mission and social goal for the organization needs to be developed. The paper suggests a model which takes into account the economic, technological, social, environmental, value-based society, learning and adaptability aspects of sustainable development which rests on the belief that sustainable development is a pervasive philosophy to which every participant in the global economy (industry, community, government, NGO’s etc.) must subscribe.
Keywords: sustainable development, culture, global, environment