Climate Change Data

Cosmo First Ltd.

Climate Impact & Sustainability Data (2020-21, 2023-24, FY2021-22)

Reporting Period: 2020-21

Environmental Metrics

Total Carbon Emissions:1,40,602 tCO2e/year (unaudited)
Scope 1 Emissions:6,665 tCO2e/year (unaudited)
Scope 2 Emissions:49,500 tCO2e/year (unaudited)
Scope 3 Emissions:Not disclosed
Renewable Energy Share:Not disclosed
Total Energy Consumption:Not disclosed
Water Consumption:Not disclosed
Waste Generated:Not disclosed
Carbon Intensity:Not disclosed

ESG Focus Areas

  • Environment
  • Social
  • Governance

Environmental Achievements

  • 50% reduction in Scope 1 carbon emissions
  • 5.0% reduction in Scope 2 carbon emissions
  • 95% of water treated at Cosmo
  • INR 35+ crores initial capital investments to reduce environmental impact
  • Waste reduction of INR 2,50,000

Social Achievements

  • Total spending on CSR activities: INR 3+ crores
  • Lives touched during the fight against Covid-19: 2,50,000+
  • 1,268 training man-hours
  • Launched Cosmo Digi Pathshala, an online learning platform

Governance Achievements

  • 66% Independent Directors in Cosmo Films
  • Robust Risk Management
  • Active Stakeholder Engagement
  • Professional Management
  • Separate Independent Directors’ Meetings
  • 4 Women Directors on the Board

Climate Goals & Targets

Long-term Goals:
  • Not disclosed
Medium-term Goals:
  • Not disclosed
Short-term Goals:
  • Not disclosed

Environmental Challenges

  • Not disclosed
Mitigation Strategies
  • Not disclosed

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement
  • Promoting local suppliers; ~50% of wooden pallets and plastic cups from recycled materials

Climate-Related Risks & Opportunities

Physical Risks
  • Not disclosed
Transition Risks
  • Not disclosed
Opportunities
  • Not disclosed

Reporting Standards

Frameworks Used: GRI Standards: Core option

Certifications: ISO 9001:2015, ISO 14001:2015, BRC Global Standard for Packaging and Packaging Materials

Third-party Assurance: Internal assurance by Cosmo Films Limited

UN Sustainable Development Goals

  • Not disclosed

Not disclosed

Sustainable Products & Innovation

  • Recyclable Laminates
  • Transparent Antifog Film
  • Direct Thermal Printable Film
  • 100% Opaque Synthetic Paper
  • Antimicrobial Thermal Lamination Film
  • High Gloss Metalized Label Film
  • High Tear Resistant Synthetic Paper (CSP)
  • COSMOTEX AVB
  • ECOGREEN CN
  • WETOFAST LD
  • MICROENZ BL
  • MICROENZ MD
  • MICROENZ BS

Awards & Recognition

  • Best exporter awards in Aurangabad region 2021
  • WordStar Packaging Award 2021
  • WorldStar Global Packaging Award 2021
  • SIES SOP Star Awards 2020
  • CII National 5S Excellence Awards 2020
  • IFCA Star Awards 2020
  • Best Employer Award at the 14th Aurangabad Employer Branding Awards 2019-2020
  • Aurangabad Manufacturing Leadership Award 2019-2020
  • Business Transformation Awards 2019-2020

Reporting Period: 2023-24

Environmental Metrics

Total Carbon Emissions:24843 tCO2e/year (Scope 1) and 172537 tCO2e/year (Scope 2)
Scope 1 Emissions:24843 tCO2e/year
Scope 2 Emissions:172537 tCO2e/year
Renewable Energy Share:15% (target 50%+ by FY25)
Water Consumption:671677 m3/year
Waste Generated:9,537.57 tons/year
Carbon Intensity:1.393759224 MTCO2e/MT

ESG Focus Areas

  • Environmental
  • Social
  • Governance

Environmental Achievements

  • Reduced carbon emission by 15%
  • 45% of water treated at Cosmo. Planning towards Zero Liquid Discharge.
  • 50%+ usage of solar power as a source of energy in plants by FY25.
  • Recycling of manufacturing waste for further film Production (about 95%).
  • Introduced monolayer structures in the Cast Polypropylene (CPP) and Biaxially Oriented Polypropylene (BOPP) lines to minimise material usage and waste.

