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Corporates asked to be socially responsible

By Our Staff Reporter

BANGALORE, JAN. 25. Corporates must take care of the environment and society if they are to survive in the future, according to M. Mehra, chairman, World Quality Council and President, Institute of Directors.

At the institute's 14th world congress on total equality here recently, Dr. Mehra said public expectations from corporations had undergone a profound change. Today, a company's market capitalisation depended on how it took care of social and environmental issues. In this scenario, a company that focused on profit alone was certain to make no profit.

The theme of this year's congress, held in Bangalore for the first time, is "Triple bottom line approaches for building corporations that last". Dr. Mehra said companies, which wished to create sustainable wealth, should look at people, profit, and the planet. This was called the triple bottom line approach. In a millennium survey, 60 per cent of those polled stated that they would punish companies damaging the environment.

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