True sustainability calls for an outlook as well as an approach that is multi-dimensional and multi-focussed. Aware and evolved companies have realised that they are responsible for and are an integral part of the
economic-environmental-social structure - they have both an opportunity as also an obligation not only to create value for the shareholders, but also safeguard the planet and benefit the people at large.
Ever since its incorporation in 1947, the 3 dimensions of Sustainability, Economic, Environmental and Social, as they are now generally known and under which the performance of a business entity is measured, have been woven into the Purpose and day-to-day working of Atul Ltd.
In fact, the Founder of Atul, Mr Kasturbhai Lalbhai, and his successors invariably conducted business with a larger purpose keeping in focus the interests of all stakeholders. The Company is proud of this legacy and is endeavouring to nurture and strengthen it.
Many leading companies around the world are reporting their performance as per the framework of Global Reporting Initiative, and Atul is in the process of consolidating its initiatives and impact keeping also in focus the National Voluntary Guidelines and Business Responsibility Report as required in India. However, the information contained here may show the approach of the Company.
In fact, the conception, evolution and transformation of Atul into a leading chemical conglomerate, spanning over 6 decades - wherein a remote area of India has become one of the finest and greenest townships, is by itself an example of economic, environmental and social Sustainability.
Atul has been engaged in serving the society since its very beginning and has established Atul Foundation (Trust) which focuses on i) Conservation, ii) Education, iii) Empowerment, iv) Health, v) Infrastructure and vi) Relief through several Trusts, Institutions and Partnerships.
The aspects covered under Atul Foundation (Trust) are therefore not mentioned elsewhere in the Section though relevant links are provided for ease of reading. The reporting of Atul Foundation (Trust) is expected to significantly change in step with the introduction of Schedule VII of the Companies Act 2013.
Let Atul village be the centre and not the boundary for Atul for all its initiatives, for business and beyond. The Company will survive the test of time only when it works with a larger purpose. This is the law that cannot be defied.
- Siddharth Kasturbhai