Azim Premji urges biz to contribute positively to environment, society
He says, given their strong influence and role, it is important for the society that businesses have purpose beyond profit
New Delhi: Businesses must ensure they conduct themselves ethically and fairly with the philosophy reflecting in all their relations and transactions, Founder-Chairman of Wipro and noted philanthropist Azim Premji said on Friday as he exhorted companies to contribute positively towards the environment and society.
Speaking at FICCI Annual Convention, Premji asserted that unless businesses act decisively, they will not be able to deal with environmental crisis. Given their strong influence and role, it is important for the society that businesses have purpose beyond profit, the former Wipro chairman and czar of the Indian IT industry emphasised. “Businesses should ensure they conduct themselves ethically and fairly and this matter of ethics and fairness should reflect in all relations and transactions with clients, employees, vendors, and others which is the foundation... because if business is not conducted ethically, no purpose is material,” said Premji who joined the proceedings virtually.
Businesses, he said, must recognise that their actions have significant effects on the world and society, beyond direct stakeholders. “The effects range from environment to local communities. They must do no harm and must contribute something positively,” Premji said. Business entities yield significant influence and power, he said, noting it is therefore important for society that they have purpose beyond merely making profit. “... we can’t insist that every business should have purpose like this but from societal perspective, it is important,” the tech magnate said.
Terming climate change as the biggest crisis facing environment, Premji drew attention to the issue of enviromental degradation. “Unless businesses act decisively they will not be able to deal with these environmental crisis,” he said. Social issues are far complex than business issues, and success in business does not, in any way, prepare companies to deal with the complexities of the social sector. He highlighted the need for organisations and people to work in co-ordination on issues.
