Responsible Business -IFor Short Notes: 1. CERES Principles for responsible environmental conduct

TheCoalition for Environmentally Responsible Economies (CERES)is a non-profit organization based in the US which comprises investors and environmental, religious and public interest groups.The CERES Principles is a ten-point code of corporate environmental conduct to be publicly endorsed by companies as an environmental mission statement or ethic. Companies that endorse these Principles promise to go voluntarily beyond the requirements of the law, and publicly assert their belief that corporations have a responsibility for the environment.[footnoteRef:2] [2: http://www.uscib.org/index.asp?documentID=2593]

TheCeresPrinciples[footnoteRef:3] [3: http://www.ceres.org/about-us/our-history/ceres-principles]

i. PROTECTION OF THE BIOSPHEREWe will reduce and make continual progress toward eliminating the release of any substance that may causeenvironmentaldamage to the air, water, or the earth or its inhabitants. We will safeguard all habitats affected by our operations and will protect open spaces and wilderness, while preserving biodiversity.I. SUSTAINABLE USE OF NATURAL RESOURCESWe will make sustainable use of renewable natural resources, such as water, soils and forests. We will conserve non-renewable natural resources through efficient use and careful planning.II. REDUCTION AND DISPOSAL OF WASTESWe will reduce and where possible eliminate waste through source reduction and recycling. All waste will be handled and disposed of through safe andresponsiblemethods.III. ENERGY CONSERVATIONWe will conserve energy and improve the energy efficiency of our internal operations and of the goods and services we sell. We will make every effort to useenvironmentally safe and sustainable energy sources.IV. RISK REDUCTIONWe will strive to minimize theenvironmental, health and safety risks to our employees and the communities in which we operate through safe technologies, facilities and operating procedures, and by being prepared for emergencies.V. SAFE PRODUCTS AND SERVICESWe will reduce and where possible eliminate the use, manufacture or sale of products and services that causeenvironmentaldamage or health or safety hazards. We will inform our customers of theenvironmentalimpacts of our products or services and try to correct unsafe use.VI. ENVIRONMENTALRESTORATIONWe will promptly and responsibly correct conditions we have caused that endanger health, safety or the environment. To the extent feasible, we will redress injuries we have caused to persons or damage we have caused to the environment and will restore the environment.VII. INFORMING THE PUBLICWe will inform in a timely manner everyone who may be affected by conditions caused by our company that might endanger health, safety or the environment. We will regularly seek advice and counsel through dialogue with persons in communities near our facilities. We will not take any action against employees for reporting dangerous incidents or conditions to management or to appropriate authorities.VIII. MANAGEMENT COMMITMENTWe will implement thesePrinciplesand sustain a process that ensures that the Board of Directors and Chief Executive Officer are fully informed about pertinentenvironmentalissues and are fullyresponsibleforenvironmentalpolicy. In selecting our Board of Directors, we will consider demonstratedenvironmentalcommitment as a factor.IX. AUDITS AND REPORTSWe will conduct an annual self-evaluation of our progress in implementing thesePrinciples. We will support the timely creation of generally acceptedenvironmentalaudit procedures. We will annually complete theCeresReport, which will be made available to the public.

________________________2. EQUATOR PRINCIPLES[footnoteRef:4] [4: http://www.equator-principles.com/index.php/about-ep/about-ep]

TheEquator Principles(EPs) is a credit risk management framework for determining, assessing and managing environmental and social risk inProject Finance transactions..The EPs are adopted by financial institutions and are applied where total project capital costs exceed US$10 million. The EPs are primarily intended to provide a minimum standard for due diligence to support responsible risk decision-making.The EPs are based on theInternational Finance Corporation Performance Standards on social and environmental sustainabilityand on theWorld Bank Group Environmental, Health, and Safety Guidelines(EHS Guidelines).Equator Principles Financial Institutions (EPFIs) commit to not providing loans to projects where the borrower will not or is unable to comply with their respective social and environmental policies and procedures.In addition, while the EPs are not intended to be applied retroactively, EPFIs apply them to all Project Finance transactions covering expansion or upgrade of an existing facility where changes in scale or scope may create significant environmental and/or social impacts, or significantly change the nature or degree of an existing impact.The EPs have become the industry standard for environmental and social risk management and financial institutions, clients/project sponsors, other financial institutions, and even some industry bodies refer to the EPs as good practice.Currently78 adopting financial institutions (76 EPFIs and 2 Associates)in 32 countries have officially adopted the EPs, covering over 70 percent of international Project Finance debt in emerging markets.The EPs have greatly increased the attention and focus on social/community standards and responsibility, including robust standards for indigenous peoples, labour standards, and consultation with locally affected communities within the Project Finance market. They have alsopromoted convergence around common environmental and social standards. Multilateral development banks, including theEuropean Bank for Reconstruction & Development, and export credit agencies through theOECD Common Approachesare increasingly drawing on the same standards as the EPs.The EPs have also helped spur the development of other responsible environmental and social management practices in the financial sector and banking industry (for example,Carbon Principlesin the US,Climate Principlesworldwide) andhave provided a platform for engagement with a broad range of interested stakeholders, including non-governmental organizations (NGOs), clients and industry bodies.

