Frost & Sullivan and TERI to Honor Sustainable Development Practices across Industries at the 2020 Edition of the Sustainability 4.0 Awards
Companies interested in participating in this edition of the awards need to submit their nominations on or before , by clicking here. https://ww3.frost.com/event/calendar/sustainability-40-awards
Today, businesses are dealing with a complex and unprecedented blend of Environmental, Social and Governance (ESG) risks. Through this initiative, Frost & Sullivan and TERI aim to highlight the need for linkages between an organization’s strategy, governance, and financial performance, along with the social, environmental and economic context within which it operates.
Talking about companies moving towards a structured sustainability agenda, Raghavendra Rao, Associate Partner & Sr. Vice President, Frost & Sullivan, said, “Sustainability is no longer a ‘good to have’ aspect in business, instead is an essential tool for long term value creation for stakeholders. It has evolved as the most discussed boardroom agenda amongst Corporates. Investors globally have been reviewing companies’ sustainability performances for making responsible investments. By launching the eleventh edition of Sustainability 4.0 Awards, we intend to widen the spectrum by having numerous companies driving the common agenda of making businesses more sustainable. Our partnership with TERI has provided the right impetus to this commitment as we continue to leverage this partnership for increased adoption of sustainability practices in business.”
Speaking about its association with Frost & Sullivan over the years, Dr. Ajay Mathur, Director General, TERI, said, “Success breeds more success and nothing amplifies successful behavior more than recognition in a framework of aspiration. We at TERI are proud to partner with Frost & Sullivan in this initiative to recognize best practices in sustainability. The Sustainability 4.0 Awards reflect our common commitment to provide a measurable and verifiable framework for sustainability and to honor the efforts of businesses to meet and to better these benchmarks. We look forward to having you with us on this journey, which would lead to a better future for all of us.”
The awards program has three levels of recognition – ‘Believers’, ‘Challengers’ and ‘Leaders’ with respective, predefined qualifying scores. The top two highest-scoring companies (overall) will be recognized with ‘Sustainable Business of the Year’ and ‘Sustainable Business of the Year - 1st Runner-up’ awards, respectively. The ‘Jury Special Mention Award’ will be conferred for a program/initiative that has resulted in environmental protection, social well-being and/or economic prosperity within an organization’s operations and the community.
The Renewable Energy (RE) Consumption Index developed by TERI aims to recognize the transition to RE by the industry while aligning with India’s commitments under the Paris Agreement. It will capture a site’s direct energy consumption in its operations and allied processes within the value chain. This Index will be offered to the applicants in this year’s edition of the Sustainability 4.0 Awards.
The assessment framework for ‘Sustainability 4.0 Awards’, has four major parameters (Purpose, Planet, People, and Partnership) and 13 sub-parameters. The evaluation framework is regularly updated taking into consideration global sustainability frameworks, future sustainability challenges, and reporting requirements. Each participant is evaluated and benchmarked against peers and competitors by a team of experts from Frost & Sullivan and TERI. The application for these awards is open to companies across Manufacturing, Logistics, Hotels, IT & ITES, KPO, BPO, Banking, Financial Services & Insurance, Construction, Telecommunications and Healthcare sectors in India and the Middle East.
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The Energy and Resources Institute (TERI) is a leading think tank dedicated to conducting research for sustainable development of India and the Global South. TERI was established in 1974 as an information center on energy issues. However, over the following decades, it made a mark as a research institute, whose policy and technology solutions transformed people’s lives and the environment. TERI’s key focus lies in promoting clean energy, water management, pollution management, sustainable agriculture, and climate resilience. TERI’s Council for Business Sustainability connects its research work with the corporate sector. The Council guides the Indian corporates to frame and implement their sustainability agenda.