“Sustainability”

By giving back to society in every way possible, one builds synergies with the core business, leading to a sustainable effort. Many business believe true sustainability is ensured by means of positive impact of business practices. For the year 2009 Sustainability was the buzzword and since this word was never defined within the room space of water tight compartments, a lot was left under speculation, and probably that is the captivating part. It is a brand new bottle for a very very old wine “Corporate Social Responsibility”. And about recognising that an optimistic and progressive environment not only enhances productivity, but also promotes a feeling of well being, all around. Initiatives in Corporate Social Responsibility are an integral part of the business activities and not outside them, AND that is what the message should have been. And that is WHAT, they never understood. The new fashion included everybody going green, printing monumental reports on environmental issues with green fields and blossom, the companies made a huge cry about it and appointed officials to take care of the whole affair. And that’s that. Period.

However, VERY RECENTLY the new found word has taken a very novel approach in the balance sheet. SUSTAINING THE BUSINESS. After all it still has the word “sustain”. As recession continues its fatalities, marring the upward arrows of most companies, there is going to be a sudden spurt of many of them kicking the bucket. To sustain profits, companies will slash costs and cut jobs, while consumers will be even less prepared to pay extra for organic food or air-travel offsets. The fudging momentum that had been acquired, is going to be lost and the emphasis will again be on creating “worth and value” for the consumer. The easy bets in the entire sustainability debate in favour of going the sustainable way and saving energy will be less convincing, even with low oil prices.

However the government seems to be thinking the sustainable way. With the union budget devoting quite a figure towards the idea, is the only sign of respite. Schemes on riverbank protection, funding the research for clean energy, and the allocation almost doubling for other river basin activities, is definitely a step towards doing it the right way.