How a Norwegian Company is Helping Indian Firms Build Sustainable Business
Remember - change comes from within
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In a hush and rush to build large businesses, companies often miss the bus enrooting to sustainability. In simple terms, while figuring out their unit economics, they often ignore the environment and society. And when people question, they start to window dress their CSR activities or hope that the social impact companies would lead the change.
However, change comes from within. If we want a sustainable ecosystem to thrive, each one of us has to be part of the journey and businesses have to look within their system and mend their mistakes. They also have to stop working in silos and instead learn to collaborate and build for a larger impact.
One such organization that helps you do this is Xynteo, a Norwegian company which is mainly into the sustainable advisory. In a conversation with Entrepreneur India, Subhashini Chandran, EVP and Managing Director, Xynteo, India explains that the company operates in three spectrums and addresses issues related to "the gap between the few and the many, conflict between man and nature and short versus long term approach."
Globally, India is one of the largest economies but when we talk about sustainability, there is a lot to be done. However, Chandran believes there is huge potential for India to improve.
Talking about how important is India to Xynteo, she says, "Before we solve anything for the world, we have to solve it for India. We always tell our partners to look at India as the place where dramatic changes can route the trajectory for a future and not just as a market. As a Scandinavian company, we are not here to tell in India what to do at all. But the idea is to push large businesses to say that you can do so much more."
Xynteo is known for building collations with companies around the world with issues that matter to them and India2022 coalition is part of this deal. The other partners of this coalition are Aditya Birla Group (Hindalco), Baker Hughes a GE company, Cyient, Hindustan Unilever Limited, Shell, Tata and TechnipFMC.
"At the ground level, nobody gives a guide on how to collaborate better. At best we know is how to do a joint venture where two organisation can exchange values but the minute it becomes three, it gets complicated," she says while adding that, "The thesis of India2022 is that collaboration matters and companies collaborate across the sector and massive organization in a better way for your own individual growth and everyone around."
Where Do We Stand?
Additionally, the company also helps organizations with transformation projects and revisits its operation model to add sustainability in their vision and mission.
Explaining how Indian companies are faring there, Chandran shares, "I think India is an evolved country. The nation has a conscience and conscious. Businesses per se are also fairly responsible and the law has played a major role in this. Decades ago, deep philanthropy was always a part of the business. But maybe along the way, we forgot to keep the same pace and the breadth of commitment."
Furthermore, SMEs can also act as a game changer here. But the sector has its very own challenges which need to be acknowledged.
"It is very nice to talk and hard to do. SMEs often lack access to solutions and ease of implementing. If this is solved, change will be accelerated," she shared.
Finally, on asking her who will lead this transformation, she promptly says – the youth. "The country's youth will call us to try out. I think that is how we are changing now. Youths are far more demanding and want to understand the rationale on why they have to make certain decisions, which they choose to align with," she pointed out.