India’s No.1 Corporate Social Responsibility Magazine since 2013 | RNI No. DELENG/2013/49640



Building Sustainable Organizations: Balancing Profitability and Environmental Responsibility

Dr. K K Upadhyay
Professor and Chairperson Centre for Sustainability & CSR,  Birla Institute of Management Technology (BIMTECH)

Sudden weather changes, pollution around, floods, disasters—what’s happening to my world? It was better when I started. I understand everyone is created equal, which is undermined by the reality of growing inequalities, with the gap between rich and poor becoming larger and more intolerable. 

I desire to do better—to preserve and accentuate all the wonderful features of life on Earth and make those features available to all, now and in the future, while minimizing any damage to our society and the natural world. That desire has a name: sustainability. And it was realized long back in “OUR COMMON FUTURE” in the Brundtland Report in 1987 in response to the conflict between globalized economic growth and accelerating ecological degradation by redefining “economic development” in terms of “sustainable development.”. 

It is credited with crafting the most prevalent definition of sustainability “Sustainable development is development that meets the needs of the present without compromising the ability of future generations to meet their own needs.” It was realized that companies take their resources from society to run their businesses successfully. Therefore, they have a moral and ethical duty to give back something to society beyond their commitments to shareholders.

Climate change is one of the most important global concerns confronting humanity today. Companies are investing in research to better understand how human, cultural, political, and corporate behaviors can contribute to or alleviate the effects of climate change, creating knowledge to promote future sustainable and equitable societies, structures, and systems. 

The Sustainable Development Goals (SDGs), adopted on September 25, 2015, by the United Nations General Assembly and intended to be achieved by the year 2030, are a blueprint to achieve a better and more sustainable future for all. India, home to one-sixth of all humanity, holds the key to the success of the 2030 Agenda. 

SDG Goal 13 aims to “take urgent action to combat climate change and its impact” while acknowledging that the United Nations Framework Convention on Climate Change is the primary international, intergovernmental forum for negotiating the global response to climate change. India has made a paradigm shift to a whole-of-society approach called “SABKA SAATH SABKA VIKAAS” (Collective Efforts for Inclusive Growth).

The financial year 2022–23, as per the latest amendments in the Companies Act 2013, requires the top 1000 listed companies to provide an overview of the Environmental, Social, and Governance (ESG) approach to mitigate or adapt to climate risk, along with the financial implications of the same. It requires the companies to remain conscious of and concerned about the effects of their operations on climate change. 

Any act of the company which is in the financial interests of the company but is detrimental to the environment may be against the letter and spirit of the law and the directors and officers may be held accountable and levied a penalty.

Sustainable organizations must address climate change involving all stakeholders. The climate challenges have taught us that we can’t survive alone; it’s an interdependent world, and we can find a solution only when we walk together. All the stakeholder’s governments, corporations, civil societies, and communities have to work in perfect harmony. This is a journey for the good of everyone; the world needs us all to behave responsibly. Let’s ‘walk the talk’ and do our part of sustainability responsibly.


Disclaimer: The opinions expressed in this section and articles contributed are those of the respective authors, who have submitted it as their original work. They do not reflect the opinions or views of CSR Times, or its employees, management and group publications. The accuracy and reliability of information presented has not been verified by CSR Times. CSR Times will not be held responsible in any way for the content of this article.






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