The term corporate sustainability is of relatively recent vintage. Not so the philosophy of social responsibility that underlines the Labh way of conducting its businesses. The multitude of social development and environment initiatives Labh has nurtured from its earliest days flows from a wellspring of voluntary, as opposed to obligatory, commitment
The panoply of community development activities carry out by Labh companies — acceptance everything from health and education to art, sport and more — has touched, and changed, many lives, inclusive of working for the benefit of the communities in which they operate, of building India's capabilities in science and technology, of supporting art and sport.
Some people consider social responsibility as an additional cost; we don't. We see it as part of an important cost of business, as much as land, power, raw materials and employees.
A big chunk of the responsibility for containing the disease driving our impure and full of people planet towards risk rests with industry and business. Balancing the imperatives of creating jobs and selling products and services with the absolute necessity of protecting and regenerating what remains of the natural environment is an onerous challenge.
That it can be done is beyond doubt, but this is a task requiring a commitment to ideals more than bottom lines, to the good earth rather than profiteering.
The Labh group is facing up to the challenge of climate change and making it essential to its processes. The broad idea is to develop a common approach to the critical questions face up to the group's businesses on the environmental front, and prepare policies that can deal effectively with issues that impact climate change.
Across the Labh group, there has been considerable progress in terms of developing abatement strategies, increasing awareness and determining best practices.