Environment Responsiveness of Petrochemical Organisation in India

Abstract

Many companies have announced ambitious sustainability plans to reduce their carbon foot print and save environment. Product manufacturers are redrawing their marketing plans with emphasis on the eco-friendly theme. Companies are leaving no stone unturned in their quest to reduce carbon footprint in their new processes and raw material which can help these companies achieve their sustainability goals in the face of this competitive world, organisations need to adopt different strategies. Green effort and environmental responsiveness towards society go a long way for business sustenance. Growing awareness about the environment has made the consumers conscious about importance of eco-friendly products and they are ready to pay the premium. As a result , product manufacturers are incorporating changes in the products and processes to suit the customer demand. Today the customer awareness on health consciousness and eco-friendly products have gone up. Manufacturing companies are looking at improving the process and products as well as reduce the environmental loads. Several literatures were published regarding different key drivers and motives for these green efforts made by companies. However, detailed studies were not found in petroleum and petrochemical Industries and approaches adopted by Indian Public Sector Undertaking (PSU) and Private sector organisation. In this paper detailed study is being conducted for major PSUs and private sectors in India. The key initiatives are elaborated and compared to evaluate organisations’ ecological responsiveness and societal impacts are discussed. Global detergent players like HUL and P&G and two major petroleum and petrochemical industries of neighbouring country, China and SHELL Global have been referred in the context as these companies are supposed to be the leaders in Sustainability initiatives. Data have been collected through the content analysis of companies’ web-sites and documents.

Keywords :  Environmental Management System(EMS),Recycling, Renewable energy, GHG emission, Carbon capture and storage, Green packaging, Sustainable development, Eco-product