Climate Change Data

Environmental Metrics

ESG Focus Areas

• Climate change
• Decarbonisation
• Gender diversity
• Employee well-being
• Community impact
• Supply chain sustainability
• Corporate governance

Environmental Achievements

• Some cement companies reduced emission intensity on a CAGR basis.
• Real estate sector significantly outperformed the average share of renewable energy (21.8%).
• Cement sector showed a moderately good water-recycling level.

Social Achievements

• Increased discussion and implementation of gender diversity at highest corporate echelons.
• Employee well-being and community impact came to the forefront of corporate discussions after the Covid-19 pandemic.

Governance Achievements

• Improved ESG-related disclosures aligned with global reporting frameworks (91% alignment with GRI).

Climate Goals & Targets

Environmental Challenges

• Inadequate action on climate change; insufficient factoring of climate risk.
• Data gaps in ESG reporting; lack of standardization, materiality, credibility, and data quality.
• Most companies lack a roadmap to achieve Net Zero, and those that do lack short- or medium-term targets and tracking.
• Decentralized ESG implementation is inconsistent.
• Lack of stewardship and fiduciary persuasion to improve ESG quotient among financial institutions.
• Limited awareness of ESG, lack of senior management buy-in, poor sustainability tracking across the supply chain, low perceived returns on ESG initiatives, and non-availability of cost-effective technologies.

Mitigation Strategies

• Government initiatives: 2070 Net Zero goal, sovereign green bond issuance, ambitious renewable energy plans.
• Regulatory improvements in ESG-related disclosures.
• BRSR introduction for mandatory non-financial information disclosure.
• RBI's emphasis on climate-related financial risk assessment.
• Incentivizing ESG compliance, making India attractive to global ESG investors.
• Focus on lowering the impact of hard-to-abate sectors.
• Collaborative approach between public and private sectors (blended finance).
• Capacity building and awareness through training and education.
• Internal carbon pricing.

Supply Chain Management

Climate-Related Risks & Opportunities

Physical Risks

• Wildfire, flood, sea-level rise, storms

Reporting Standards

Frameworks Used: GRI, SASB, TCFD, BRSR

Environmental Metrics

ESG Focus Areas

• Climate Change
• Water Security
• Renewable Energy
• GHG Emission Reduction

Environmental Achievements

• Implemented solar rooftops energy solutions at four plants with over 4 MWp installed capacity, planning to add 7 MWp more.
• 100% aluminum waste recycling in conductor division.
• 100% plain copper scrap recycling in cable division.
• Reduced energy consumption by closing one shift operation at lubricating oil plant without affecting production volume.
• Developed biodegradable transformer oil with lower carbon footprint.
• Developed PTFE additives from recycled scrap.
• Replaced wooden packaging drums with reusable steel/hybrid drums.

Social Achievements

• Not disclosed

Governance Achievements

• Established a three-tier governance architecture for climate risk management: Board of Directors, Sustainability Steering Committee, and Sustainability Champions.
• Voluntarily participated in CDP Climate Change disclosure 2022.

Climate Goals & Targets

Environmental Challenges

• High carbon-intensive raw materials.
• Keeping pace with demand for low-carbon products.
• Increased energy consumption costs.
• Reduced demand for lubricants due to EV adoption.
• Changes in consumer preferences towards low-carbon products.
• Increased raw material costs.
• Access to financing and insurance affected by climate and environmental risks.
• Increased operational costs due to environmental legislation.
• Implementation of carbon tax.
• Exposure to litigation.
• Enhanced emissions reporting obligations.
• Increased severity of extreme weather events.
• Water scarcity.

Mitigation Strategies

• Implementing 70 carbon emission reduction projects.
• Internal Carbon Pricing (ICP) mechanism with a target of US$15-20 per ton of CO2e.
• Hydrological and topological studies for water conservation and aquifer recharge.
• Zero Liquid Discharge (ZLD) at all Cable & Oil Business plants.
• Wastewater treatment, recycling, and reuse.
• Renewable energy adoption.
• Energy efficiency improvements.
• Sustainable product development.
• Supply chain engagement on carbon reduction plans.
• Participation in renewable energy programs.

