ICC hosts India Corporate Governance & Sustainability Vision Summit

Corporate Governance and economic development are intrinsically linked. Effective corporate governance systems promote the development of strong financial systems-irrespective of whether they are largely bank-based or market-based –which, in turn, have an unmistakably positive effect on economic growth and poverty reduction. Corporate governance is a means whereby society can be sure that large corporations are well-run institutions to which investors and lenders can confidently commit their funds.

Further, to recognize and honor the enormous Endeavour towards creating a Sustainable development model for the society at large, ICC conferred the ICC Sustainability Vision Awards to various Indian businesses. It bestowed to those organizations who demonstrate excellent performance in the area of Sustainable Development and definitely nurture innovation.

The initiative is exclusively covered by ET NOW and Ernst & Young has joined hands with ICC as the Knowledge Partner.

The ICC Corporate Governance & Sustainability Vision Awards acknowledge and reward companies that have taken positive steps to manage and measure their economic, environmental and social impacts and performance, and have integrated sustainability into their core business models. In turn these awards provide a platform to highlight leading examples of sustainable practices and performance to inspire and motivate others to adopt similar policies and practices and transparently communicate on their performance.

Key speakers in the forum were Arun Maira, Former Member, planning Commission, Government of India, Kirit S Parikh, Former member, Planning Commission, Anil Razdan, Former Power Secretary, Government of India and Jitendra K Das, Director, FORE School of Management.

Anil Razdan, Jury Member, Awards & Chairman, ICC National Expert Committee on Energy  set the session rolling emphasizing on the need of Transparency of Government activities and corporate affairs. Mr. Arun Maira-Former member, Planning Commission emphasized on the ethical problem that needs to be solved, whether to serve the organizational needs or the work in the interest of the society & environment. He proposed the need to inculcate the Trust, wherein people should be able to questions on the business doers.

Kirit S Parikh, Jury Chair, awards & former member Planning Commission explained the importance of awards which helps consumers to select the better products & companies that are friendly to environment.

The Corporate Governance & Sustainability Vision Awards 2015 had four categories. In the Sustainability Performance Award section, Shree Cement Ltd bagged the first prize. While GAIL India Ltd, won the first prize for Sustainability Reporting Award. The Water Stewardship Award was taken by ITC Ltd and Corporate Governance Award was given to BPCL in Category one and WAPCOS in Category two.