By Rusen Kumar
NEW DELHI: Three companies of Tata Group, the Indian conglomerate with business interests that range from chemicals, and steel to power, ranked as the top organization in the 2017 Responsible Business Ranking released by Futurescape and IIM Udaipur, recently.
Report says that the Responsible Business includes two constructs – sustainability and CSR. While both are sometimes used interchangeably, they are also terms that have different connotations in the Indian context.
“The study analyses top companies in India to create a quantitative, unbiased ranking of company performance on Sustainability and CSR parameters. The study in its fourth year holds up a mirror to corporate India on their journey towards responsible growth.”, report said.
The annual practice undertaken by Futurescap in partnership with IIM Udaipur, is an analytical examination of Indian sustainability reports, annual reports and business responsibility reports. It covers industries as diverse as automobiles, banks, FMCG, infrastructure, information technology, metals and mining, oil, power, steel, pharmaceuticals, telecommunications and others.
The four factors – Governance, Disclosure, Stakeholders and Sustainability – are assigned weights of 20% for Governance,15% for Disclosure, 35% for Sustainability and 30% for Stakeholders respectively and form the basis of the ranking.
These weights were based on the outcome of a Delphi study with industry leaders and academics.
India’s Top 10 companies for Sustainability and CSR 2017
|Tata Chemicals Ltd.||1|
|Tata Steel Ltd.||2|
|Tata Power Company Ltd.||3|
|Shree Cements Ltd.||4|
|Tata Motors Ltd.||5|
|UltraTech Cement Ltd.||6|
|Mahindra & Mahindra Ltd.||7|
|Ambuja Cements Ltd.||9|
Source: Responsible Business Ranking released by Futurescape and IIM Udaipur
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