Social Achievements

  • Total spending on CSR activities: ₹6.03 Cr
  • Lives touched through CSR: 7,00,000
  • No: of saplings planted under CSR with 90%+ survival rate: 10,00,000
  • Cosmo Basic English Learning Capsule benefitted 6191 students in 16 rural schools.
  • Computer Operation & Digital Skill Building program benefitted 8477 students with 25 Computer labs

Governance Achievements

  • 70% Independent Directors in Cosmo First
  • 1 Number of Women Director(s)
  • 6 Active Committees
  • Robust Risk Management
  • Active Shareholder Engagement

Climate Goals & Targets

Medium-term Goals:
  • Increase renewable power consumption to more than 60% by FY26
  • Reduce carbon footprint by 1.40 lakhs MT equivalent Co2 emission by FY 26
  • Reduce waste generation by 5% by FY 26
Short-term Goals:
  • Reduce water consumption
  • Increase renewable power consumption to more than 50% by FY25
  • Reduce carbon footprint by 1.20 lakhs MT equivalent Co2 emission by FY 25

Environmental Challenges

  • Excess supply in BOPP & BOPET industry due to commissioning of several new production lines, creating margin pressures.
  • Uneven monsoon and elevated food inflation resulting in subdued rural income.
Mitigation Strategies
  • Strategic emphasis on speciality films (64% of revenue in FY24) to withstand margin pressures.
  • Focus on higher speciality sales, meaningful diversification and growth opportunities in other business verticals.
  • Cost rationalization initiatives.
  • 50% capacity expansion planned in phases starting from FY25 to meet increasing demand for flexible packaging.

Supply Chain Management

Responsible Procurement
  • Sustainable sourcing
  • Supplier code of conduct

Climate-Related Risks & Opportunities

Sustainable Products & Innovation

  • Monolayer films
  • Oxo-Biodegradable Films
  • Water-Based Coatings
  • Heat-resistant BOPP films
  • UV-stabilized Synthetic Paper
  • Ultra-High Barrier Films

Awards & Recognition

  • SIES SOP Star Award
  • Forbes Asia Best Under a Billion Companies Awards 2023
  • IFCA Star Awards 2023
  • Most Enterprising Business Award
  • Top 100 D2C Retail Business of the Year (Zigly)
  • Top 10 Companies from India in the Forbes Asia Best Under A Billion 2022 list
  • ET Leadership Excellence award

Reporting Period: FY2021-22

Environmental Metrics

ESG Focus Areas

  • Environment
  • Social
  • Governance

Environmental Achievements

  • 5% reduction in carbon emission scope 1
  • 2% reduction in carbon emission scope 2
  • Recycling of manufacturing waste for further film Production (about 95%)
  • INR 10 cr initial investment to reduce environment impact
  • 35% of water treated at Cosmo
  • Rain water harvesting
  • All plants use some amount of solar power as a source of energy

Social Achievements

  • Education to 20k+ students
  • 2.5Lakh lives touched in the fight against COVID-19

Governance Achievements

  • Strong Independent board with 66% of Independent Directors
  • Established risk management practices
  • Active Whistle Blower Policy

Climate Goals & Targets

Long-term Goals:
  • A Company with diversified businesses with target 20% CAGR topline growth in next 3 years coupled with commensurate return growth
Medium-term Goals:
  • Plan to demerge Petcare vertical into separate company in medium term
  • Target 150 experience centers in next a couple of years
Short-term Goals:
  • Grow Speciality portfolio by volume from 64% in FY22 to 80%+ by 2024
  • 20% growth targeted from BOPET line (from H2’FY23)

Environmental Challenges

  • Pressure on margins in flexible packaging industry due to commissioning of new production lines, causing temporary imbalance in demand-supply.
  • Margin pressure in overseas subsidiaries due to increased raw material costs and weakening of foreign currencies against the US dollar.
Mitigation Strategies
  • Sustained focus on speciality films (65% volume) and ongoing improvement of internal efficiencies helped achieve higher EBITDA despite margin pressure.
  • Expectation that demand-supply balance will be restored over the next few quarters with strong organic growth in domestic demand and geopolitical normalcy returning in Europe.

Supply Chain Management

Climate-Related Risks & Opportunities

Sustainable Products & Innovation

  • Offer mono-material poly-olefin films for ease of recycling
  • Designed heat resistant BOPP films replacing BOPET; giving last push to creation of mono-material structures
  • UV stabilized Synthetic Paper can be used to replace PVC in outdoor promotional applications for duration requirements up to one year
  • Use of Water Based Coatings
  • Offer Oxo-Biodegradable Films
  • Offer a suitable substitute for aluminum foil in form of its Ultra-High Barrier Films

Awards & Recognition

  • National Award for Excellence in CSR & Sustainability -2015
  • Asia Pacific Enterprise Leadership Award -2013
  • Africa CSR Leadership Award -2012
  • CII National Level Scale award for Supply Chain and Logistics Excellence
  • IFCA Star Award
  • SIES SOP Star Awards
  • CII National 5S Excellence Awards 2020
  • Best exporter awards in Aurangabad region
  • WordStar Packaging Award 2021
  • WorldStar Global Packaging Award 2021
  • Best Employer Award at the 14th Aurangabad Employer Branding Awards
  • Award for “20 Most Promising Chemical Companies in India 2022”