Fortune has published world’s 100 accountable companies and surprisingly, none of the Indian companies were able to secure their position.
The criteria to select these companies was based on the quality of their commitment to social and environmental goals.
Last year, there were 7 Indian companies in the list – Indian Oil Corp (IOC), Reliance Industries (RIL), Bharat Petroleum (BPCL), Hindustan Petroleum (HPCL), Tata Steel, Oil and Natural Gas Corp (ONGC) and State Bank of India (SBI).
The top 3 responsible companies are Vodafone, GE and HSBC (get the entire list).
Vodafone in April said it would chop its carbon dioxide emissions in half by 2020; the company plans to do so largely by improving the energy efficiency of its global mobile-phone networks. Vodafone also gets good grades for reporting the details of the campaign – and whether or not it’s going well – on a continuous basis.
company’s (GE) crown jewel is its Ecomagination initiative, a program that aims to expand GE’s portfolio of environmentally friendly products and technologies. CEO Jeff Immelt recently announced that the initiative will produce revenues of $17 billion in 2008 – a 21% increase from the year before – from selling products such as ultra-efficient locomotives and advanced membranes that filter water.
Why do you think are Indian companies not in the list? Oil marketing companies have a very valid reason to not invest in ‘green’, when they were bleeding ‘red’ – what about other companies?
Ashish,
Fortune took the 100 top companies of the world and then rated them on accountability. The highest rank an Indian company got was 116 for Indian Oil.
http://www.indianomics.com/2008/11/16/no-indian-company-in-100-accountable-companies-of-the-world/