[ 130 ] | SUSTAINABILITY
SUSTAINABILITY: A RECKONING FORCE
A 360-degree view that considers all stakeholders’ needs and blends both financial and non-financial goals into key business strategies
G SHOHAB RAIS
CHIEF OPERATING OFFICER - INDIAN CHEMICAL BUSINESS, TATA CHEMICALS LIMITED
lobally, the chemical sector is a key engine for an economy’s growth and forms the bedrock for all major industries. The US $165 billion Indian chemical industry needs to adopt a two-pronged approach to reach the ambitious target of US $ 300 billion by 2025, as set by the government – by grabbing the opportunity to expand to a global scale and by recognising and embracing sustainability as a strategic business blueprint. Sustainability, however, cannot be viewed from a limited lens. It is a crucial
subject and its principles include business continuity and social impact in addition to the environmental aspects of the entire value chain. It is not just about effluent and discharge but encompasses energy & water efficiency, adoption of principles of a circular economy, climate change mitigation and biodiversity impacts of business; it is also about seeing the complete picture, a 360-degree view that considers all stakeholders’ needs and blends both financial and non-financial goals into key business strategies. Globally, the chemical and petrochemical industry contributes to
