As we enter a new decade, the term ‘sustainability’, with all its conflicting interests, pressures and demands, remains a challenge for us all, and one that is likely to grow in importance and impact.
The term ‘sustainability’ can mean different things to different people, depending on their interests and perspective. That is why, we at JSW have decided to define sustainability in our own terms, drawing of course on widely accepted definitions so that we can be clear both internally and externally as to exactly what our Vision is within this demanding arena.
The challenges of sustainability are affecting businesses like ourselves in a varied number of ways:
- We are seeing increased volatility in the price and availability of the key resources our business requires, such as water, energy and raw materials;
- Our stakeholders, including consumers, customers, and shareholders, are paying more attention to sustainability;
- Government agendas are increasingly focused on sustainability, and those agendas are being pursued through regulatory change;
- Investors have started scrutinizing the companies on the basis of sustainability, using it as a means of evaluating companies before making decisions as to whether to invest;
It is our Vision here at JSW that we are able to, both now and in the future, demonstrably contribute in a socially, ethically and environmentally-responsible way to the development of a society where the needs of all are met. And, in a manner that does not compromise the ability of those that come after us, to meet the needs of their own, future generations.”
Mr.Prabodha Acharya, Group Chief Sustainability Officer
And ultimately these effects will determine the future of businesses, with those that respond quickly and aggressively not only surviving but thriving, while those that are slow and passive in their response finding themselves struggling to prosper.
For many years now, we at JSW have fully recognised the growing pressures that the issue of sustainability has been exerting upon us. And, we have responded in a wide variety of ways such as choosing the right technology for our operations that would use resources efficiently, minimising the impact on people, environment and society, and following applicable national and international practices for business ethics.
We have also looked inwardly at our aims, policies, structures and processes; and from that inward appraisal, we have concluded to make some changes. What we have come to recognise is that the scale of the sustainability challenge that we face now, and the likelihood of its inevitable growth in the years and decades ahead, means that we now need a bolder approach that places sustainability even more firmly at the heart of our business. To this end, and in addition to the development of our Sustainability Vision, we have created a series of policies that outline, clearly and succinctly, our aims and objectives in relation to the many and varied sustainability issues our business faces; and to create a Sustainability Framework, a detailed management structure that will stretch right across our business and will provide the foundations on which our policies’ aims and objectives will be realised.
Finally, we are engaging with and involving all our employees across all our sites through sharing, training, educating and equipping. Why? Because the fulfilment of policies, the achievement of aims, and the successful implementation of our Framework, rely most of all on harnessing the passion and enthusiasm of every individual within the JSW Group.