Climate Change Data

Environmental Metrics

ESG Focus Areas

• Energy & Carbon
• Water & wastewater management
• Circularity
• Supply chain management
• Product Stewardship
• Human Capital
• Human Rights
• Occupational Health and Safety
• Employee Wellbeing
• Social Capital
• Corporate Social Value (CSR)
• Governance
• Supply Chain Management
• Customer Centricity
• Industry Collaboration
• Natural Capital
• Climate Change
• Circular Economy
• Waste Management
• Biodiversity
• Financial Capital
• Market Leadership
• Risk, Opportunities and Crisis Management
• Intellectual Capital
• Innovation
• Manufactured Capital
• Product Quality and Safety

Environmental Achievements

• Achieved zero dependency on freshwater in Anjar manufacturing plant and working to replicate across facilities
• Reduced energy consumption by over 2,00,000 GJ, avoiding emissions of around 31,814 tCO2e
• Recycled and reused 23,443 MT of non-hazardous waste
• Used ETP sludge from Anjar factory as fuel, substituting fossil fuels and achieving zero hazardous waste to landfills
• Planted more than 2,79,000 trees at Anjar

Social Achievements

• Launched 'SPUN' initiative, repurposing fabric waste and creating livelihood opportunities for women
• Impacted 1,350 women entrepreneurs through Wel-Netrutva project
• Provided healthcare facility to 70,427 women and adolescent girls
• 42,726 hours of HSE training provided to employees and contractual labor
• Wel-Shiksha program impacted 75,000+ students and trained 1,300+ teachers

Governance Achievements

• Established ESG & CSR committee of the board
• Implemented a third-party administered whistleblower mechanism
• No instances of non-compliance during the reporting period

Climate Goals & Targets

Environmental Challenges

• Cotton availability and surging prices
• Supply chain disruptions and high freight costs
• Climate change impacts on cotton production and operations

Mitigation Strategies

• Developed alternative sourcing strategies
• Investing in low-carbon technologies and process improvements
• Implementing climate risk mitigation programs
• Exploring clean/green energy opportunities
• Using biomass for steam generation

Supply Chain Management

Supplier Audits: 85 of total Tier-1 suppliers audited on social and environmental aspects

Responsible Procurement

• Sustainable Procurement and Responsible Sourcing Policy
• Suppliers Code of Conduct

Climate-Related Risks & Opportunities

Physical Risks

• Heat waves
• Floods
• Tropical cyclones
• Changes in precipitation
• Extreme weather variability
• Rising sea level
• Increasing mean temperatures

Transition Risks

• Regulatory changes
• Market shifts

Opportunities

• Development of energy-efficient products
• Renewable energy generation
• Low-carbon technologies

Reporting Standards

Frameworks Used: GRI Reporting Guidelines, TCFD, SBTi

Certifications: ISO 9001, ISO 14001, ISO 45001, SA 8000, OEKO-TEX® Standard 100, GRS, GOTS, AAFA

UN Sustainable Development Goals

• Goal 7
• Goal 13

Initiatives contribute to these goals through various programs and actions detailed in the report.

Sustainable Products & Innovation

• Patented Nanocore (R) anti-allergen bedding products
• Goodrest range of organic sheeting products
• Bath rugs made of 100% recycled polyester
• Products using Tencel and Lyocell
• Recycled cotton blended products
• Towels with blended recycled polyester
• SPACES organic bed sheets

Awards & Recognition

• Best Community Sustainable Award | TESCO
• National Water Award (Best Industry) | Ministry of Jal Shakti, Government of India
• Winner - Challengers Award (2021) Frost & Sullivan & The Energy and Resources Institute Sustainability 4.0 Awards
• Jury Special Mention Award Frost & Sullivan & The Energy and Resources Institute Sustainability 4.0 Awards
• The Clarivate South and Southeast Asia Innovation Award 2021

