FIIB SUSTAINABILITY SUMMIT

The summit started with Saraswati vandana. After that a video clip regarding views of students at FIIB about sustainability was shown. Ms. Radhika Srivastava, Executive Director, FIIB quoted, We facilitate our students to learn about and do sustainability projects and we are extremely proud of this. We have linked sustainability with our academics, operations and academics. We inspire sour students to give them back what they have taken from the society. Our late founder was connected with holistic development. The topic for the panel discussion was Implementing sustainability from Board room to shop floor started at 12 noon. The moderator in this panel was Prof. Vidya Iyer, Assistant professor, FIIB. The discussion started with our key note speaker for the summit, Anita M George, Regional Industry Director, Asia Infrastructure and Natural Resources, IFC. She acquainted the audience about IFC and said, Whether you are at home or doing business, think about sustainability. It is a must do for today and sustainability is part and parcel at IFC. We provide funds to those companies who are looking at aspects of sustainability and create opportunities for people to escape poverty and improve their lives. She discussed about many companies to whom IFC funds: 1. Attero: A recycling firm in India across the full spectrum doing e-waste management. 2 young engineers from IIT started this company. 2. Powerlinks: It is a joint venture which uses power transmission to carry hydropower to northern and eastern states of India. It created large number indirect and direct jobs, especially in the regions of West Bengal. 3. DSCL: It is major sugar company in India. They developed program for farmers to train them how to irrigate and give fertilizer to plants. After training the productivity increased to 19%. 4. SEWA: In this organisation 1.3 million self-employed are trying to improve the quality of life. IFC helps SEWA to provide energy efficient cook stoves and solar lanterns to its members in rural areas. IFC has linked them with commercial banks to provide credit facility. Members of SEWA themselves market their products. 5. Jain irrigation: IFC funds their business to modify global practices and adapt them to Indian conditions. 6. TATA: Tata is proactive in reducing waste and IFC is working with them. Discussing about the parameters on which IFC provides funds, The foremost criteria upon which IFC provides funds to organizations is how committed they are and how long term objectives they have. Second, IFC looks at how keen the organisation is in their business. Third, IFC looks at the project that how their project is going to develop IFC and how viable and eco-friendly the project is. Our first panel member was Dr. Annapurna Vancheswaran, Director, Sustainable Development, Outreach Divison, TERI. She threw light on how TERI is engrossed in sustainable practices. She said, Business cannot function in a failed society. She gave few

examples of organisations which failed due to unsustainable practices like Bhopal gas tragedy, Lehman brothers. She also quoted a famous quote of Frederick Speakman, The roads we take are more important than the goals we announce. With the help of example of FIFA she told, FIFAgot the sponsorship of 100,000 crores. BBC pulled out an activity across the supply chain that these footballs were stitched by the small tender hands. Now the balls are produced in Jalandhar (India), Siyalkot (Pakistan). We must bring the community to dialogue with sustainable practices. She also gave examples how TERI is involved with sustainability, like creating energy efficient sustainable practices. Our second panelist was Mr. Pranshu Singhal, Head sustainability, Nokia. His discussion was focussed on what Nokia does for sustainability issue and what we should do about it. He said that we should consume wiser and better and produce better and more with less. We should not concentrate on what other are doing, but what is your contribution. How to produce better lies in the supply chain. He gave examples of Nokia sustainability. He said, All Nokia device are free of PVC, mercury and numerous chemical substances which are harmful and it is not an easy change. We have 1800 collection points for used mobiles since 2009. Last year, we collected 70 tons of phones. The point is that we need to take bigger role in all the spheres. Nokia created Inspire fellowship programme, the first experiential programme in which it used creative arts and different sort of mediums- energy, water, transport and e-waste to promote sustainability. He added, What we people do? We just blame the government. According to National Geographic Channel- 83% of India is claimed to have environmental awareness. Our third panel member was Mr. Aveg Agarwal, Country Manager, FERSA. The organisation produces electricity from renewable sources. Most of their projects are in rural areas. He said, When we want to start a project we go and talk to the people close by about their benefits because they can have some issues regarding it. We never go without the permission of local inhabitants. We believe in social, cultural and economic diversity. Our norms for our employees safety are much more stringent that the Indian norms. It is the time for us to realise the importance of sustainability. Every company should be vigorous about it like it is for its financial report. Our fourth panel member was Mr. Santanu Roy, General manger (Corporate Planning), GAIL India Ltd. He discussed, We are into keen energy business and GAIL is one of the youngest Maharatna. We strictly do not believe in inefficiency. We deal with natural gas, the cleanest fuel possible from fossil fuel category. We used to get huge quantum of solid waste. GAIL has spent a lot of money to get methane to convert it into CNG. It has got the world attraction. About one and a half year back we came up with Aspiration 2020, the intention was to put strategies and sustainability together and make a focussed effort. We feel that we have a bigger role. We should take big risks. Possibly we can make difference.

The panel discussion was truly knowledge enhancing. We got the opportunity to perceive view point from different spectrum of business and imbibe sustainability from home to business!