RITES Limited
Climate Impact & Sustainability Data (2018, 2021, 2022-04 to 2023-03, 2023-04 to 2024-03)
Reporting Period: 2018
Environmental Metrics
ESG Focus Areas
- Environmental Sustainability
- Social Development
- Corporate Governance
Environmental Achievements
- Encouraging use of renewable energy resources such as solar, wind, biomass & others and reduce its carbon, water and waste footprints
Social Achievements
- Engaging stakeholders in undertaking CSR & Sustainability projects in and around the areas of company’s offices/projects and also other backward regions/areas with focus on creating the necessary infrastructure which will promote education, health, sanitation and provide connectivity/mobility, skills and preserve natural habitat, water resources, flora and fauna, greenery, environment, heritage and culture
Governance Achievements
- Promoting the cause of Sustainable Development and giving due attention to social and environmental aspects and their impacts in all its activities including the feasibility studies, investigations, detailed designs & DPRs for various developmental projects in transportation & infrastructure sector
- Creating and enhancing the brand value of the company by adoption of highest standards of Corporate Governance and best management practices and application of its business expertise for the good of the community and society at large
Climate Goals & Targets
Supply Chain Management
Climate-Related Risks & Opportunities
Reporting Standards
Frameworks Used: Global Reporting Initiative’s Sustainability Reporting Guidelines, UN Global Compact Principles, UN Millennium Development Goals, OECD Guidelines for Multinational Enterprises
Certifications: ISO 9001 -2008
Reporting Period: 2021
Environmental Metrics
ESG Focus Areas
- Social
- Environmental
- Governance
Environmental Achievements
- Not disclosed
Social Achievements
- Not disclosed
Governance Achievements
- Not disclosed
Climate Goals & Targets
- Not disclosed
- Not disclosed
- Not disclosed
Environmental Challenges
- Not disclosed
Mitigation Strategies
- Not disclosed
Supply Chain Management
Supplier Audits: Not disclosed
Responsible Procurement
- Not disclosed
Climate-Related Risks & Opportunities
Physical Risks
- Not disclosed
Transition Risks
- Not disclosed
Opportunities
- Not disclosed
Reporting Standards
Frameworks Used: Null
Certifications: Null
Third-party Assurance: Not disclosed
UN Sustainable Development Goals
- Not disclosed
Not disclosed
Sustainable Products & Innovation
- Not disclosed
Awards & Recognition
- Not disclosed
Reporting Period: 2022-04 to 2023-03
Environmental Metrics
ESG Focus Areas
- Sustainability
- Energy Conservation
- Environment Protection
- Corporate Social Responsibility
- Human Rights
- Green Initiatives
- Net-Zero Carbon Emissions
Environmental Achievements
- 3.9% YoY reduction of total water consumption
- 34.53 Million Units Wind Energy Generated
- 2,290 MW Renewable energy tied up for Railways
- GRIHA Gold Standard Building rating for Srijan office complex, Gurugram
- Four stars GRIHA Pre-Certification for RITES Kolkata Office
Social Achievements
- Launched ‘Changing Lives’ CSR initiative, contributing ₹14.10 crore
- 96.74% Customer (client) Satisfaction Index
- 1.58% Attrition Rate
- 8,185 man-days Training provided
- ₹25.43 crore Procurement from MSEs
Governance Achievements
- Received ICAI Award for Financial Reporting and SAFA Gold Award for Best Presented Annual Report
- Received ‘Excellent’ grading for Corporate Governance
- Complied with all applicable environmental laws and regulations
Climate Goals & Targets
- Continued growth and innovation
- Consolidating position in the industry
- Achieving Net Zero Carbon Emissions by 2030 (REMC Ltd.)
Environmental Challenges
- Significant downtick in exports revenue
- Competition from foreign companies in consultancy projects
- Competition from existing service providers and new entrants
- Geopolitical and currency risks
- Policy shift to competitive bidding
- Opening up of sectors for private participation
- Changing policy & regulatory environment
Mitigation Strategies
- Focus on profitability
- Strategic initiatives
- Underscoring brand strength and commitment to quality
- Currency risk management policy
- Regional management structure to strengthen presence in new growth regions
Supply Chain Management
Responsible Procurement
- Preferential Procurement Policy for marginalized groups
- Sourcing from suppliers compliant with social and environmental standards
Climate-Related Risks & Opportunities
Opportunities
- Growth in green consultancy
- Development of energy-efficient products
Reporting Standards
Frameworks Used: GRI, Companies Act, 2013, Indian Accounting Standards, SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, Secretarial Standards issued by The Institute of Company Secretaries of India, BRSR
Certifications: ISO 9001:2015, ISO 17020:2012, ISO 17025, ISO 17065:2012, Independent Safety Assessor (ISA)
Third-party Assurance: M/s Pawan Puri & Associates, Chartered Accountants
Awards & Recognition
- ICAI Award for Excellence in Financial Reporting
- SAFA Gold Award for Best Presented Annual Report
- Dream Companies to Work For (Infrastructure) Award
Reporting Period: 2023-04 to 2024-03
Environmental Metrics
ESG Focus Areas
- Environmental
- Social
- Governance
Environmental Achievements
- Reduced carbon emissions (Specific figures not provided, but initiatives mentioned like solar and wind power plants)
- Reduced energy intensity per rupee of turnover (6.22 GJ/₹ Cr in FY23-24 from 6.03 GJ/₹ Cr in FY22-23)
Social Achievements
- Received the “Dream Companies to Work For (Infrastructure)” Award by Times Ascent at World HRD Congress-2023
- Maintained Customer Satisfaction Index above 90%
Governance Achievements
- Granted Navratna status by DPE
- Won various awards such as SCOPE award in Institutional excellence category, Corporate Governance award from SCOPE, Best presented Annual Report Award in Corporate Governance from SAFA and ICAI
Climate Goals & Targets
- Not disclosed
- Not disclosed
- Not disclosed
Environmental Challenges
- Limited experts available with matching capabilities in consultancy business
Mitigation Strategies
- Adopting a flexible policy for engagement of people with required skill set on regular/contractual/project-based assignments
Supply Chain Management
Supplier Audits: 100% on project sites
Responsible Procurement
- Sustainable sourcing program
- Preferential Procurement Policy for marginalized or vulnerable groups
Climate-Related Risks & Opportunities
Physical Risks
- Not disclosed
Transition Risks
- Not disclosed
Opportunities
- Development of energy-efficient products
Reporting Standards
Frameworks Used: Null
Certifications: ISO 9001:2015, ISO 17020:2012, ISO 17025:2017, ISO 17065:2012, NABET
Third-party Assurance: Akhil Rohatgi & Co.
UN Sustainable Development Goals
- Not disclosed
Not disclosed
Sustainable Products & Innovation
- Not disclosed
Awards & Recognition
- Navratna status
- SCOPE award
- Corporate Governance award from SCOPE
- Best presented Annual Report Award from SAFA and ICAI
- Dream Companies to Work For (Infrastructure) Award