A Case Study: On Teri Rewards Corporate Efforts The annual awards recognize the

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A Case Study: On Teri Rewards Corporate Efforts The annual awards recognize the efforts of corporates in environmental management and sustainable initiatives In order to encourage environmental management and protection in the corporate sector, TERI instituted the Corporate Environmental Awards last year. Encouraged by the response and interest shown by corporates, TERI has decided to confer the awards annually. The objective of the awards is to recognize the leadership efforts of corporates in environmental management and sustainable initiatives, recognize innovative practices that promote sustainable development and further encourage and provide I: momentum to environmental initiatives. The awards are divided into three categories: Category companies with a turnover of less than or equal to Rs 100 crore per annum; Category II: companies with a turnover of between Rs 100 crore and Rs 500 crore per annum; and Category III: companies with a turnover above or equal to Rs 500 crore per annum. The application fee for category I is Rs 500 per application; category II, Rs 2,000, and category III, Rs 5,000. Says R K Pachauri, director general, TERI, “The TERI Corporate Environmental Awards help corporates and Indian society in general in two major ways. Firstly, the awards recognize good practices and excellence in protecting the environment on the part of deserving corporate organizations. Secondly, the awards help to focus on the responsibility of business in protecting the environment and conserving our natural resources. Even those organizations that do not participate in the process will get to know about these awards and feel motivated to do their bit in the same cause. Overall, these awards will help to prepare businesses for the coming era when the corporate sector will have to face very stringent environmental standards to be imposed by the public at large and governments in particular. The bottom-line of a company that prepares effectively for such a future will be healthier than that of one that does not.” Out of 110 applications received by TERI this year, 18 companies were shortlisted and the final awards will be given on June 17. The selection of the awards are based on a questionnaire filled by the company and a case study on the environmental initiative undertaken. After shortlisting the companies, experts from TERI visit the site to check on the authenticity of the environmental initiative. The case studies were evaluated on the basis of a few pre-set parameters, like pollution prevention-proactive practices, process improvements and modifications undertaken resulting in environmental improvement, waste reduction and energy or resource conservation. Scientific research and technological innovation-research or technological innovations that have been implemented or demonstrated for addressing environmental issues. Environmental benefits-success and effectiveness of the programme, both in terms of environmental and economic benefits. Potential model for business commitment-the replicability or transferability of the practices, outcomes or experience of the project.

The jury members for selecting the awards are Justice J S Verma, former-chairperson, National Human Rights Commission and former chief justice of India; Vishwanath Anand, vice chairperson, National Environment Appellate Authority; Suman K Bery, director-general, National Council of Applied Economic Research; Sanjaya Baru, chief editor,The Financial Express; and R K Pachauri, director general, TERI. In Category I, five companies were shortlisted: M K Electric; Chemfab Alakalis Ltd; Shriram Alkali and Chemicals; The Orchid—An Ecotel Hotel and Hitech Arai. In Category II, five companies were shortlisted: Andhra Paper Mills Ltd; Sanghi Spinners India Ltd; Shree Cements Ltd; Star Paper Mills Ltd and Samcor Glass Ltd. In Category III, eight cases were shortlisted: Orient Paper Mills; Grasim Industries Ltd; Bharat Petroleum Corp. Ltd; Hindustan Lever Ltd; Chennai Petroleum Corp. Ltd; Harihar Polyfibres; Hindalco Industries Ltd and Hero Honda Motors Ltd. How are the TERI Corporate Environmental Awards different from other similar awards? Mr Pachauri explains, “I am not aware of any other award dealing with environmental performance where such rigorous evaluation and objective scrutiny is carried out in determining the winner. Not only is the technical and economic evaluation of each entry carried out by a team of researchers from TERI, but the final decision is taken by a very eminent panel of judges chaired by a former chief justice of India. It is the result of the objectivity and rigor of the process that has given these awards the prominence they have attained in a short period of time. Another feature of the award, which is worth mentioning, is the subdivision of companies on the basis of turnover. Hence, the performance of a small unit is not evaluated against that of a large enterprise, which may have very different managerial and technological capabilities. The awards are differentiated on the basis of size of the enterprise.” Last year, TERI received some 89 entries; this year, it is 110. Mr Pachauri does not think the numbers are low. “Firstly, a jump of over 25 per cent in the entries received in merely a year is a very encouraging development, but the figure of 110 entries consists of very serious contenders. We accept entries only with a modest processing fee. This eliminates those who may not be serious and those who have only trivial achievements to claim. COMPENSATION MANAGEMENT Besides, the process is made known to all potential contenders, who would be persuaded that this is a high calibre process of selection signified by the very choice of the judges who form the selection panel. Also, the companies are aware that any claims that they make in their entries will be carefully investigated by TERI researchers by site visits and on-the-spot evaluation for all shortlisted candidates. This helps further to eliminate doubtful claims and trivial entries.” Last year, the Phulpur plant of Indian Farmers Fertiliser Co- operative Ltd (IFFCO) won the first award in category III of TERI Corporate Environmental Awards for setting up effluent projects for not only recycling, but also for zero liquid discharge. Says C P Srivastava, joint general manager, Projects, IFFCO, “We feel proud to be awarded as it recognizes our efforts to keep the environment clean.

Please answer the questions below based on the case study above ( The Answers Should be in Details + Computerized + No Copy and Paste

1. What is the objective of the case from the Compensation Management point of view?

2. Discuss the objective of rewards and compensation.

3. Discuss the 3 categories of awards mentioned in the case.

Explanation / Answer

1- In compensation management point of view objective is that claims made by the companies who participated in the awards will not manipulate with the numbers they showed because the team of TERI can validate the result reflected by the corporates.

2-The objective of the rewards and compensation is clear that is to show the proactive nature of environmental preservation and conservation effort of the coprorates.

3- Awards are categorised into three types based on the annual turn over of the company so that big company cannot be compared to small one where former have dominant position.

Category I- Turnover of less than or equal to Rs 100 crore per annum

Category II-Turnover of between Rs 100 crore and Rs 500 crore per annum

Category III-Turnover above or equal to Rs 500 crore per annum.

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