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Chairman's Message |
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Dear Friends
A few days ago, I read
an article titled, "New
Times Atlas displays
effects of climate
change".
The creators of this
atlas were compelled to
make major revisions in
their latest edition
following changes in
global landscapes. For
example, the Lake Chad
in Africa is now 95 per
cent smaller than what
it was in1963; the
forest cover in South
America shrunk by over
37 per cent over the
last decade-and-a-half.
The message: either we
act now or it may be too
late to act at all. |
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Mr.Arun
Duggal
Chairman |
The root of the problem
What I read
further on the subject
disturbed me more:
- Expanding ozone hole : Since
1985, the hole in the ozone
layer has grown larger than the
continent of Antarctica and
there are predictions of a
second ozone hole over the
Arctic, exposing millions to
ultraviolet-B radiation.
- Dwindling forest reserves:
The Food and Agriculture
Organization (FAO) of the United
Nations estimates a loss of 200
million hectares of forest cover
- more than the total land area
of Mexico or Indonesia - over a
15-year period.
- Increasing desertification:
Nearly a fourth of the earth's
land area has been desertified,
amounting to nearly 70 per cent
of all arable land in dry
regions and equivalent to around
3.6 billion hectares. Around 900
million people - one in every
six - on the planet are
affected.
- Declining energy reserves:
Most of the world's
conventional energy reserves
are declining and according
to the BP Statistical Review
of World Energy 2007,
world's oil reserves are
projected to last another
40.5 years, accelerating the
extinction of the petroleum
man.
Most of us may well be
knowing all this and still
getting along with our own
busy lives, hoping that
things will work out on
their own. But time is
running out and apocalypse
may not be distant.
What next?
So how do we sustain our growing economies without making further demands on the mother Earth? How do we reconcile economic development with environmental sustainability? How do we ensure a cleaner and greener tomorrow to our children?
The solution : Turn back to nature.
Renewable energy, which is derived out of renewable and hence practically inexhaustible sources, is becoming a powerful force. A PWC report (The World in 2050) estimates that the non-fossil fuel share of the aggregate primary energy basket will be a high 30 per cent by 2030 from low single digits today. Renewable energy is less carbon intensive and the carbon dioxide emission from these sources is easily consumed by the ecology, creating a virtuous and self-sustaining green energy cycle.
Sowing the seed for a greener tomorrow
At Shriram EPC, we believe that the only way to save our planet is through integrating economic progress with environmental sustainability. This proposition holds attractive potential through the Kyoto Protocol, which mandates a compulsory worldwide reduction in the global emission of greenhouse gases by 5.3 per cent by 2008-12, compared with their actual levels in 1990. Carbon credits are also emerging as attractive incentives for reducing pollution levels and encouraging investments in environment assets for achieving a high-level of environmental compliance.
In view of this reality, we have charted out a unique positioning and embarked on the creation of green infrastructure - assets that are economically beneficial, environmentally supportive and ecologically sustainable. Besides, the Company’s core process, metallurgy and municipal services business is also expected to witness strong growth in line with the growth in the Indian economy.
I am optimistic that this prudent positioning between our core and green businesses will provide our Company with a critical mass in top line and profits that will make our growth sustainable in an attractive way over the coming years.
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