The 12th edition of Frost & Sullivan and The Energy and Resources Institute (TERI)‘s Sustainability 4.0 Awards took place virtually on Jan. 12, 2022. The awards recognized companies embedding sustainability with economic value creation, thereby creating value for all stakeholders, building a safer environment, and ensuring a stronger community. This year’s awards were presented to 19 companies across six major categories: Sustainable Corporate of the Year Award, Sustainable Factory of the Year Award, Safety Excellence Award, Leaders Award, Challengers Award, and the Jury Special Mention Award.
Dr. Reddy’s Laboratories Limited, Hyderabad received the Sustainable Corporate of the Year Award, while Hindustan Unilever Ltd, Pondicherry HPC Factory took home the Sustainable Factory of the Year Award. The evening’s other big winner was Toyota Kirloskar Motor Pvt Ltd, Bidadi, which earned the Safety Excellence Award.
This year’s Jury Special Mention Award went to IIFL Home Finance Ltd, Gurgaon for its initiative “Kutumb,” Rehau Polymers Private Limited, Pune for its initiative “UPCYCLE95,” and Welspun India Limited, Mumbai for “30 MLD Sewage Treatment Plant to Recycle and Reuse Domestic Sewage.”
The Sustainability 4.0 Awards program highlights the need for linkages between an organization’s strategy, governance and financial performance and the social, environmental, and economic context within which it operates. This program enables businesses to make more logical and sustainable decisions that ensure long-term stakeholder value. It emphasizes the four pillars of sustainability: purpose, partnership, planet, and people.
Rahul Sharma, Director and Global Head, Manufacturing & Process Consulting Practice, Frost & Sullivan, said, “Frost & Sullivan and TERI’s Sustainability 4.0 Awards follow an assessment methodology which is market-proven and provides insights to the participating companies to improve upon their processes and systems from a sustainability standpoint. The insights are primarily in 4Ps (purpose, people, partnership and planet), sustainability analytics (interweaving sustainability and data & analytics), and renewable energy consumption index. The companies which fared well in all of these parameters came out winners, and I would like to congratulate the winners of the 2021 edition of this award program.”
Dr. Vibha Dhawan, Director General of TERI, said, “As India rebounds from the COVID-19 pandemic, we cannot afford to ignore the adverse impacts of climate change and the threat it poses towards the country’s future growth. Short-term profitability has to be nurtured together with the long-term sustainability for recovering from the pandemic today as well as to put us onto the path of a low-carbon future in a 2050 timeline.”
Dr. Dhawan added, “Businesses reflect the changing values and changing economics, which the world is currently witnessing, by focusing on resource efficiency and clean energy. As businesses carry out such initiatives, we need to make sure that others learn about them and the first-movers become the pioneers to inspire action by many. This fits with the ethos of our partnership with Frost & Sullivan. We aspire to have a larger number of companies in the country moving to structured sustainability programs.”
Ajay Shankar, Chairperson, Jury Special Mention Awards; Former Secretary, DIPP, Government of India; and Distinguished Fellow, TERI, said, “The Special Mention Awards and the process represent a fundamental transformation towards a truly sustainable economy and society, taking place across the world. The Jury Panel was impressed by the mindset that is emerging across the companies—the priority that the management is giving to going back to the basics, to rethinking how their enterprises must be run, to how they can make the transition speedily to a sustainable future. India is on the cusp of a major transformation towards sustainability. India being a developing country, the Indian industry has the possibility of using the late-mover advantage to leapfrog to the global frontiers as leaders in the transition to sustainability.”