Environmental Social Governance (ESG) standards serve as crucial metrics for evaluating a company's societal and environmental impact, alongside its transparency and accountability. With ESG gaining coinage in the Indian corporate, many Indian companies are now setting standards for their global counterparts in the sustainability arena. An Indian Fast-moving Consumer Goods (FMCG) major is showcasing its sustainability objectives 2.0 with its commitment for net zero transition. In this direction the Indian company has taken extensive initiatives aimed at decarbonizing its entire value chain.
For the fiscal 2022-23, the company reported Scope 1 emissions of 1,354,662 tCO2e, and Scope 2 emissions of 241,113 tCO2e. During the period, the company managed an energy saving of 200 Terra Joules (TJ) in energy consumption, equivalent to mitigating more than 24,000 tons of CO2e emissions, by effective implementation of energy-efficient technologies and equipment such as boilers, chillers, air handling units (AHUs), motors, fans, pumps, and agitators. The conglomerate's targeted investment in energy-efficient equipment and automation systems, has played a pivotal role in optimizing energy utilization, contributing significantly to its operational efficiency. One of the examples of company’s energy-efficiency focus is its Kapurthala warehouse - constructed in 2017 with a reduced carbon footprint design.
As of March 31, 2023, 40 of the company's buildings have been awarded platinum ratings by U.S. Green Building Council (USGBC), Leadership in Energy & Environmental Design (LEED)/ Indian Green Building Council (IGBC) for adherence to green building standards. Additionally, 12 hotels and one data centre have been certified as LEED Zero Carbon Buildings, reflecting the company's commitment to sustainable infrastructure development.
During the fiscal 2022-23, the company’s energy consumption was 26,885 TJ, with renewable sources accounting for 43% of it. Biomass, with a share of 91.5%, was the biggest contributor among renewable sources, followed by wind (6.8%), solar (1.5%), and other sources (0.2%). Through strategic investments in renewable energy projects, the conglomerate has made significant strides in reducing its carbon footprint. Over the past five years, the company has witnessed a substantial increase in its solar energy capacity, up from 4.7 MW to 32.7 MW, consequently elevating the proportion of renewables in its electricity consumption, despite substantial business expansion. In pursuit of its sustainability 2.0 goals, the conglomerate has undertaken several initiatives, including the replacement of fossil fuel-fired boilers with biomass alternatives in its food business segment during the fiscal year 2022-23.
The Indian Fast-moving Consumer Goods (FMCG) company is rapidly progressing towards its 2030 sustainability 2.0 goals. It is not only making a positive impact on the environment and society, but also leading the way for others to follow.
