Sustainability is an integral part of the Siemens Corporate Philosophy and the company is planning various measures to drive the concept internally as well as externally. For Siemens, sustainable development is the development which meets the needs of the present without compromising the ability of future generations to meet their own needs. The company plans to adopt Sustainable practices for their business; as well as integrate it in their value system. Operating in nearly 190 countries in the world, Siemens invariably becomes a part of the local communities – as an employer and client as well as a good “corporate citizen.” Against the backdrop of growth opportunities and megatrends, the principle of sustainability with its three dimensions – economic, ecological, and social – offers a systematic approach for cooperative action to create long-term business value for the company.
Siemens believes ‘Sustainability’ expands much beyond its dictionary definition and its general association with “Green”. It aims at conserving People and Planet from where Profits are derived in order to make their businesses sustainable. Often corporates face the flak for only chasing our quarterly targets and not being able to make short term sacrifices for long term benefits. But the case studies brought forward at this forum showcasing initiatives, went a long way in dispelling this myth.
At the helm of the Sustainability concept is eco-consciousness. Siemens has the largest environmental portfolio in the world and around 30% of company’s total revenue is contributed by the environmental portfolio and solutions. Siemens recently announced a target of achieving over €40 billion revenue globally in 2014 through its Green technologies. One out of every three euros which the company invests in research and development, goes towards developing green technologies. In India too, Siemens is expanding its green portfolio year on year. The company has recently set up an office in Vadodara, Gujarat to start their renewable energy business in India and has already announced setting up of a wind turbine factory by 2013. Over the years, Siemens’ products and solutions have enabled customers to reduce their CO2 emissions by 210 million tons. Going forward too, the company is committed to play a major role in reduction of carbon footprint through their technologies. For Siemens, the Green initiatives are not just limited to their offerings, the company is committed to optimize its own energy consumption and reducing carbon footprint.
Siemens’ objective is to effectively engage in various initiatives and projects with relevant organizations in order to spread the mindshare in Sustainability. Ecovatives was a small step towards this direction, conceived with the thought to become a movement with support from likeminded organizations. Speaking on the occasion, Dr. Armin Bruck, Managing Director, Siemens India Ltd said, “Siemens is looking at spreading this message to target large businesses, SMEs, Non-profit bodies, government bodies and the general public. This is the first year of Ecovatives, and buoyed by the response, we are now considering to make this an annual event. Besides, good work done by the Indian companies needs to be appreciated and adequately rewarded,” Dr. Bruck added.
In order to have a fair and neutral judgement, Siemens had constituted Ecovatives 2010 Awards wherein imminent panel of jury comprising Arunavo Mukerjee, VP – TQMS, Tata Sons Ltd, and steering committee member of the Caring for Climate Initiative of UN Global Compact, Dr. Prodipto Ghosh of TERI and former secretary Ministry of Environment & Forests, Sadghuru from ISHA and bigwigs from corporate world sifted through 200 applications to arrive at five winners across the categories of EcovativesTM Responsible, EcovativesTM Low Energy, EcovativesTM Conservation, EcovativesTM Building and EcovativesTM Earthcare
Siemens Ltd., in which Siemens AG holds 55.18% of the capital, is the flagship listed company of Siemens AG in India. Siemens in India including Siemens Ltd. comprises 19 legal entities, is a leading provider of industry and infrastructure solutions with a business volume aggregating about Rs. 12,000 crore. It operates in the core business areas of Industry, Energy and Healthcare. It has nation-wide Sales and Service network, 21 manufacturing plants, a network of around 500 channel partners and employs about 17,500 people.