SPEECH BY HON'BLE PRESIDENT OF INDIA, SHRIMATI PRATIBHA DEVISINGH PATIL, AT THE PRESENTATION OF THE 8TH TERI CORPORATE AWARDS

New Delhi, 5th June, 2009

Ladies and Gentlemen,

At the outset I would like to congratulate all those who have been conferred the TERI Corporate Awards. I would also like to compliment TERI for instituting these awards with a view to encouraging companies to adopt socially responsible practices and work in an environmentally friendly manner as they conduct their business.

It would not be wrong to say that a few decades ago environment was, "off the radar screen", and it was not often that it was discussed. In fact, those who spoke about it were considered to be people who were unnecessarily raising a hue and cry. However, over a period of time concerns grew. It was in the wake of these concerns that the United Nations Conference on Human Environment was held in Stockholm in 1972. At this Conference, our then Prime Minister Shrimati Indira Gandhi emphasized the utmost priority of economic development for developing countries. She highlighted the link between environmental degradation and poverty. It was in this context that she said, "We do not wish to impoverish the environment any further and yet we cannot for a moment forget the grim poverty of large numbers of people." The concept of sustainable development that emerged out of these discussions was acknowledged to have three inter-linked pillars of economic growth, social development and environmental protection. Today, sustainable development constitutes one of the core issues of the global agenda and is of increasing importance.

For developing countries, undoubtedly, economic growth is clearly a pre-requisite for improving the standards of living of their people. Equally important is the need for equitable growth and social development. If large sections of society are left outside the purview of growth, then the development process itself cannot be sustainable in the long run. As we pursue paths of growth, we recognize that there is a need to adopt less polluting growth models so that the carbon footprints can be reduced. Achieving all these for developing countries would require the support of the international community. Availability of environment friendly technologies should be pursued as a global public good in which a developed-developing countries partnership can contribute greatly.

The world is today celebrating the World Environment Day. It is an occasion for Governments and concerned citizens to recommit themselves to work towards motivating every member of society to become an active agent of sustainable and equitable development and to promote awareness about the environment. This day also reminds us that the resources of the planet must be managed prudently, which is necessary for our survival and the future of humanity. Our planet belongs to all of us, and to sustain it as well as to preserve it for future generations, requires action by all of us.

Nature has been generous to us. It has in its bounty provided air for breathing, soil and water for agriculture, mines and minerals for industries. Mountains, deserts, valleys, rivers, oceans and forests all are important ecosystems that support diverse life forms. For example, forests host a wide range of fauna and flora, providing us a wide range of products and also giving green coverage. We should teach our children to conserve trees and forests for our own good. Nobel Laureate Wangiri Maathai described the importance of trees for mankind in words, "when we plant trees, we plant the seeds of peace and seeds of hope". Resources of the planet need to be conserved and, wherever possible replenished. Just as we need the planet, the planet also needs us to respect it. Every one has to understand their duty and responsibility towards making this world a better place to live.

The role of enterprises has been increasing in a globalized world; resultantly the expectations from them are also on the rise. The recent global crisis has demonstrated the compelling need for corporate institutions to adhere to high standards of business practices if they are to have the confidence of consumers and to operate successfully. Voices demanding accountability of companies and financial institutions are increasing. For this, companies must adopt business strategies that adhere to principles of corporate responsibility towards stakeholders and towards society. Approaches that are sustainable and address the three pillars of sustainable development that I had mentioned earlier - economic growth, social development and environmental protection - should be followed. Stock market evaluations are a good measure of the growth of a company, but building a goodwill reserve through socially and environmentally responsible practices make businesses more productive and durable in the long run.

Business corporations draw on societal resources and an enlightened approach requires them to engage constructively in contributing to the broader social and environment agenda. If there is economic growth, business prospers. Contributing to the welfare of communities will build stable social structures and this makes it congenial for conducting business. Business has to do its bit to ensure the success of society, if business itself wants to succeed. Similarly, if the environment is clean and pollution is less, the health of the workers is better and their productivity enhances. Thus, incorporating social and environment angles into their working system makes business sense as well.

Following this path does not require the invention of management methods, but rather a new orientation. There have been many examples of how companies have successfully adopted socially responsible practices. Some of you have won awards today. You can be partners for implementing national environment protection programmes. Just as an example, if businesses located along rivers were to adopt proper waste management practices, our mission for clean rivers will receive a big boost.

I would also like corporate leaders gathered here today to focus on research and technology. Innovation and technology to me are crucial enablers of sustainable outcomes. Infact, in a knowledge society, it is the research base that determines its intrinsic strength.

Finally, I would like to once again congratulate all the winners today as well as all those who have made some contribution to shoulder their responsibility towards society. Such awards, I am confident, will encourage and strengthen Corporate Social Responsibility and the green movement in Indian Industry. I would also like to convey my good wishes to TERI, which is a pioneering institution in our country in the field of sustainable development and environment. Under the guidance and leadership of Dr. R.K. Pachauri, I am sure that TERI will continue with its endeavours to reach out to diverse stakeholders for realizing a shared vision of global sustainable development and creating innovative solutions for a better tomorrow.

Thank you.

Jai Hind