January 12, 2022


Recognizing Excellence in Sustainable Development









Sustainability 4.0 Awards

In its twelfth edition, Frost & Sullivan and TERI present the Sustainability 4.0 Awards 2021 that aims to highlight the need for linkages between an organization’s strategy, governance & financial performance and the social, environmental & economic context within which it operates. This program enables businesses to take more logical & sustainable decisions that ensure long-term stakeholder value.

Businesses across the globe share the most ‘common’ precious asset – PLANET EARTH. The industrial revolution, over the years, has dramatically changed the earth’s ecosystem and our relationship with it. Today, businesses are dealing with a complex and unprecedented brew of Environmental, Social and Governance (ESG) risks. The effort by the businesses to sustain and overcome this challenge is not only necessary but also makes good business sense.

‘Sustainability’ is foreseen as an increasingly important strategic tool to address these risks. Embedding sustainability with economic value creation, will redefine the business ecosystem by creating value for all stakeholders, build safer environment and a stronger community.

The Sustainability 4.0 Awards are designed to acknowledge the effort made by businesses towards achieving this objective. Through this initiative, we aspire to assist organizations unearth the risks, leverage the opportunities, enable them to benchmark their performance, and of course, be rewarded for their accomplishments.

2019 & 2020 Participants Speak

We are pleased by the comprehensive Sustainability Assessment Framework (Purpose, Partnership, Planet, and People) adopted by Frost & Sullivan and TERI for evaluating organizations on their sustainability journey. Participation in Sustainability 4.0 Awards helped us assess our current performance while enabling us to improve from the previous year and move from Challengers to Leaders category. Our best wishes to the Frost & Sullivan team in their endeavor to drive the sustainability journey in India to greater heights.

– Mr. C. J. IYER, Executive Director I/C (Mumbai Refinery), Bharat Petroleum Corporation Limited

Bharat Petroleum


We are happy that Henkel Adhesive Technologies India was recognized as the recipient of the “Leaders Award” in the Large Business Process Sector – Corporate category, at the 2019 Sustainability 4.0 Awards. Winning this award has been an incredible experience and has helped us to further illustrate our commitment to sustainability while inspiring to do even better in the future. The awards assessment of Frost & Sullivan is methodical, comprehensive and based on a well-defined framework. The model also keeps in context global sustainability and future reporting requirements.

– Mr. Bappa Bandyopadhyay, Director Operations & Projects, India, Henkel Adhesive Technologies India Private Ltd.


Frost & Sullivan’s assessment has always enabled us to sustain high performance. The assessment model focuses on all aspects of the business and compels us to continually review and re-evaluate everything we are doing. The assessment framework based on manufacturing effectiveness, enhanced competitiveness, and business growth is a strong enabler for continuous improvement and journey toward world-class manufacturing.

– Mr. Vijay Kalra, CEO – Mahindra Vehicles Manufacturers Ltd. & Chief of Manufacturing Operations, Auto Sector


The Frost & Sullivan and TERI Sustainability 4.0 Awards are based on a well-defined framework covering all critical areas of sustainability. The team was cognizant of the sustainability relevance and importance to the business. The assessment outcome, on one hand, established the good sustainability practices we have adopted and on the other hand, helped us identify further opportunities to excel in our sustainability journey.

– Mr. Bipin Odhekar, Operations Excellence and Sustainability Head, Marico Limited



The framework and assessment for Frost & Sullivan’s 2019 Sustainability 4.0 Awards stands out in terms of its depth and rigor. The framework enables an evaluation of the sustainability journey and allows meaningful conversations with various stakeholders. It has brought out qualitative and quantitative insights about our sustainability performance and allowed us to benchmark with other leading companies. The award has motivated us to keep working toward enhancing sustainability in our organization and the industry sector.

– Mr. Ashish Dikshit, Managing Director, Aditya Birla Fashion & Retail Ltd.


Everyone aspires to be the best and set benchmarks. For Mondelez India winning the Frost & Sullivan-TERI Sustainability 4.0 Award again is a part of its ambition to attain sustainability goals. Sustainability is a collective journey for the betterment of people and planet, therefore, assessments and recognition from esteemed organizations like Frost & Sullivan and TERI help Mondelez strengthen and build robust plans toward this journey. Mondelez India is impressed with the thoroughness, attention to detail and professionalism of the assessment. It was inspiring and provided us insights on the areas we need to focus on and leverage to go to the next level in the sustainability journey. We would like to thank Frost & Sullivan and TERI for this opportunity and recognition, and the pioneering work done in the area of sustainability.

