In an interaction, Ajay Durrani- Covestro, Country President, India and Managing Director, Covestro (India) Private Limited with Chemical Today magazine speaks about sustainability in the chemical industry.
By Debarati Das
Defining sustainability in chemical industry:
Sustainability is about how you can reduce the impact on the planet through continuous innovation thereby extending the life of resources in whatever we do as an organisation. In a world whose population is growing rapidly, and expected to reach nine billion by 2050, sustainable development is not a fantasy but a potent reality that has to be accounted for. With a quantum jump in the consumption pattern, we are now certainly living beyond our means. If we fail to alter the status quo, things are only going to worsen.
Therefore, businesses, which lie at the heart of the resource consumption have to decisively engage themselves with sustainable development. Being an energy intensive industry, the Indian chemical industry calls for standardised practices in environmental administration. The sustainable development forms the premise of responsible corporate governance and is pivotal to boost the growth of the Indian Chemical industry. For maximum impact, sustainable practices must be central to the company strategy and embedded in the culture of the organisation. Indian chemical companies are largely investing in innovative solutions to find appropriate solutions to these challenges.
Challenges faced while driving sustainability in the supply chain:
To address this issue, we ask our suppliers if they share the same values about sustainability as we do. Although suppliers have to follow the code of conduct, we additionally ask them to follow the economical, environmental and social criteria to be a part of the growth of Covestro.
Role of consumers in the commitment of sustainability:
With the global connectivity and of speed information, today people are more aware. India is now taking the next leap with the industries growing, markets expanding and more global brands entering the country. So with all this, we too have to reflect and provide more information to all these global brands on being a responsible company.
Using digital technology to drive sustainability:
In our organisation, we have set a target to have a substantial portion of our business to be managed on e-platform, ie. reduce manual intervention and digitise the entire format. This way, customers can go to a platform and order for himself, have all the information, have transparency of documents, analyse the big data, material data sheet, etc. This way, in terms of sustainability, there is a reduction of manual intervention. In future, this will be one of the efficiency measures which every organisation will incorporate.
Covestro’s future measure of sustainability:
At Covestro we believe in developing products and processes that improve people’s lives, help conserves the planet and move the company’s business forward. With innovative materials and solutions, we want to help improve the quality of people’s lives. At the same time, we recognise the need to find answers that will meet today’s challenges such as the growing world population and limited natural resources.
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