05 Mar 2020 19:16 IST

UltraTech Cement wins LIBA’s ‘Mother Teresa Award’

Adherence to corporate citizenship ideals recognised; Maruti Suzuki gets special award

UltraTech Cement has won Loyola Institute of Business Administration’s (LIBA) annual Mother Teresa Award 2020. Instituted in 1998 by LIBA, this award honours a company ‘that shows exemplary commitment to the ideals of corporate citizenship.’ Maruti Suzuki was also given a special award.

Latha Pandiarajan, co-founder, Ma Foi, who was a jury member, said: “The uniqueness of the award is that the students of LIBA were involved in the decision process as they were asked to look at company details such as investments in CSR, and its role in upliftment of women and marginalised communities.”

The jury based their evaluation on the following criteria — CSR policies, impact of policies on environment, social impact, and governance. The shortlisted companies were asked to give a presentation. The annual reports of the companies and press reports were documented. In the past, companies from the Tata group, TVS Motors, Mahindra & Mahindra, Infosys, and Indian Oil Corporation have won the award.

P Rajesh Sankar, Unit Head, UltraTech, said: “Working for social change and betterment for a diverse country has multi-dimensional challenges but hard work pays off. Our company follows the mission of an inclusive society. This prestigious award will inspire us to work harder.”

‘People over profit’

Dr Francis P Xavier, Rector, Loyola Institutions, and chief guest, said: “Let us imbibe the spirit of Mother Teresa — to be there where the needy require our help. And today, we honoured two such agents who keep people’s needs first and are mindful of quality service to mankind. They have put people over profit.”

Fr C Joe Arun, Director, LIBA, said: “Each academic field — marketing, human resources, finance — acknowledges that the present approach to business education, with an emphasis on profit while neglecting the common good, contributes to a dangerous and unsustainable economy. Each field should offer an alternative vision based on ethical principles and virtues. LIBA belongs to this group. We always motivate students to help the marginalised sections.”

LIBA also conferred the ‘Beacon 2020’ award to Nimal Raghavan, a social entrepreneur who left his job in Dubai and is now a full-time farmer in India. Along with a team, he founded KAIFA — Kadaimadai Area Integrated Farmers Association. Raghavan said: “We took the initiative of cleaning and desilting of water bodies. We have rejuvenated 54 water bodies, cleared around 200 km of water channels and planted around 4,000 saplings so far. ”

“Jallikattu protests inspired me to look at the problems of farmers in Tamil Nadu on a wider scale. My aim is to make the State free of farmer suicides,” he said.