Abstract
Sustainable development has become one of the key principles for succeeding human development goals while at the same time strengthening the power of natural systems in order to provide ecosystem services which the economy and society depends upon. The society’s end result is where the use of resources and the living conditions prolong to meet the human needs without hindering the balance of the natural systems. If ever focusing on Environmental sustainability, it will have a concern with the natural environment and how it remains diverse and productive. For natural resources are derived from the environment, the state of water, air, soil are of particular concern. GRI (Global Reporting Initiative) has an important role to form a framework of sustainable development in businesses, government and other organizations. The goal of the sustainable development process is to achieve the status of ‘sustainability’ in all communities. It is important to make compatible with developed and flexible using the standards laid down by GRI therefore in the long term,strategies’ of sustainable development should assist the continuance of the system of biodiversity of city and suburbs through the active protection and sustainable utilization of natural sources. Therefore in order to achieve sustainability, it is necessary to make structural reforms as regarded in the standards set by GRI and to create some deep and fundamental changes in all levels of communities. Sustainable Business Models (SBM) integrates a triple bottom line approach and includes stakeholder interests, including the environment and society. They are important in implementing business innovation for sustainability and can help fix sustainability into corporate purpose, and serve as a key driver of competitive advantage. This study focuses on the analysis of the sustainable development of Vedanta Company
Highlights
IntroductionCase study in the form of industry analysis [1] or company analysis [2-3] allows researchers to analyse innovative practices and strategies followed by companies in a given industry sector and provides an opportunity to business practitioners to learn from decisions which led to success and failure in organizational performance [4]
Vedanta Company was known as Sesa Sterlite/Sesa Goa Limited
Vedanta is availing the highest scoring handed by Sustainable Plus which is the country’s first label of sustainability introduced by CII-ITC Centre of Excellence for Sustainable Development (CESD) [6]
Summary
Case study in the form of industry analysis [1] or company analysis [2-3] allows researchers to analyse innovative practices and strategies followed by companies in a given industry sector and provides an opportunity to business practitioners to learn from decisions which led to success and failure in organizational performance [4]. Vedanta Company’s ultimate aim is to set and achieve sustainability targets by integrating the talent of the trending generations and get the experience of the knowledge anchors across the globe [5]. They believe upon the 3 imperatives that govern their business concern that goes with collaboration, conversation, and creation of shared value with the intention of working collectively will give a great desired outcome. The CESD assigns businesses based on the concepts which include transparency, responsibility and accountability. They have enhanced their strengths and enlaced all sides of the triple bottom line to a build strong comprehensive extension
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