Ad Here  
Illicit markets a concern to growing economy Smart controls for cooling large multi-zone spaces ... Adding Zest to Scooty Schwing Stetter India joins hands with US-based Gomaco Applauding enterprise... SumInfra- corridor based development... Business Breif Connecting the unconnected European crisis is a global crisis! Hero Motocorp - smooth ride Hyundai excites again Flexible labour laws… Industry-well poised to invest on expansion BRICS development bank Changing dynamics in human resource management Well-refined – RIL’s refinery margins zoom ISRO's 100th mission Big-ticket investments march towards Punjab Holiday Inn opens in OMR Chennai Make way for the new and dynamic railways Celebration time at MS Chola Apple maps – finding its way TVS Logistics – another acquisition to sharpen the business model Tata Steel commence operations at Kalinganagar On the ‘milky’ way TN budget pragmatic and moderate on fiscal deficit STFC raises money Striking cords for 25 years… A global plastic event in India Climate change may change the way businesses work... Durga - India’s largest blast furnace; now operational Rating of states to be released soon Indian Bank – global businesses crosses Rs 3 lakh crore... Four daughters and a proud father Murugappa- a year of consolidation Automotive Vision Plan II... Reality bytes An aerospace-defence cluster in Tamil Nadu… Airlines wage price war World labour laws at a glance AirAsia India infuses funds to fight out competition Digital retail transactions stabilise at higher level… Ridley marathon to India Indigo stays leader with 40 per cent share Economic issues take a back seat at G20 summit Investor friendly Japan Chola MS net crosses 100 crores Nothing to hide... Blue Star plans a new plant in south TiE applauds innovative entrepreneurs Realising double digit growth in Tamil Nadu Gem of social service... Is Indian telecom industry heading for a monopoly? OBO Bettermann for better lightning protection Towards peace of mind TOP 10 CEO Compensation Backpack laboratory Veritas Finance- financing the unfinanced Waste, a gold mine ALL – truck industry is recovering from degrowth Curbing steel imports will hurt small business... Creating Tamil Nadu Banana brand When Centre visits the state Celebrating 180 years of relevance An American alliance in the chemical industry? Techies trip to India CUB: towards card-less withdrawal ALL-two launches in a row Purdue and IIT-M sign the dotted line Focus on self-certification and third party inspection Housing Innovation Challenge, 2015 Steel loses its sheen Scoot offers just Rs.13,500 to ANZ... More gensets and diesel engines from TAFE Research needs more funding LVB gears to become a financial supermarket Economic, business and social sustainability Business Briefs TII-challenging year with flat growth Three more leather clusters… WABCO’s second Chennai plant TCS’ revenues cross Rs 100,000 crore - Pharma market dozes Downsizing spree... People Flow Day- Safety Innovation that helped Chennai port Strategy war escalates between Hero and Honda Time to fast-pace the logistics sector ALL to launch electric busses Inclusive and forward moving... ECGC expands operations Chennai to get a roundabout Metro Dynamic e-commerce scenario IFCI to raise NCDs upto Rs 2000 crore Bridging the skill deficit in pharma industry Sun Edison launches solar pumps Chennai will soon get its World Trade Centre Nigeria comes nearer Secured NCDs from Shriram City Realty sector takes a break... TII’s single largest investment at Thiruthani The new look- 4s Verna Placing the right shoe forward... Brand leaders come forward... Need to focus on ease of doing business... Auto test tracks launched at GARC Oragadam campus Chola MS launches motor app Chennai Port is at last decongested! Carrefour’s quick exit
Economic, business and social sustainability
MC’s Eisuke Shiozaki stressed that business must try to look at economic value, environmental value and societal value, all ensured through sustainability management.

From time to time the M S Swaminathan Research Foundation presents leaders from different spheres to address on current and emerging issues. A recent one by Eisuke Shiozaki, Chairman & Managing Director, Mitsubishi Corporation (MC), highlighted the environmental and social concerns of the successful multinational that operates over vast areas of production and services. Shiozaki has spent around 20 years in the US and thus his presentation in English was clear and lucid. 

It was interesting to note the Mitsubishi Corporation enunciating its corporate principles as early as 1934 stressing on three values of economic, business and social sustainability. 

He traced the evolution of corporates: “till 1985 the entire focus was on profit. The mindset was of increasing share value. Yes, profits are the lifeline of business. But apart from profits, there should be a concern for the environment,” he said. 


Focus on efficient use of resources

For Japan with a dense population, limited geographical area and much dependence on fossil fuels, there has been the traditional focus on efficient use of resources and the environment. 

Shiozaki stressed that business must try to look at economic value, environmental value and societal value, all ensured through sustainability management. We need to balance the three values to ensure sustainability, he said. 

The speaker pointed to the increasing resort to recycling: “steel scrap is melted and recycled recovering value. Simultaneously care must be bestowed on disposing of the environment-unfriendly boiler ash, ferromanganese, ferronickel or contaminated blood from hospitals. These require more careful and effective disposal. For instance, destroying hospital wastages require 2000°C furnaces.”

The Mitsubishi leader said that marine diesel is unfriendly: “hence, we introduced LNG that contributes to lower emissions. We set up the Gas4C to transport LNG in air-conditioned ships. This contributed to a greener maritime environment and also helped in a more sustainable procurement and supply programme,” said Shiozaki. 

Referring to electric vehicles, Shiozaki said that this product requires efficient storage of power. The lithium energy plant focuses on innovating the lithium-ion battery. 


Technology and automation for small farms

Shiozaki’s reference to technology and automation for small farms evoked interest: “Japanese farms (like India’s) are also small averaging 1.2 ha. The number of farmers is declining.  The focus is thus on developing technology and automation and increased rental of farm machinery that are functionally similar to those used in large farms,” he said. 

Such facilities are lacking in India contributing to low levels of productivity of farms dominated predominantly by small farms. His suggestions in this is extremely relevant for India. – SV

Author :
Reported On :
Sector :
Shoulder :
IE, the business magazine from south was launched in 1968 and pioneered business journalism in south. Through the 45 years IE has been focusing on well-presented and well-researched articles. When giants in the industry stumbled to keep pace with the digital revolution, IE stayed affixed embracing technology.
Read more
Economist Communications Ltd is committed to ensuring that your privacy is protected.
Read more
You agree that your use of this Website and the purchase of the magazine will be governed by these terms and conditions.
Read more
S-15, Industrial Estate,
Chennai - 600 032.
PHONE: +91 44 22501236