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement

• Discussions and webinars with suppliers to promote sustainable practices.

Climate-Related Risks & Opportunities

Physical Risks

• Increased severity of extreme weather events (cyclones, droughts, floods)
• Coastal and inland flooding
• Extreme heat
• Water scarcity

Transition Risks

• High carbon-intensive raw materials
• Demand for low-carbon products
• Increased energy costs
• Reduced demand for lubricants due to EV adoption
• Changes in consumer preferences
• Increased raw material costs
• Access to financing and insurance
• Environmental legislation
• Carbon tax
• Litigation
• Emissions reporting obligations

Opportunities

• Customer preference for low-carbon products
• Manufacture of low-carbon footprint products
• Increased product longevity
• Renewable energy programs
• Energy efficiency measures
• Resource substitution and diversification
• Recycling technologies
• Resilient supply chain
• Alternate energy sources
• Policy incentives
• Reduced energy demand
• Carbon markets
• Innovative power purchase contracts
• Efficient transport and production processes
• Building efficiency improvements
• Reduced water usage
• New technologies for resource intensity reduction

Reporting Standards

Frameworks Used: TCFD

Certifications: Null

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

• SDG 13 (Climate Action)

Not disclosed

Sustainable Products & Innovation

• High performance biodegradable transformer oil
• AdBlue
• PTFE additives
• High Temperature Low Sag Conductors (HTLS)

Awards & Recognition

• Not disclosed

Environmental Metrics

ESG Focus Areas

• Climate Change
• Renewable Energy
• Water Management
• Waste Management
• Human Capital
• Supply Chain Sustainability
• Community Engagement
• Governance

Environmental Achievements

• Commissioned first wind-solar hybrid power project (3.30 MW wind turbine and 2.80 MWp solar energy), expected to generate approx. 15 million units annually and reduce GHG emissions by over 10,000 tCO2e per year.
• Increased share of renewable energy in overall energy mix from 3% in FY 2021-22 to 4% in FY 2022-23.
• Calculated Scope 3 GHG emissions for the first time.
• Implemented 72,000 KL Rain Water Harvesting (RWH) through aquifer recharge project at Khatalwada Cable plant.
• Published EPD (Environment Product Declaration) for four conductor products.
• Partnered with organizations for energy audits at plants, identifying 72 projects with potential to save approx. 8,500 tCO2e GHG emissions per year.
• Registered as ‘Brand Owner’ under CPCB EPR regulation.

Social Achievements

• Improved gender diversity from 5.8% in FY 2021-22 to 8.3% in FY 2022-23.
• Actively engaged with local communities through educational programs, environmental initiatives, and social development projects.
• Implemented Diversity, Equity and Inclusion (DEI) policy.
• Launched Saraswati Trainee program for women employees.
• Awarded ‘Top 50 Happy Companies to work for’ and ‘Best Company with innovative HR practices’ awards.

Governance Achievements

• Submitted first BRSR (Business Responsibility and Sustainability Report).
• Completed first full-version climate-related disclosure to CDP.
• Implemented robust whistleblower policy.
• Implemented Supplier Code of Conduct (SCoC) and Supplier Grievance Handling Policy.

Climate Goals & Targets

Environmental Challenges

• Supply chain disruptions due to climate events (cyclones).
• Potential impact of carbon tax and CBAM.
• Increased cost of raw materials due to supply disruptions.
• Reduced demand for lubricants due to the rise of EVs.

Mitigation Strategies

• Design strengthening of plants, covered sheds, higher floor levels, higher capacity pumps for water evacuation, safety equipment and training.
• Commissioning of wind-solar hybrid energy project and plans to increase renewable energy share.
• Business continuity plan (BCP) to address disruptions.
• Import substitution strategies and focus on local suppliers.
• Reducing carbon footprint of products.

