Adapting to changing international business benchmarks is the need of the hour, says expert
Going green makes business sense, it helps shore up the triple bottom line — people, planet, and profits, N. Muthusezhiyan of CII-Sohrabji Godrej Green Business Centre has said. Addressing a one-day workshop on CII Green Company Rating System — GreenCo — here on Tuesday, he said companies have to quickly adapt themselves to the changing international business benchmarks.
“Internationally, companies are also looking at the green rating of the suppliers as a standard procedure. It is not enough to be energy efficient and or sequestering carbon credits, the companies have to follow a comprehensive system that includes product stewardship, life cycle assessment, among others. Soon, the companies will have to follow the benchmark as the government is likely to pass a law making it mandatory soon,” he explained.
The GreenCo provides a holistic framework to evaluate the ecological performance of a company. It aims at providing leadership and guidance to businesses on how to implement green strategies. The rating system evaluates green features of companies based on parameters that include energy efficiency, water conservation, renewable energy, greenhouse gas emission, waste management, material conservation, recycling and recyclability, green supply chain, product stewardship, life cycle assessment, and others such as ventilation, surroundings, site location, and innovation.
Underscoring the importance of commitment of the management in adopting green standards in the business, the rating gives 30 per cent weight to management commitment and 70 per cent to the results and impact. “Green is the new business driver,” chairman of CII Visakhaptnam zone G. Sambasiva Rao said, calling upon the businesses to adopt environmentally friendly technologies. CII deputy director K. Ganesan and engineer from CII- Green Building Centre Harshita Soni were present at a largely attended workshop.