Industries must come forward to conserve the Environment & to ensure long-term Business Sustainability

No.PR-228 August 26, 2020 New Delhi Industries must come forward to conserve the Environment & to ensure long-term Business Sustainability Due to the lockdown, CO2 emissions are predicted to all fall down around 8% in 2020, mentioned Dr. Sujit Kumar Bajpayee, Joint Secretary, Ministry of Environment, Forest and Climate Change, Govt. of India in the session organized by PHD Chamber of Commerce and Industry on 'Paradigm Shift in Business Sustainability – Strategies to Meet the Challenges in the Post COVID-19 scenario'. Dr. Sujit Kumar Bajpayee in his deliberation mentioned that while the pandemic has given a lot of challenges but it has given the opportunity to jump-start the economies, rebuild societies through recovery plans and focus on climate change and environment conservation. For sustainable business, one must define the corporate purpose, articulate value for all stakeholders, and accept that profit is the consequence of such value creation. Then we need to define concrete sustainability goals by answering questions like the company’s growth, new trends, empower stakeholders, and establish collaboration, said Dr. Bajpayee. Talking about the importance of environment and conservation of natural resources, he talked about the importance of bio-diversity that is the foundation of life on earth and gives a connection to human lives and allows us to grow while catering to our basic, cultural and spiritual needs. We need to realize that our life and livelihood revolves around nature and the environment. He mentioned that nature is also an essential source of many medicines and, industries like constructions, agriculture, and food, and beverages are highly dependent on nature. Such industries require direct extractions of resources from the forest or rely on ecosystem services such as healthy soil, clean water, and a stable climate. Due to many reasons, we are losing on species and, many have gone extinct that has disrupted the eco-system. The impact of this pandemic is so complex that it will be continued to be analyzed for years. We need to manage our ecology in the right manner; help nature to help ourselves and conserve the bio-diversity to sustain nature to stabilize the earth, said Dr. Bajpayee. Dr. Bajpayee threw light on the impact of Covid-19 that has molded our ways of sustaining business and, there is a need to recover business from this pandemic. The key to long term business sustainability is the need to take care of our workers, employees, nature, and environment. Covid-19 has forced individuals, institutions, and society to rethink the way we have conducted so far, and our decision making at home, work, and society. Climate change and a pandemic are related to anthropogenic activities. Due to the pandemic, many businesses need to change their models of sustainability and need to understand that we all need to take ownership of the future, said Dr. Bajpayee. Dr. D K Aggarwal, President, PHD Chamber of Commerce and Industry while presenting a memento to Dr. Sujit Kumar Bajpayee deliberated about the silver lining of the pandemic that was the improvement in the quality of air and water. We could see the goodness of nature due to the lockdown and, we can see that nature had taken its course of stabilizing the things. Talking about business sustainability, he mentioned in today’s times, it's driven toward the contribution to the environment and society. The environment is pivotal, we owe our duty and responsibility towards it to ensure that we do not pollute or damage it. In these times, many companies are investing their fund in Environmental, Social, and Corporate Governance (ESG) companies. We need to give back to the planet, people, and profit to sustain the environment. There is a change in business models and technology is driving factors for running the business. It’s time to change the business models which look at the environment and contributes to Self-Reliant India, said Dr. Aggarwal. Dr. J P Gupta, Chair, Environment Committee, PHD Chamber of Commerce and Industry while introducing Dr. Sujit Kumar Bajpayee mentioned environment is a key driving factor for running the industry and there is a need to run the industry with the consideration towards the environment for sustainability and growth. Mr. Saurabh Sanyal, Secretary-General, PHD Chamber of Commerce, and Industry delivered a formal vote of thanks to all the delegates and participants and, assured that PHD Chamber of Commerce and Industry will stand in full solidarity with the government and environment to grow an eco-friendly self-reliant country. The session was moderated by Dr. Ranjeet Mehta, Principal Director, PHD Chamber of Commerce and Industry, and witnessed the presence of Dr. R K Somany, Former President, PHD Chamber, and other industry stalwarts pan-India. Ends Media Division PHD Chamber of Commerce and Industry