I am delighted today to enter
The Victor Menezes Convention Centre.
I spent a year at IIT.
And then to MIT, you see.
That year I spent in Hostel VIII
Proved to be really great!
Only a handful of freshers were there
The Hostel then we had to share
With students in their final year.
The memories, now that I’m here,
Once again, come flooding back
Of all those seniors, top of the stack,
Perhaps you guessed it. What the blazes!
It was none other than Victor Menezes!
He got me involved in Theatre and Quizz!
One day I proved to be a whizz.
The colonial mind set still lingered there.
His strange question, I shall share.
Name England’s, ruling Kings and Queens.
Though I was young, still in my teens,
I’ve always been a history buff.
On Royal History, I knew my stuff.
None of the audience had really reckoned,
From William the Conqueror to Elizabeth the second,
That I’d reel them off one by one!
There were loud cheers when I was done!
You may find it rather strange
That an engineer has a broad range.
Of course it’s true, a broader view
Certainly helps to think anew.
For holistic problems it’s a gain.
It’s a must if we’re to sustain!
According to Steven Pinker
And supported by many a thinker,
The world is becoming a better place
Though at a slow but steady pace.
And yet there are problems for sure
And climate change is at the fore.
And inequality is dire
And may even be getting higher.
And more and more we seem to see
Communal hate and autocracy.
If progress on all these is slow
The consequences are grave, we know.
Their abilities and constraints are such
That governments can't do much.
NGOs have few means but ability
And businesses have means but don't see
These issues as part of their core.
For profits is how they would score.
But businesses slowly realise
That profits are a short term prize.
After all what do businesses gain
If they die out and do not sustain?
But how much can they afford to spend
To ensure their existence doesn't end?
That answer's not easy to find
But a thought still comes to my mind.
If the efforts of all are combined
The synergies that we can find
Reduces costs, raises gain
And obviates inevitable pain.
There’s a capitalistic strain
That enthrones shareholder gain.
And Milton Friedman could see
That this simplistic philosophy
Could lead to great efficiency
But wherever there's externality
This capitalism red in tooth and claw
Can prove to be a dismal flaw.
Correction can come from regulation
Or even from self remediation
And Adam Smith himself foresaw
That business could address this flaw.
It should be clearly understood
One can do well by doing good.
Doing it smartly we do better
So why not be the trend setter!
In capitalism's early days we see
Social responsibility in some degree.
Not from the Anglican's perch
But from the Nonconformist Church.
To dissipate the urban gloom
Both Cadbury, Lord Leverhulme
Then pioneered the company town.
Some observers would surely frown
At their extremely paternal attitude
But many might view it with gratitude.
We should remember in that age
It compensated their lowly wage.
It's time to get the Tata group
Now very much into the loop.
Because it seemed morally right
The Tata group then set its sight
At such a very lofty height,
For what Trade Unions had to fight
In Europe for many many years
Was gifted by these worthy seers,
From the goodness of their heart.
Undoubtedly this played a part
In honing their great reputation
And then contributing to the nation.
And doing good is very sound
What goes around does come around.
Doing good isn’t just a cost
The gain outweighs all that’s lost.
My grandfather probably saw
These examples and found no flaw.
He bought faraway marshy land.
His critics just couldn't understand.
They concluded he had gone quite mad
But today we are glad, not sad.
A township then slowly arose
And this is where our business grows.
We provided every needed tool
Housing, hospital and school.
My uncle known as SPG
Way back could clearly see
The environment was under stress
Neglect he knew would be a mess.
Our creek side land was reserved
The mangroves there well preserved.
And from my office I gaze out there,
A Mumbai view that's very rare
With greenery all the way
Until you sight New Bombay.
And now and then, with friends I float
On a gently moving boat,
With pink Flamingos in full flight,
To my mind a splendid sight.
In saving tigers he played a role.
The environment was a major goal.
The Tata Trusts as we all know
Get a very constant flow
Of dividends from shares they own.
It may not be quite as well known
Our trusts also have a share
The proportion’s smaller but it’s there.