Environmental Metrics

ESG Focus Areas

• Climate Change
• Water Stewardship
• Circular Economy
• Sustainable Farming
• Biodiversity
• Employee Well-being
• Community Development
• Ethical Supply Chain
• Governance

Environmental Achievements

• Reduced overall GHG emissions by 19% compared to 2021-22
• Recycled 274 MT of plastic waste
• Reduced water intensity to 31 KL/MTE
• Reduced energy intensity to 30.5 GJ/MT
• Achieved 75% sustainable cotton sourcing
• 76% of total packaging use is from recycled material
• 100% of cartons used for packaging are made from recycled paper
• Anjar manufacturing plant uses 100% recycled water for process use
• Flooring plant in Telangana is a zero-liquid discharge (ZLD) facility

Social Achievements

• Launched various initiatives under the Corporate Social Values (CSV) program, impacting over 500,000 community members
• Women constitute 24% of the workforce
• Zero fatalities
• Implemented Wel-Netrutva, Wel-Shiksha, Wel-Swasthya, Welspun Super Sports Women (WSSW), Wel-Prakruti, and Wel-Krishi initiatives

Governance Achievements

• Obtained limited assurance on select sustainability indicators through Price Waterhouse Chartered Accountants LLP (PWCALLP)
• Established board-level governance for climate issues
• ESG performance is an important component of the performance evaluation system for CEO and other senior team members
• No instances of unfair practices, corruption, or discrimination in 2022-23

Climate Goals & Targets

Environmental Challenges

• Climate change impacts (extreme weather events, rising sea levels, heatwaves)
• Transition risks (changes in policies, regulations, and laws related to climate change)
• Supply chain disruptions
• Data security
• Market disruption
• Water scarcity

Mitigation Strategies

• Developing climate-resilient infrastructure
• Diversifying supply chain
• Investing in climate-resilient infrastructure, exploring insurance options, and engaging in sustainable practices
• Implementing energy-efficient systems, investing in preventive maintenance, diversifying suppliers, reviewing insurance coverage, and adopting employee heat management strategies
• Proactively anticipating and adapting to policy changes
• Investing in new carbon-efficient technologies
• Implementing robust cybersecurity measures
• Investing in advanced security technology and training
• Collaboration with experts and threat intelligence sharing
• Diversifying supplier networks and establishing alternative sourcing options
• Implementing circular water management

Supply Chain Management

Supplier Audits: 86 tier-1 suppliers assessed

Responsible Procurement

• Sustainable procurement and responsible sourcing policy
• Supplier code of conduct
• Supplier ESG assessment
• Wel-Trak 2.0 (blockchain technology for cotton traceability)

Climate-Related Risks & Opportunities

Physical Risks

• Extreme weather events
• Rising sea levels
• Heatwaves

Transition Risks

• Changes in policies, regulations, and laws related to climate change
• Adoption of emerging technologies

Opportunities

• Resource efficiency
• Resilience
• Water stress and conservation
• Renewable energy adoption

Reporting Standards

Frameworks Used: GRI Standards 2021, Business Responsibility and Sustainability Reporting (BRSR), TCFD, UN SDGs

Certifications: SA 8000, ISO 9001:2015, ISO 14001:2015, ISO 45001:2018, LEED, OEKO-TEX ® Standard 100, Global Recycled Standard, ZDHC

Third-party Assurance: Price Waterhouse Chartered Accountants LLP (PWCALLP) - Limited Assurance

UN Sustainable Development Goals

• Goal 1
• Goal 2
• Goal 3
• Goal 4
• Goal 5
• Goal 6
• Goal 7
• Goal 8
• Goal 9
• Goal 10
• Goal 12
• Goal 13
• Goal 15
• Goal 17

Various initiatives contribute to these goals as detailed in the SDG Mapping section of the report.