________________________________3. Global Reporting Initiative [footnoteRef:5] [5: https://www.globalreporting.org/information/about-gri/what-is-GRI/Pages/default.aspx]

The Global Reporting Initiative (GRI) is a non-profit organization that works towards a sustainable global economy by providing sustainability reporting guidance.GRI reporting is a comprehensiveSustainability Reporting Frameworkthat is widely used around the world.

GRIs inclusive, multi-stakeholder approach was established early, when it was still a department of CERES. In 1998 a multi-stakeholder Steering Committee was established to develop GRIs guidance. A pivotal mandate of the Steering Committee was to do more than the environment. On this advice, the frameworks scope was broadened to include social, economic, and governance issues. GRIs guidance became a Sustainability Reporting Framework, with Reporting Guidelines at its heart.

The first version of the Guidelines was launched in 2000. The following year, on the advice of the Steering Committee, CERES separated GRI as an independent institution.

The second generation of Guidelines, known as G2, was unveiled in 2002 at the World Summit on Sustainable Development in Johannesburg. GRI was referenced in the World Summits Plan of Implementation. The United Nations Environment Program (UNEP) embraced GRI and invited UN member states to host it. The Netherlands was chosen as host country.

The uptake of GRIs guidance was boosted by the 2006 launch of the current generation of Guidelines, G3.In March 2011, GRI published the G3.1 Guidelines an update and completion of G3, with expanded guidance on reporting gender, community and human rights-related performance.

The Framework enables all organizations to measure and report their economic, environmental, social and governance performance the four key areas of sustainability.

The Global Reporting Framework includes theReporting Guidelines,Sector Guidelinesand other resources- enables greater organizational transparency about economic, environmental, social and governance performance. This transparency and accountability builds stakeholders trust in organizations, and can lead to many other benefits.

4. ISO 14000 Series Environmental Management Systems[footnoteRef:6] [6: http://www.iso14000-iso14001-environmental-management.com/iso14000.htm]

ISO 14000 is a series of international standards on environmental management. It provides a framework for the development of an environmental management system and the supporting audit programme.The main thrust for its development came as a result of the Rio Summit on the Environment held in 1992.

The History of ISO 14000 As a number of national standards emerged (BS 7750 being the first), the International Organization for Standardisation (ISO) created a group to investigate how such standards might benefit business and industry. As a result this group recommended that an ISO committee be created to create an international standard.ISO 14001ISO 14001 is the corner stone standard of the ISO 14000 series. It specifies a framework of control for an Environmental Management System against which an organization can be certified by a third party.Other ISO14000 Series Standards Other standards in the series are actually guidelines, many to help you achieve registration to ISO 14001. These include the following: ISO 14004 provides guidance on the development and implementation of environmental management systemsISO 14010 provides general principles of environmental auditing (now superseded by ISO 19011)ISO 14011 provides specific guidance on audit an environmental management system (now superseded by ISO 19011)ISO 14012 provides guidance on qualification criteria for environmental auditors and lead auditors (now superseded by ISO 19011)ISO 14013/5 provides audit program review and assessment material.ISO 14020+ labeling issuesISO 14030+ provides guidance on performance targets and monitoring within an Environmental Management SystemISO 14040+ covers life cycle issuesOf all these, ISO14001 is not only the most well known, but is the only ISO 14000 standard against which it is currently possible to be certified by an external certification authority.