New Delhi, Jan 17 (UNI) In the global business community, where environmental and social management is supposed to be the forte of companies in the developed markets, an International Finance Corporation (IFC) report finds Noida-based Jubilant Organosys to lead the way in sustainable innovations.
In a new report, entitled 'Market Movers: Lessons from a Frontier of Innovation,' IFC, a member of the World Bank Group, and SustainAbility tell the stories of four emerging market companies that have pioneered new sustainable business strategies.
''Although companies from emerging markets are making their presence felt increasingly in the global business community, only a few are known for their environmental and social management,'' said the report.
The report captures key moments in the companies' histories that determined their strategic directions and motivations.
It shows that companies from emerging markets, even more than in developed countries, can lead the way in sustainable innovations, which act as strong market differentiators.
The report states that Jubilant Organosys, a chemical producer, ''has been able to reassure and attract investors with its high environmental, health, and safety record and efficient sustainability reporting.'' Richard Caines, who led the work for IFC, said in a statement ''Sustainability is 'home grown' with these companies. Unlike many companies in the developed world, they did not develop their sustainable business models as a reaction to outside criticism, but rather because they could see the business case.'' The goal was to create new value, rather than protect existing value. Sustainability originated from a different place, he added.
The report finds that Jubilant has increased operational efficiency through environmental efficiency by using sugarcane molases as feedstock which meant lower cost and greater reliability of supply compared to its international competitors.
It also re-uses effluents as products inputs and for bio gas, which reduces operating costs which enables it to save equivalent to 250 tonnes of coal a day, with corresponding cost savings and lower CO2 emissions.
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