– Mr. Sharad Kalghatgi, Head – Sustainability and HSE, Mondelez India Foods Private Limited


Glimpses of 2019 Awards


COVID-19 crisis reveals clear linkages between an organization’s strategy, governance & financial performance, social, environmental & economic context within which it operates. This resonates with the ethos of Sustainability 4.0 Awards framework. Our experience with your organization and several others exhibits that embedding sustainability with economic value creation can redefine the business ecosystem and besides building a safer environment and a stronger community, it also creates value for all stakeholders.

For companies, an important lesson to learn from COVID-19 is the need to be transparent and ensure stakeholder management. Companies will now reassess the supply chain risks and go beyond the Tier-1 suppliers to address the vulnerabilities. Tier-2 and Tier-3 suppliers will gain importance as they will now be part of the sustainable development plan. This inclusion may bring the required strategic changes in the SME (Small & Medium Enterprises) ecosystem and create more reliable employment opportunities.

The concept of Sustainability itself is collaborative. Practically the efforts from companies to go beyond their operations to address the value chain risks & what impacts them is very limited. Areas like shared employment, skill availability, supplier development, and environmental protection need strong collaborative actions within our industry.

As far as sustainability is concerned, the focus should be more on effectiveness, and not just compliance.


The year 2020 has been unprecedented and challenging for the service and manufacturing sectors alike. The mandate by the Government of India on self-isolation and social distancing are re-defining the way business operations across all sectors and geographies are operating.

For Frost & Sullivan & TERI, the country-wide lockdown and domestic travel restrictions adversely impacted the timelines of the 2020 edition of this program. However, we were able to uphold the integrity, objectivity and the stringent evaluation process by quickly adapting to the ‘new normal’ and leveraging the digital platform. Our experience in these times with participating organizations exhibits our commitment towards embedding sustainability with economic value creation that can re-define the new business ecosystem.

We received an overwhelming response, and the participating companies welcomed our virtual approach for evaluation. We were able to match the same quality of deliverables and host the first of its kind, Sustainability 4.0 Awards Banquet and India Sustainability Leadership Summit successfully via our virtual platform on August 28, 2020.

For the year 2021, due to uncertainty revolving around COVID-19, the site-assessments will be done virtually.

Testimonials​: 2020 Virtual Assessment

At Henkel, our ambition is ‘to achieve more with less’. We aim to deliver more value in the focal areas of social progress, performance, and safety & health while aiming to reduce our carbon footprint. Frost & Sullivan’s assessment is methodical and is based on a well-defined framework. The “Leaders Award” is testimony to Henkel’s contribution to sustainability by the robust and comprehensive evaluation by Frost & Sullivan, recognizing a year-on-year improvement. The insights provided by the Frost & Sullivan team helped us identify gaps that we need to work upon to further accelerate our journey towards becoming a more sustainable company

– Mr. Bappa Bandyopadhyay, Director Operations & Projects, India, Henkel Adhesive Technologies India Private Ltd.


The framework of Frost & Sullivan and TERI’s Sustainability 4.0 Awards 2020 edition was very robust, well defined, methodical, and well-structured. The assessment was very insightful and productive – quantitatively and qualitatively. Frost & Sullivan’s credibility in this field is well known, and it motivated us to showcase our work and get it assessed. Being recognized in the “Challengers” Category (Process Sector) and receiving the Jury Special Mention Award is a major motivating factor for us and also improves our credibility in the emerging business market. It further helps us to identify the opportunities to excel in our sustainability journey.

– Mr. Dinesh Kumar K.T., Chief Manager, Vardhman Fabrics, A Unit of Vardhman Textile Limited


Frost & Sullivan has been playing a significant role in our journey towards Sustainability/Green Manufacturing for almost a decade. Their robust, methodical, and comprehensive assessment provides tremendous opportunity to analyze year-on-year progress and a sense of where we stand among our peers nationwide. The detailed outcome of the evaluation provides important inputs to us for setting milestones.

– Mr. V.V. Reddy, General Manager – Works, UPL Ltd., Unit 2


The Frost & Sullivan-TERI awards assessment process was indepth, comprehensive and served as a valuable learning experience for GAIL. Through this award, Frost & Sullivan and TERI drive and inspire the sustainability journey in India to greater heights. Despite the entire assessment being done virtually (online) due to COVID-19, Frost & Sullivan and TERI ensured that the process remained robust, data-driven and holistic. To win the Leaders Award as a part of the Frost & SullivanTERI Sustainability 4.0 Awards 2020, is an important validation of GAIL’s eco-conscious and sustainable development model.

– Mr. Manoj Jain, Chairman and Managing Director, GAIL (India) Limited