Shriram EPC

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Chairman's Message

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.
		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.