As a consultant to the UNEP Finance Initiatives, I would like to clarify that the UNEP FI and the UN Global Compact are two distinct UN organisations, with a similar goal of promoting the values of the UN through the private sector. This fact was misrepresented in the October 6th Guest Column (The triple bottomline). The 250 banks to which the article refers is in fact a reference to the members of the UNEP Finance Initiative, which is comprised solely of banks, insurers and asset managers.
The initiative, which now has 264 signatories to either the Statement by Banks on Environment and Sustainable Development or the Statement of Environmental Commitment by the Insurance Industry strives to promote and encourage the adoption of sustainable practices throughout the financial sector. UN Global Compact signatories, on the other hand, sign on to the Global Compact principles, a separate commitment that is open to all companies and is focused on a much broader mandate.
Please refer to the edit page article Theres something about a start-up (Nov 1). I work in a big MNC where this spirit of life and death is missing. Most people prefer it that way as long as they get their salaries at the end of month.
You are right when you say that the initial few years of a company are exciting but why does the success, for which everyone was even ready to put money from their pocket, destroy the chemistry One reason could be the personal greed of team members or their lust for power. Over all, it made excellent reading.
No Right To Strike
The recent ruling of the Supreme Court that government employees have no right to strike is a welcome step. The right to strike has outlived its utility. Today, government servants are a privileged lot. There are very poorly paid workers in the private and unorganised work places. Trade union leaders should concentrate on removing the chasm that divides the organised and unorganised sectors. That will be genuine social work.
V S Venkatavaradan
Corrigendum The credit line for the article written by Vivek Moorthy for the Monday Page, November 3, should read as: The writer is visiting professor, Centre for Economic Studies and Planning, JNU, and visiting fellow, National Institute of Public Finance and Policy, New Delhi. The error is regretted.