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement

• Supplier Code of Conduct
• Sustainable Procurement Policy
• Regular supplier assessments
• Integration of social and environmental clauses into contracts
• Focus on local suppliers and MSMEs

Climate-Related Risks & Opportunities

Physical Risks

• Extreme weather events (cyclones)
• Reduced production capacity due to extreme weather

Transition Risks

• Carbon tax
• CBAM

Opportunities

• Reducing energy costs by increasing renewable energy share
• Developing energy-efficient products

Reporting Standards

Frameworks Used: GRI, BRSR, TCFD, UN SDGs

Certifications: ISO 9001, ISO 14001, ISO 45001, ISO 17025:2017 (NABL)

Third-party Assurance: DNV Business Assurance India Private Limited

UN Sustainable Development Goals

• Goal 7 (Affordable and Clean Energy)
• Goal 9 (Industry, Innovation and Infrastructure)
• Goal 12 (Responsible Consumption and Production)
• Goal 13 (Climate Action)
• Goal 8 (Decent Work and Economic Growth)

Initiatives contribute to these goals through renewable energy adoption, sustainable product development, waste reduction, GHG emission reduction, and community engagement.

Sustainable Products & Innovation

• HTLS e-beam cured covered conductors
• Solid Sector shaped aluminium conductors
• ACCC-ULS conductor
• APAR power-ZAD conductors
• POWEROIL NE/POWEROIL NE PREMIUM transformer oils
• E-beam (HR FR EBXL) wires

Awards & Recognition

• Top 50 Happy Companies to work for
• Best Company with innovative HR practices
• Most Prominent Contributors to innovation (Kushal Desai)

Environmental Metrics

ESG Focus Areas

• Environmental
• Social
• Governance

Environmental Achievements

• Increased renewable energy consumption from 4% in FY 2022-23 to 7.3% in FY 2023-24 by commissioning a wind-solar hybrid project.
• Conducted energy audits at all plants and implemented most recommendations to reduce energy intensity.
• 4% reduction in energy intensity from 0.56 MWH/MT to 0.54 MWH/MT of production.

Social Achievements

• Certified as a Great Place to Work from February 2024 to February 2025.
• Increased employee diversity from 8.3% in FY 2022-23 to 9.3% in FY 2023-24.
• Significant reduction in LTIFR (Lost Time Injury Frequency Rate) from 1.94 to 1.27 and total recordable work-related injuries.

Governance Achievements

• Established Corporate Social Responsibility and Sustainability (CSR&S) Committee for overseeing sustainability-related issues.
• Implemented a policy on Anti-Corruption & Anti-Bribery (ACAB).

Climate Goals & Targets

Environmental Challenges

• Higher costs of energy due to increased production, electricity grid rates, and fossil fuel prices.
• Increased severity of extreme weather events (cyclones) causing disruptions.
• Carbon tax and potential financial impact of the Carbon Border Adjustment Mechanism (CBAM).

Mitigation Strategies

• Increasing share of Renewable Energy (RE): Commissioning of wind-solar hybrid projects and planning for two more.
• Conducting energy audits and implementing recommendations.
• Design-strengthening during construction, covered sheds, higher capacity pumps for water evacuation, and detailed Climate Risk Assessment.

Supply Chain Management

Supplier Audits: 310 suppliers covered in FY 2023-24 through outreach program

Responsible Procurement

• Supplier Code of Conduct
• Vendor assessment/audit during vendor on-boarding

Climate-Related Risks & Opportunities

Physical Risks

• Extreme weather events (cyclones)

Transition Risks

• Carbon tax
• CBAM

Opportunities

• Development of energy-efficient products
• Increased demand for renewable energy cables and conductors

Reporting Standards

Frameworks Used: National Guidelines on Responsible Business Conduct (NGRBC)

Certifications: ISO 9001, ISO 14001, ISO 45001/OHSAS 18001, ISO 27001, NABL (ISO 17025:2017)

Third-party Assurance: DNV Business Assurance India Private Limited (Planned)

UN Sustainable Development Goals

• Not disclosed

Not disclosed

Sustainable Products & Innovation

• Fire resistant biodegradable transformer oil
• Nanofluids for engine oil applications

Awards & Recognition

• Great Place to Work