Chairman's 2017 Sustainability Vision
"By 2017, Aditya Birla Group endeavours to become the leading Indian conglomerate for sustainable business practices across its global operations, balancing its economic growth with environmental and societal interests."
- KM BirlaCEO's Commitment to Sustainability
In line with the Chairman's vision, ABFSG is committed to operate in a manner that is long term and sustainable not only from an economic standpoint but also from an environmental and social perspective. Balancing the country's rapid growth needs with sustainable development is a unique challenge and we aim to address these issues in a manner tailored to the Indian context.
– Ajay SrinivasanChief Compliance & Risk Officer's Statement
Sustainability at Aditya Birla Financial Services is part of the group risk function on the premise that Environmental & Social factors are material to the financial sector from a Risk perspective. Having embarked on this journey in 2015, we are still learning the ropes in terms of incorporating sustainability factors in our lending and investment decisions. The challenges are enormous since Sustainable Finance as a subject is still a relatively untrodden path in India and benefits are slow to materialize. Having said that, we have undertaken various internal and external sustainability efforts (as mentioned in the following sections) and aim to steadily fulfill our Chairman's vision to be a sustainability leader in our sector.
– A. DhananjayaChief Sustainability Officer's Statement
The Group Sustainability Cell has the goal of supporting and facilitating the achievement of the Chairman's Sustainability Vision. Our priority is to follow the three steps of the ABG Sustainability model to help us adjust our performance to meet the ever tightening demands of a sustainable planet and society.
The first step "Responsible Stewardship" focusses on how we manage today and our goal is to building a framework of policies, technical and management standards aligned to international standards as defined by the IFC, OECD, UNGC ISO and OSHAS. By introducing these standards into our systems we will manage our operations in the most responsible manner.
The second step defined by the model is to understand the external changes that will inevitably impact our companies in the future and this step of the model is called "Stakeholder Engagement". Our goal is to build strong relationships with our stakeholders and key technical experts on climate change, water and waste management, developments in human rights legislation, safety standards, health impacts and the like. By doing so we expect to learn what are the trends that will most likely affect our businesses in the future and how are they likely to change.
The third step we will take is, "Future Proofing", here we will embed sustainability trends into our strategic business plans to minimise the risks and find new opportunities that will be presented by the requirements of a sustainable planet and society by 2030 and 2050 and make our businesses sustainable.
All our business leaders are involved in the challenge to meet the Group's vision and a lot of progress has already been made. Each business has created a road map to 2017 by which time we hope to be able to demonstrate that we have reached international standards of performance and have a robust plan for 2030 and beyond.
– Tony Henshaw