What is Sustainability? • Focuses on meeting the present needs without compromising the needs of future generations PEOPLE(Social) Sustainable PROFIT(Economic) PLANET(Environment) Pillars of Sustainability (3 Ps)
The Role of Business Engine of Employment Technology & Innovation SDGs will not be delivered without business Source of Finance Private Sector must play a major role in implementing SDGs
Capturing SDG Opportunities STRATEGIC INTEGRATION SDG COMMUNICATION New markets License to Operate Demonstrating how sustainability strategies and products are aligned with and contribute to the SDGs SDG SDGs used as a framework to identify opportunities for innovation and to better manage material risks Opportunities Access to Capital Risk Management SDGs could unlock $12 trillion a year in business value across four economic systems by 2030
Sustainability Reporting and Materiality • Integrated Sustainability Reporting -The latest trend • Provides information about environmental, social and governance performance (ESG) • Materiality is the principle of defining the social and environmental topics that matter most to your business and your stakeholders • Materiality is a fundamental concept in ESG reporting • Environmental and Social issues can have financial impacts • GRI Standard v/s SASB
True Cost Accounting There is an effort underway to establish a way to account for the holistic cost and value of a food product or business across all externalities. This feels idealistic and unrealistic, but is an effort worth attempting Boards need to understand their Fiduciary Duties in relation to sustainability. They can no longer say that they did not know about essential sustainability issues and how it could effect their business. On the opportunity side, but also on the risk side. What is for example your business’ role in issues like climate change and its associated risks
Food System Transformation – A Challenge Our evaluations of Food Systems mostly use the narrow lens of “Productivity Per Hectare”, which reinforces “business as usual”. There are huge externalities along food value chains that must be acknowledged, measured, valued, and managed. Therefore, systems thinking is needed through a universal and comprehensive evaluation framework
Responsible Investment Environment: Climate Change, including physical and transition risk, resource depletion, including water waste and pollution, deforestation Responsible Investment is an approach to investing that aims to incorporate environmental, social and governance (ESG) factors into investment decisions, to better manage risks and manage sustainable long term returns It is a new phenomenon where ESG factors are taken into consideration prior to deciding the fate of investment. Social: Working conditions, slavery and child labour, local communities, health and safety, employee relations and diversity Governance: Executive pay, corruption, lobbying and donations, board diversity and structure
Social License to Operate • The Social License to Operate refers to the amicable agreement between industries and the communities for the businesses to operate without obstructing the livelihood of the communities • Social license to operate is created and maintained slowly over time as the actions of a company build trust with the community it operates in and other stakeholders • A company must be seen operating responsibly, taking care of its employees and the environment, and being agood corporate citizen. When problems do occur, the company must act quickly to resolve the issues or the social license to operate is put in danger
Science Based Targets (SBTs) • At the global scale, the key greenhouse gases (GHG) emitted by human activities are: • Carbon Di-oxide • Methane • Nitrous Oxide • Fluorinated Gases • Methane is 23 times more harmful than CO2 & nitrous oxide is 70 times more harmful than CO2
Sustainable Rice Production in Vietnam Phoenix has partnered with LocTroi Group , a leading agricultural company to develop sustainable rice production in Vietnam We have also partnered with Rikolto, which works with farmers with smallholdings to alleviate rural poverty We are working together to support smallholder farmers to adopt sustainable rice production methods over an area of 10,000 Ha We are implementing SRP Project in three provinces viz. An Giang, Dong Thap and Long An in the Mekong Delta in Vietnam We are working in collaboration with the Department of Agricultural and Rural Development (DARD) and other sub departments for the implementation of the SRP Standard.
Our Water Stewardship Work in Karnal, India Partnered along with Centre for International Project Trust (CIPT), Alliance for Water Stewardship (AWS), Global Agribusiness Alliance (GAA) Two workshops were conducted Stakeholders included in this project are farmers and village community from 8 villages, Industry and local institutions Farmers agreed on the declining ground water and reduction in water quality Plan to implement AWS Standards on the site with an aim to increase groundwater table in the region Stakeholder’s Consultation Farmer’s Consultation
Phoenix Supplier Code • At Phoenix, Our vision is to be conforming to principles of sustainable development. We work with various partners (both suppliers and customers) who share the same values • With this in mind, Phoenix came out with a supplier code namely Phoenix Sustainable Partners Expectations from Supplier partners to • Be a responsible citizen • ‘Say No to Child Labour’ and do not use forced labour. Create an inclusive work environment free of any discrimination or harassment. • Conduct business with ethics and honour commitments • Strive to reduce environmental impact
Our Affiliations and Commitments United Nations Global Compact (UNGC) is a voluntary initiative based on CEO commitments to implement universal sustainability principles and to take steps to support UN goals World Business Council for Sustainable Development (WBCSD) is a global, CEO-led organization working together to accelerate the transition to a sustainable world Global Agribusiness Alliance (GAA) is a coalition of partners in agribusiness sector to make Alliance for Water Stewardship (AWS) helps businesses understand the risk they face from water scarcity and pollution and assist in taking action to manage water as a shared resource The Sustainable Rice Platform is a multistakeholder platform to promote resource efficiency and sustainability in trade flows, production and consumption and supply chains in the rice sector. GlobalGAPis a certification standard to promote safe and sustainable agriculture.
Soil Health • Soil health refers to continuous capacity of soil to function as vital living ecosystem that sustains plants, animals and humans • When the soil health declines, soil pollution occurs • Soil Health can be improved by adding Humic acid, Soil Organic Carbon (SOC) and by doing chelation • The organic carbon has several positive effects such as : • Increase in moisture holding capacity of the soil • Increase in fertility of the soil • Improvement in microbial activity in the soil • Increase in and maintaining a good pH in the soil • Increases the Availability of Primary and Secondary Nutrients in Soil, for better uptake by plants. • At Phoenix, we treat seeds with soil organic carbon and add humic acid in the soil and by doing chelation. We are also planning to establish 100 soil testing centers all across India
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Landscape Approach • The Landscape Approach is about creating solutions that • consider food and livelihoods, finance, rights, restoration • and progress towards climate and development goals. • It places a strong focus on place based public private • governance within the geographic area or landscape • It takes into account conservation, agriculture and other • land uses to address the increasingly complex and • widespread environmental, social and political challenges • It is a holistic approach to understand the connections between different landscapes • It is about achieving consensus between different approaches and different uses
EAT-Lancet Commission Report • EAT-Lancet Commission report recommends a shift towards healthy diet, sustainable food production and at least, halving food loss and waste all at the same time • The planetary health diet is a global reference diet for adults that is symbolically represented by half a plate of fruits, vegetables and nuts. The other half consists of primarily whole grains, plant proteins, modest amounts of meat and dairy, some added sugars and starchy vegetables • No one company can effectively address the systemic challenge required by the targets alone • Business leadership is essential to achieve food system transformation