And here I think that we all ought to
Pay careful heed to Michael Porter.
With Shared Value there's no cost
For doing good as nothing's lost.
All it takes is a thinking brain
To remove a societal pain
And combine it with a business gain
To create a sustainable chain
Of endless mutual benefit.
This concept is a tremendous hit.
We thought that we should also try
And see if we could apply
This philosophy to our group
Our employees also joined the loop.
In the year 2010
Studies were commissioned and then
With the help of Dasra and FSG
Our new program, one could see.
We aptly named it Good and Green
And what a journey it has been!
And how do we define our role
What could be a proper goal?
Now the UN has a lengthy list,
So in recounting, some would be missed!
So I will focus on just three
That I think would be the key
For all the others to fall in place
And enable us to win the race.
Good health through perfect sanitation,
Environment and education.
All of these can be seen
In our program Good and Green.
And so without partiality
Our goal for all's neutrality.
Whether water, carbon or solid waste
By 2025 we will make haste
To make our net emissions zero.
Will that make the group a hero?
In 2010 the goal looked tall
But we took a reasoned call
Technology would save the day.
So far it has turned out that way.
As technology takes a leap
Green energy gets very cheap.
Keen observers quickly saw
That Solar also tracks Moore's law.
Whether groundnut shell or bagasse
Our India's full of biomass.
And bamboo is another way.
Growing more can save the day!
At first we thought we'd have to spend
But that's not true, for in the end,
The more we thought and the more we slaved
We did invest but we also saved.
And solar is still getting cheaper
And as we start digging deeper
In India it will hit the goal
Of being cheaper than even coal
In just a handful of years.
Already we and our peers
Are sourcing solar electricity
At lower rates than from the utility.
For quite some time we've been extorted
As their finances aren't still sorted.
A silver lining can be seen,
Since it incentivises green.
Our cost of water is not so high
But yet we do attempt to try
To reduce our water consumption
But all the same it's a safe assumption
Our water use won't disappear
And so to be neutral I fear
We will have to mitigate.
Though fortunately I can state
That developing a watershed
Doesn't cost much and instead
Our agribusiness can benefit.
The government will do its bit
But where it fails we'll fill the breach
And hopefully we will reach
Many farmers on the cheap
But the benefits that we reap
Will compensate for the cost
And once again nothing's lost.
Our partner here is our trump card
It is none other than NABARD!
On the water front we have good news
We save 6 times what we use!
There are many paths that we can see
For achieving Carbon neutrality.
But the cheapest way is certainly
Through energy efficiency.
Real interest rates are rather low
And high returns quickly flow
From any energy saving device.
For business this is very nice.
Not only are returns quite brisk,
There’s also very little risk.
In India mandated CSR
Can help us go very far.
Multiple benefits is what one sees
With water projects or growing trees.
Good livelihoods are created
Our carbon emissions are abated.
Trees planted at a river’s source
Maintain the flow throughout its course.
So many benefits we can see:
The preservation of biodiversity,
Different species can be tried.
Useful products can be supplied
Like biomass or edible fruits
And yet the trunk and the roots
Can sequester carbon, clean the air,
A win-win that is very fair.
So while we decarbonise
Why not also monetise.
So never fall for either or.
Our hearts and minds demand much more.
Neutrality can come with ease.
Some may think that I’m a tease.
Some companies are not yet sold.
For some it’s tough or so I’m told.
Energy intensive firms would say
It’s tougher then for them to play.
If you can turn all waste to gold
And if you can be very bold
With inventing technology
Any industry can see
Eventual neutrality.
And there is so much more to gain
If it’s across our entire chain.
The case of course is very clear
And yet we are nowhere near
Any kind of firm solution
To end Greenhouse Gas pollution.
Around the world we would find
So many leaders that are blind.
Or perhaps not so benighted
But conveniently shortsighted.
Why undergo any pain
If by the time you get the gain
You will no longer be around.
To politicos this may seem sound.
Prevention is much better than cure!
So learn it now or then endure
The endless pain and aggravation
Of the heavy cost of adaptation!
