Reliance Industries, Tata Motors among top 10 sustainable firms: Sustainable Plus Survey
Ten companies, including Mahindra & Mahindra, Tata Motors, Hindustan Zinc, Vedanta, were classified as Sustainable Plus Platinum, showing the highest levels of adherence to sustainable business practices.
The Sustainable Plus survey on 14 March 2016 revealed that RIL, Vedanta, Mahindra & Mahindra, Tata Motors and Wipro are among the top 10 companies, which have received the tag of India's most sustainable firms. These companies were followed by ITC, Tata Power, Tata Chemicals, Hindustan Zinc and ACC.
The survey conducted by CII-ITC Centre of Excellence for Sustainable Development also revealed that the banking sector benefited from the high scores of HDFC and Axis banks. On the other hand, scores of Tech Mahindra and Wipro gave a boost to performance of software and services sector.
However, out of 100 firms profiled belonging to 20 sectors, only 18 companies responded to the Information Request (IR), while two companies partially responded. The remaining companies either did not respond to the IR or declined to participate.
Key highlights of the survey
• Ten companies, including Mahindra & Mahindra, Tata Motors, Hindustan Zinc, Vedanta, ACC and Reliance Industries, were classified as Sustainable Plus Platinum. These companies showed the highest levels of adherence to sustainable business practices.
• Seven companies, including Bajaj Auto, Ambuja Cements, Hindustan Unilever and Tata Steel, received a Sustainable Plus Gold classification.
• The remaining 83 companies got Sustainable Plus Bronze.
• Social governance was the next highest scorer due to the adoption of occupation health & safety management systems and dedicated Corporate Social Responsibility norms.
• The environment dimension had the lowest overall performance scores.
About Sustainable Plus
• The Sustainable Plus survey looks at the 100 largest companies by market capitalisation across 20 sectors in the country.
• It is aimed at checking the environment, social and governance dimensions of business and measures the progress of Indian companies in adopting sustainable business practices.
• Sustainable Plus rates the companies across three levels, which are platinum, gold and bronze.
• The label is accorded to companies based on their responses.
• They are graded on parameters like governance and social and environmental initiatives.
• Companies that receive the Sustainable Plus Platinum are India's most sustainable firms.
Now get latest Current Affairs on mobile, Download # 1 Current Affairs App