Sustainable Products & Innovation

• Towels with recycled polyester
• Anti-skid rugs with TPR
• Organic bed sheets
• Nanocore® anti-allergen bedding
• Goodrest organic sheeting
• Bath rugs from 100% recycled polyester

Awards & Recognition

• Golden Supplier Standards Rank A+ Award from Sheridan
• Platinum award in ‘Sustainability’ category at Apex Green Leaf Awards 2022
• Platinum award in ‘Environmental Protection’ category at Fame National Awards 2022
• Awards from NASSCOM in ‘Innovator’ category

Environmental Metrics

ESG Focus Areas

• Climate Change
• Water Security
• Waste Management
• Biodiversity
• Employee Well-being
• Diversity & Inclusion
• Community Engagement
• Ethical Governance
• Supply Chain Sustainability

Environmental Achievements

• Reduced overall GHG emissions by 4.34% compared to the previous year
• Commissioned a 30 MW solar plant
• Achieved Zero Waste to Landfill certification at Anjar site
• Procured 81% sustainable cotton (target 100% by 2030)
• Achieved 75% waste circularity
• Recycled 448.86 MT of plastic waste
• Used 77% sustainable packaging
• Increased renewable energy share to 8.32%

Social Achievements

• Initiatives in education, healthcare, and nutrition impacted over 843,960 beneficiaries
• Women constitute 26% of the workforce
• Certified as a Great Place to Work
• RISE initiative to increase women's representation in staff roles
• Wel-Netrutva program empowered women in rural areas
• Wel-Shiksha initiative digitized classrooms in government schools

Governance Achievements

• Established the Welspun ESG Compass for real-time ESG data monitoring
• Third-party ESG data assurance from BDO India LLP
• Implemented double materiality assessment
• Achieved DJSI ESG rating of 66 (top 3% globally in Home Textiles)

Climate Goals & Targets

Environmental Challenges

• Supply chain disruptions due to climate events and geopolitical tensions
• Water scarcity
• Waste management
• Biodiversity loss
• Gender inequality
• Climate change related risks (physical and transition)

Mitigation Strategies

• Developed alternative sourcing strategies
• Implemented water conservation measures (STP, ETP, rainwater harvesting)
• Zero Waste to Landfill initiatives
• Biodiversity action plans
• RISE initiative for gender equality
• Climate risk assessment and scenario analysis
• Investment in renewable energy
• Supplier ESG programs and assessments

Supply Chain Management

Supplier Audits: 86 Tier 1 suppliers assessed (FY24)

Responsible Procurement

• Supplier Code of Conduct
• Sustainable sourcing requirements
• ESG criteria in supplier selection
• Sedex platform for supplier onboarding

Climate-Related Risks & Opportunities

Physical Risks

• Extreme weather events
• Rising sea levels
• Heatwaves
• Ecosystem disruption

Transition Risks

• Policy and legal risks
• Market risks
• Reputation risks
• Technology risks
• Water stress

Opportunities

• Adoption of emerging technologies
• Development of sustainable products
• Resource efficiency
• Market expansion

Reporting Standards

Frameworks Used: GRI Standards, TCFD recommendations, CDP, UN SDGs, BRSR, NGRBC, SASB

Certifications: Zero Waste to Landfill (Anjar), ISO 9001:2015, ISO 14001:2015, ISO 45001:2018, Great Place to Work

Third-party Assurance: BDO India LLP (limited assurance)

UN Sustainable Development Goals

• Goal 1
• Goal 2
• Goal 3
• Goal 4
• Goal 5
• Goal 6
• Goal 7
• Goal 8
• Goal 9
• Goal 10
• Goal 12
• Goal 13
• Goal 15
• Goal 17

The report maps various initiatives to relevant SDGs.

Sustainable Products & Innovation

• Dreamtec sheets
• SPACES organic bedsheets
• Nanocore® anti-allergen bedding
• Good Rest collection
• Products using recycled polyester

Awards & Recognition

• DJSI ESG rating of 66
• Sustainalytics rating of 11.5 (Low Risk)
• Great Place to Work certification
• Other awards listed in the report