If you neutralise at a cost.
Competitively much is lost.
A uniform carbon tax
Would protect all our backs.
But bear in mind it’s not a cost.
For the economy nothing’s lost.
A UBI could be instated,
Some other tax could be rebated.
And if this is indeed just so.
Each economy would still grow.
Now with the right advocacy
Someday soon we could see
An enabling global policy
That would encourage us to be
Quite Carbon neutral with no pain.
The world can only stand to gain.
We can be fair to every nation,
Avoid the cost of adaptation!
But if we don’t collaborate
We can’t escape this sorry state!
A tax is best and most direct
We can achieve some effect
Even with cap and trade.
Another way it can be played.
The World Business Council of Sustainable Development
(WBCSD) is bent
On ensuring business is sustainable
This goal is eminently attainable.
All the members are obliged to sustain
With membership criteria they must attain.
I serve on their Executive Council
And their effective counsel
Clearly helps to show the way
Effectively we learn to play.
Collectively we make a pact
With governments we interact
Ensure that policies are fair.
Our experiences we can share.
Collectively we all learn
To be sustainable while we earn
All our members truly care
About a planet green and fair.
The planet of course must survive
If businesses are to thrive!
Now Covid opened up our eyes
Let’s hope that we’ve become more wise!
We saw the benefits of green.
But something else was also seen.
The different outcomes we could see
Because of inequality.
Can Covid then act as a spur?
Now couldn’t it help to stir
Our hearts and minds to newer heights
With ESG now in our sights?
The vision that we should now share
Is a brave new world both green and fair.
Lack of health and education
Leads to the perpetuation
Of inequality through generations
In many of our nations.
Without good health you never learn
If you don’t learn you cannot earn.
For health as well as climate change
It certainly isn’t strange
That prevention’s better than a cure.
On public health we should spend.
It is much cheaper in the end.
With little cost and greatest ease
We could reduce lifestyle disease!
At any rate I am quite sure
We would spend less than for a cure.
In order to achieve this goal
Businesses could play a role.
Through business models and CSR
Together we can go quite far.
New technology is what we need
In order to really succeed.
Startups have a role to play
Their technology can pave the way.
Undoubtedly we will see
New technologies eventually.
But in this crisis what we need
Is deployment with greater speed.
If governments take a stance
To provide subsidies and finance
We will be able to master
New technologies that much faster.
And similarly through education
We can serve ourselves and the nation.
We often think that charity
Can address disparity.
But tackling health and education
Are better means for alleviation.
Through action and advocacy
We can help all humanity
To create a world that’s just and fair
And everyone is free to share
Nature’s bounty and be fulfilled
And then I’m sure we’d all be thrilled.
Our people also volunteer
And this also makes them cheer
Together all of us can steer
A world in which there’s harmony
Between business and society
A mutual reinforcing loop
Benefitting every group.
And once again our CSR
Can serve to take us very far.
The projects that are the biggest hits
Provide us all with benefits.
Ingeniously we can plan it
Serve profit, people and planet!
Sustainability is not a pain.
For after all it is a gain.
It helps us all to survive,
Last long as well as to thrive.
It’s a license to operate.
The ecosystem finds it’s great.
Society, Governments, Banks
Cooperate, convey their thanks.
Together with both heart and brain
Sustainably let’s sustain!
With ESG spends nothing’s lost
As benefits outweigh the cost!
And Governance also pays.
It’s an effort in the early days
But over time you are rewarded
Implicit trust is then awarded.
The values for which you stand
Help to enhance your brand.
You must persist and never balk
Consistently walk the talk.
If your Governance is strong
The payback won’t be very long.
Always keep these facts in sight
Don’t hesitate to do what’s right.
This strategy is tried and tested
In the long haul it can’t be bested.
Now ESG will take you far.
Don’t just be a shooting star
Rising high before you fall
Instead take the enduring call.
All of us can forge ahead
If we only learn to shed
The barriers that can divide.
And if cooperation's tried
With the help of business, I foresee
A helpful, thriving society.
