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COMPANIES
Submitted by: -
Maninder Singh
MBA (Infrastructure mgmt)
Roll no. 12
The Worlds Most Ethical Selection Process
The Ethisphere Institute uses a rigorous selection process when deciding who makes the
list. Per their website, the selection process includes:
1. The Methodology
2. Candidate Selection
Over the course of the year, companies across the world submitted their applications to
become 2009 World’s Most Ethical Companies. Based on these applications, as well as
information Ethisphere gathered throughout the year, a list of semi-finalists was created.
3. In-Depth Analysis
At this stage, semi-finalist companies were notified and given an in-depth survey
questionnaire to fill out regarding their ethics and compliance program, governance and
corporate responsibility.
4. Further Refinement
How does the company respond to the community and workplace, what is the company’s
sustainability track record and how does it audit its supply chain? Ethisphere factored in
placement on major sustainability lists, such as FTSE4Good Index Series.
Corporate governance: 10%
Industry leadership: 5%
How does the company set industry standards for business ethics and compliance,
corporate governance, responsibility, sustainable development and environmental
protection?
Does the company have strong and visible executive leadership on ethics, corporate
governance and citizenship?
Does the company have satisfactory internal control systems, including a leading Code of
Conduct, whistle-blower policies, prevention and detection controls, etc?
Responsible - Cadbury finds a
Milky Way to reduce
emissions
Confectioner Cadbury has outlined its efforts to help reduce the environmental impact of
dairy farming after discovering that milk contributes to just over 60% of emissions.
In response to this finding, Cadbury's has formed a partnership with dairy farmers to
provide practical advice to help farmer reduce emissions.
The programme, which is part of the chocolate maker's ‘Purple Goes Green' environment
initiative, will involve farmers in Selkley Vale in Wiltshire and Gloucester shire, south-
west England.
To begin with a best practice booklet has been released and recently distributed to diary
farmers. The ‘Cadbury Guide to Low Carbon Dairy Farming' addresses the factors that
contribute to carbon emissions from milk production and provides practical measures that
farmers can implement to reduce them.
Cadbury's guide aims to reduce these emissions through changes to farm management
practices such as;
• Improving herd health and welfare, enabling more milk to be produced which
reduces greenhouse gas production per litre
• Optimizing milk yields e.g. giving cows a diet with a balanced nutritional profile
– reducing the fiber levels and increasing the starch level of cow feed
• Prudent use of fertilizers – appropriate to crop demand, timed to minimize
wastage and avoiding excess use of inorganic fertilizers
• Reducing energy consumption – switching off equipment when not in use, using
timers and passive infrared sensors to ensure equipment and lighting is only on
when needed.
The greenhouse gases targeted by the guide are carbon dioxide, methane and nitrous
oxide, which contribute 23%, 25% and 52% of emissions from the average dairy farm,
respectively.
The average dairy cow emits between 80-120kg of methane a year (source: UN Food &
Dairy Organization), which is equivalent to the emissions produced by driving an average
family car for a year.
Ian Walsh, global head of environment at Cadbury, said: "We rely on scientific research
to inform the actions we take and ensure that we reach our green targets. Reducing our
emissions is an exciting challenge. When I started in this role I had no idea I would find
myself in a field in Wiltshire discussing how to reduce the carbon emissions from
burping cows!”
Cadbury has shared the findings with external stakeholders, such as BITC, and key
customers including Asda. Over the next year, the aim is to involve a number of flagship
farms in the Selkley Vale Group to pilot the measures outlined in the guide.
The greenhouse gases targeted by the guide are carbon dioxide, methane and nitrous
oxide, which contribute 23%, 25% and 52% of emissions from the average dairy farm,
respectively. The average dairy cow emits between 80-120kg of methane a year (source:
UN Food & Dairy Organization), which is equivalent to the emissions produced by
driving an average family car for a year.
Euan Murray, carbon foot printing general manager at the Carbon Trust, added:
"In looking at how to reduce its overall environmental impact and drive out emissions
from the beginning of its supply chain, Cadbury has taken a significant step forward. The
Cadbury Dairy Strategy could play a lead role in helping farmers reduce their carbon
footprint both here and abroad and has benefits across the wider food – and particularly
the dairy industry".
DABUR
Making A Difference
'What is that life worth which cannot bring comfort to others'
At Dabur, our commitment to good governance, ethical conduct and social responsibility
is core to our way of doing business, and is strongly aligned with our drive to create and
increase value for all stakeholders. We define CSR as conducting business in ways that
provide social, environmental and economic benefits for the communities and
geographies where we operate.
SUNDESH
SUND
ESH
operates in Ghaziabad and Gautam Budha Nagar district of Uttar Pradesh, and has --
more recently – established presence in Rudrapur district of Uttrakhand. Over the
years, it has contributed to many worthy causes, addressing children’s literacy, improving
healthcare services, skill development, and environment, to name a few.
Medicinal Plant Project – An initiative by Dabur Nepal
Pvt. Ltd.
