Frost & Sullivan and The Energy and Resources Institute (TERI) will jointly host the 12th edition of ‘Sustainability 4.0 Awards’, virtually on August 20, 2021, to recognize the efforts of companies in India that have successfully integrated sustainability into their business and investment decisions. The awards aim to recognize organizations that have been able to fast-track their sustainability strategies even during the pandemic and strive for excellence in sustainable development.
Companies interested in participating in this edition of the awards can submit their nominations on or before March 31st, 2021.
Sarwant Singh, Managing Partner and Regional Leader for Middle East and South Asia at Frost & Sullivan, hopes that the awards will encourage more companies to embrace a structured sustainability program. “As digitalization and sustainability merge into two of the most powerful market influencers in today’s corporate landscape, the Sustainability 4.0 awards program will evaluate how organizations are interweaving their digitalization initiatives with the sustainability strategies, and provide them with a better understanding of what they need to do to be future-ready,” he said.
“Sustainability is an essential tool for long-term value creation for stakeholders. Our partnership with TERI has provided the right impetus to this commitment as we continue to leverage this partnership for increased adoption of sustainability practices in business,” he added.
Speaking about the impact of COVID-19 on sustainability, Dr. Ajay Mathur, Director General at TERI, said, “What we have seen is that companies that are sustainable also create more value because they use fewer resources, minimize waste, and consequently overall, they are better corporate citizens. As we move ahead, we are looking at companies that are pushing their profits and minimizing their waste management, we are looking at companies that use sustainability as a tool to enhance their performance.”
Sustainability 4.0 Awards emphasizes the four pillars of sustainability – Purpose, Partnership, Planet, and People. These elements are sector-agnostic and are the foundation of any organization’s sustainability agenda. The highest-scoring, top two companies of the year will be recognized with Super Achievers Award: ‘Sustainable Business of the Year’ and ‘Sustainable Business of the Year – 1st Runner-up’ Award, respectively. This year’s awards will also include –Safety Excellence Awards, the Jury Special Mention Award, the Renewable Energy Consumption Index, and Sustainability Analytics.
The Safety Excellence Awards recognize organizations across five key criteria – safety management, process safety, equipment safety, behavioral safety, and occupational health.
The Jury Special Mention Award will be conferred to programs that are best-in-class, scalable, and replicable across industry verticals. The Renewable Energy Consumption Index aims to recognize the industry’s transition to RE while aligning with India’s commitments under the Paris Agreement.
Sustainability Analytics will evaluate how companies are effectively using analytics in their sustainability management in three aspects: Effective Data Collection, Usage of Smart Analytical Tools, and End-to-End Visibility in the value chain.