Mumbai International Airport Bags the Prestigious Golden Peacock Award 2014 for Sustainability

(Mr Prasad Nair and Mr Narendra Hosabettu receiving the Golden Peacock Award on behalf of MIAL)

GVK Mumbai International Airport Private Limited (MIAL) has bagged the prestigious ‘Golden Peacock Award for Sustainability’ for the Chhatrapati Shivaji International Airport (CSIA). The award was presented at a specially organized “Golden Peacock Awards Ceremony”, on Wednesday, October 29 2014 at House of Lords- UK Parliament, Westminster in London.

Considered the greatest recognition of corporate excellence in areas of innovation, quality, sustainability, training, governance, environment management and corporate social responsibility the Golden Peacock Awards assessed the applicants on the basis of an exhaustive set of parameters covering a wide range of issues  and programs concerned with the Triple Bottom Line of the Business, also called the ‘TBL’ or ‘3BL’. Key to Sustainability the concept of ‘TBL’ means that the business success is defined not only by monetary gains but also by its environmental and social performances. In the current scenario, transparency about sustainability of organizational activities is of prime interest to a diverse range of stakeholders that include business, labor, non-governmental organizations, investors, accountants, and others. The idea of “Award for Sustainability” encourages initiatives in promoting sustainable development amongst organizations and rapidly accelerates the pace of stakeholder oriented improvement process. Receiving the award establishes the inspiration and alignment in the entire work force and also creates the organization’s brand equity on “SUSTAINABILITY” that reflects the extent of:

• Responsiveness of organizational strategy to the needs of different stakeholders
• Integration of Sustainable Development issues with corporate functioning
• Development of innovative partnership models to fulfill social responsibility

Continuing its foray in Sustainable Development and promoting Sustainability across the value chain, MIAL had launched its second Sustainability Report in August 2014, a first in Asian and fifth in Global Aviation sector to follow the Global Reporting Initiative (GRI) G4 guidelines communicating about the Sustainable practices adopted in the operations relating to economic, environmental, and social performances.

The report is based on highest assurance level “In Accordance – Comprehensive” as per the GRI G4 guidelines. The Global Reporting Initiative (GRI) is a global non-profit organization in the sustainability domain. GRI promotes the use of sustainability reporting as a method for organizations to become more sustainably efficient and contribute to sustainable development. A sustainability report is a report published by a company or organization about the economic, environmental and social impacts caused by its everyday activities. A sustainability report also presents the organization’s values and governance model, and demonstrates the link between its strategy and its commitment to a sustainable global economy.

GRI’s mission is to make sustainability reporting standard practice for all companies and organizations. Its Framework is a reporting system that provides metrics and methods for measuring and reporting sustainability-related impacts and performance. The Framework – which includes the Reporting Guidelines, Sector Guidance and other resources – enables greater organizational transparency and accountability. This will build stakeholders’ trust in organizations, and lead to numerous additional benefits. Thousands of organizations, of different sizes and sectors, use GRI’s Framework to understand and communicate their sustainability performance.