‘Dehi me dadami te’ (As you give me, I give you in return).
This quote from an ancient text sums up Dabur’s commitment
towards nature. With a strong foundation in the Himlayan
Kingdom, Nepal, Dabur has taken many strong -- but quiet -- initiatives in last one
and half decade towards corporate social responsibility.
Dabur Nepal Pvt. Ltd. is a joint venture company established in the year 1989 when
probably very few investors had their roots in Ayurveda. Thanks to the favourable
climatic conditions here, Nepal has been a major source for the herbal plants which are
extensively used in Tibetan, Chinese, Nepalese and Indian medicines. However, due to
indiscriminate use, over exploitations, poor collection methods, early harvesting and lack
of the post harvest technology, these natural reserves are depleting speedily. What’s
worse, there are no systematic efforts to replenish these natural resources of medicinal
plants in the Himalayan region.
Dabur Nepal has started the project on medicinal plants in Nepal to provide the
modern technology for cultivation of the required medicinal herbs of Himalayas to
the farmers. The only eco-friendly project of CSR nature in Nepal, this initiative is fully
integrated with the company’s business vision.
A state-of-the-art Greenhouse facility has been set up at Banepa, which has the
capability to produce 5-6 million saplings of medicinal plants per annum. All the required
climatic parameters for uniform growth of saplings of the medicinal plants like
temperature, humidity etc. are controlled by automatic computer systems. Besides
helping preserve natural resources, this initiative has also gone a long way in generating
employment and income for local people and improving the socio-economic conditions
of local populace in the Himalayan Kingdom.
ITC
Corporate Governance
Preamble
Over the years, ITC has evolved from a single product company to a multi-business
corporation. Its businesses are spread over a wide spectrum, ranging from cigarettes and
tobacco to hotels, packaging, paper and paperboards and international commodities trading.
Each of these businesses is vastly different from the others in its type, the state of its
evolution and the basic nature of its activity, all of which influence the choice of the form of
governance. The challenge of governance for ITC therefore lies in fashioning a model that
addresses the uniqueness of each of its businesses and yet strengthens the unity of purpose of
the Company as a whole.
Since the commencement of the liberalization process, India's economic scenario has begun
to alter radically. Globalization will not only significantly heighten business risks, but will
also compel Indian companies to adopt international norms of transparency and good
governance. Equally, in the resultant competitive context, freedom of executive management
and its ability to respond to the dynamics of a fast changing business environment will be the
new success factors. ITC's governance policy recognizes the challenge of this new business
reality in India.
ITC defines Corporate Governance as a systemic process by which companies are directed
and controlled to enhance their wealth generating capacity. Since large corporations employ
vast quantum of societal resources, we believe that the governance process should ensure
that these companies are managed in a manner that meets stakeholders aspirations and
societal expectations.
CORE PRINCIPLES
ITC's Corporate Governance initiative is based on two core principles. These are :
i. Management must have the executive freedom to drive the enterprise forward
without undue restraints; and
ii. This freedom of management should be exercised within a framework of effective
accountability.
ITC believes that any meaningful policy on Corporate Governance must provide
empowerment to the executive management of the Company, and simultaneously create a
mechanism of checks and balances which ensures that the decision making powers vested in
the executive management is not only not misused, but is used with care and responsibility to
meet stakeholder aspirations and societal expectations.
Cornerstones
From the above definition and core principles of Corporate Governance emerge the
cornerstones of ITC's governance philosophy, namely trusteeship, transparency,
empowerment and accountability, control and ethical corporate citizenship. ITC believes that
the practice of each of these leads to the creation of the right corporate culture in which the
company is managed in a manner that fulfils the purpose of Corporate Governance.
Trusteeship:
ITC believes that large corporations like itself have both a social and economic purpose.
They represent a coalition of interests, namely those of the shareholders, other providers of
capital, business associates and employees. This belief therefore casts a responsibility of
trusteeship on the Company's Board of Directors. They are to act as trustees to protect and
enhance shareholder value, as well as to ensure that the Company fulfils its obligations and
responsibilities to its other stakeholders. Inherent in the concept of trusteeship is the
responsibility to ensure equity, namely, that the rights of all shareholders, large or small, are
protected.
Transparency:
ITC believes that transparency means explaining Company's policies and actions to those to
whom it has responsibilities. Therefore transparency must lead to maximum appropriate
disclosures without jeopardizing the Company's strategic interests. Internally, transparency
means openness in Company's relationship with its employees, as well as the conduct of its
business in a manner that will bear scrutiny. We believe transparency enhances
accountability.
Control:
ITC believes that control is a necessary concomitant of its second core principle of
governance that the freedom of management should be exercised within a framework of
appropriate checks and balances. Control should prevent misuse of power, facilitate timely
management response to change, and ensure that business risks are pre-emptively and
effectively managed.
ITC believes that corporations like itself have a responsibility to set exemplary standards of
ethical behavior, both internally within the organization, as well as in their external
relationships. We believe that unethical behavior corrupts organizational culture and
undermines stakeholder value.