Finance Minister presents TERI Corporate Awards for Environmental Excellence and CSR initiatives

PRLog (Press Release) – May 27, 2007 – The Hon’ble Finance Minister of India, Mr. P Chidambaram, today felicitated 10 Indian corporates - chosen from amongst over 120 applications received this year – for Environmental Excellence and Corporate Social Responsibility in the sector. The TERI Corporate Awards ceremony, an annual event on the corporate calendar since 2001, also saw Dr R K Pachauri, Director-General, TERI and Chairman IPCC, Mr. Harman Mulder, Advisor to the UN Global Compact and WBCSD and Former Chief Justice JS Verma share the dais.

An 11-member jury, chaired by Justice J S Verma, also Former Chairperson NHRC, selected the winners after an intense screening process. The evaluation and grading process is carried out at three levels: First, a team of members at TERI assesses the applications. At the second stage of evaluation, a group of external advisors with expertise in different fields reviews the case studies and finally, the jury recommends the case studies selecting the best three in each category. This year, more than 120 corporates applied for the prestigious award.

At the ceremony today, the Finance Minister also released two TERI publications, ‘Citizens at Work’ and ‘Cleaner is Cheaper’ each of which deals with exemplary case studies of sound environment management and social practices by organizations in India.

In his brief address, Mr. Chidambaram said that the corporate sector is emerging as a critical player in India's development process. Given this expanding role, the corporates have to live up to new expectations from society, one of which relates to the impact of the corporate sector's activities on the environment and CSR initiatives, hence in a rapidly globalizing environment, their contribution to the development of society becomes increasingly pertinent. He said that these CSR and Environmental activities are a road to greater profitability and would create within the organizations a productive workforce sensitive and proactive towards changes.

Complimenting TERI for holding the awards annually, recognizing innovative practices, programmes, and projects that promote sustainable development, the Finance Minister said that he was very hopeful of TERI’s blueprint that is to be presented to the Government addressing the anthropogenic factors causing climate change and measures to tackle it.  He also urged the corporate world to come out and address AIDS, health, environment and CSR issues, which are on a state of denial even in this new-age world.

Dr RK Pachauri, Director General, TERI, in his address urged the Corporates, the Government and the common man to follow the pattern of development for the endowment of natural resources.  He said that he was happy to see business and the environment, traditionally seen as divergent issues, steadily coming closer on sustainable development and environmental issues, though driven by the rising scale and intensity of environmental pressures and society’s changing expectations from the corporate sector. He said that it is only this convergence of business and concerns about sustainable development that has led to changes in industry’s response to environmental pressures.

Mr. Harman Mulder in his address said it is an opportunity for business houses to showcase their leadership, commitment and trust in the business community to make a meaningful change. Business houses need to create a balance between profits and values and business in society should be a part of a larger solution to make markets work and development sustainable.

Justice Verma, alarmed the business community of the clear and present danger ahead mentioned in the IPCC reports and urged corporates to act promptly for the cause of environmental protection, adding that they need not to do a different business but need to do their business differently.

Media contact:

Rajiv Chhibber - Phone: 2468 2100 Fax: 2468 2144, Mob – 9810426698 / rajivc@teri.res.in