FOSECO INDIA LIMITED
Climate Impact & Sustainability Data (2022, 2023)
Reporting Period: 2022
Environmental Metrics
Total Carbon Emissions:4844 tCO2e (Scope 1 & 2)
Scope 1 Emissions:2133 tCO2e
Scope 2 Emissions:2711 tCO2e
Scope 3 Emissions:Not disclosed
Renewable Energy Share:0.65%
Total Energy Consumption:29,653.67 GJ
Water Consumption:41,009 KL
Waste Generated:204.42 tons
Carbon Intensity:Not disclosed
ESG Focus Areas
- Health, safety and environment
- Innovation
- Sustained performance & quality
- Disaster recovery
- Data Security, Privacy and Cyber security
Environmental Achievements
- Reduced Overall CO2 emissions by 51% against a target of 25% by 2025.
- Reduced Solid waste by 45% over 2019 in 2022
- Installed 565kWP solar power plant in Pune.
Social Achievements
- Launched sustainability drive with defined targets to reduce its environmental footprint.
- Implemented specific measures to reduce its CO2 emissions, in terms of energy efficiency and neutralization of secondary energy through green energy contracts.
- Continuous improvement programs for employees’ health and safety.
Governance Achievements
- Business Responsibility performance reviewed annually by the Board of Directors.
- CSR Committee and Stakeholders Relationship Committee met to review Business Responsibility performance.
- Company follows the Anti-Bribery and Corruption Policy (ABC Policy) framed by its Group Parent Company – Vesuvius plc.
Climate Goals & Targets
Long-term Goals:
- Net Zero Carbon by 2050
Medium-term Goals:
- Reduce CO2 Emissions by 50% by 2035
Short-term Goals:
- Reduce CO2 emissions by 25% by 2025 over 2019 baseline
- Reduce solid waste by 25% by 2025 over 2019
- Reduce recycled raw materials by 7% by 2025 over 2019
- Reduce waste water by 25% by 2025 over 2019
Environmental Challenges
- Non-compliance with safety and environmental concerns by employees
- Non-awareness of hazardous nature of chemicals
- Not following COVID-19 safety measures
- Risk of customer being lost in the course of business
- Business interruption due to natural calamities
- Risk of confidential data leakage via cyber-attack
Mitigation Strategies
- SWIs (Safety Work Instructions) are defined and implemented.
- MSDS (Material Safety Data Sheet) and Training is in place to create awareness
- Detailed SOP for COVID-19 protocols has been rolled out
- Supply disruptions managed through supplying from alternate sources
- Financial losses to assets mitigated through insurance
- All USB access and drives are restricted by IT support
- Restricted data access, data transfer control & data encryption
Supply Chain Management
Supplier Audits: Not disclosed
Responsible Procurement
- Currently the group’s sustainable sourcing guidelines are followed by Foseco India as well.
Climate-Related Risks & Opportunities
Physical Risks
- Not disclosed
Transition Risks
- Not disclosed
Opportunities
- Not disclosed
Reporting Standards
Frameworks Used: ISO 9001:2015, ISO 14001:2015, ISO 45001:2018
Certifications: ISO 9001:2015, ISO 14001:2015, ISO 45001:2018
Third-party Assurance: Lloyd’s Register Group Limited
UN Sustainable Development Goals
- Not disclosed
Not disclosed
Sustainable Products & Innovation
- Energy efficient products
Awards & Recognition
- Not disclosed
Reporting Period: 2023
Environmental Metrics
Total Carbon Emissions:2473 tCO2e/year (Scope 1) + 3092 tCO2e/year (Scope 2, neutralized)
Scope 1 Emissions:2,473 tCO2e/year
Scope 2 Emissions:3,092 tCO2e/year
Scope 3 Emissions:Currently Scope 3 emissions are not considered in the calculation of air emission.
Renewable Energy Share:5.4%
Total Energy Consumption:55,651.80 GJ/year
Water Consumption:47,671 KL/year
Waste Generated:168.69 tons/year
Carbon Intensity:0.152 Metric tons of CO2 equivalent per Metric Tons of products packed for shipment in FY2023
ESG Focus Areas
- Health, safety, and environment
- Innovation
- Sustained performance & quality
- Disaster recovery
- Data Security, Privacy and Cyber Security
Environmental Achievements
- Reduced 52% of Overall CO2 emissions against target of 20% by 2025. - By green energy certification and Scope 1 reduction projects.
- Reduction in Solid waste: 74% over 2019 in 2023
- Use of Recycled raw materials are at 12.7% of total raw materials consumed in 2019
- Waste-water KPI is exempted as the waste water is treated in ETP followed by Reverse Osmosis and Ultra filtration and reused for green belt development. Part of treated waste-water is also recycled back into process hence the waste water generation is nullified.
Social Achievements
- Continuous improvement programs for employees’ health and safety
- Launched sustainability drive with defined targets to reduce its environmental footprint in terms of CO2, Energy, Solid waste and waste water
- Invested in its own green energy source, a solar power project in Pune, with a capacity of 565 KWP
Governance Achievements
- Business Responsibility performance is reviewed by the Board of Directors on an annual basis
- CSR Committee met one time, while the Stakeholders Relationship Committee of Directors met four times to review and assess the Company’s performance in terms of Business Responsibility
Climate Goals & Targets
Long-term Goals:
- Net Zero Carbon by 2050
Medium-term Goals:
- Not disclosed
Short-term Goals:
- Reduction by 20% of CO2 emissions by 2025 over 2019 baseline
- Reduction of 25% relative solid waste by 2025 over 2019
- Ensuring the percentage of recycled raw materials over raw materials above 7% by 2025 over 2019
- Reduction of 25% relative wastewater by 2025 over 2019
Environmental Challenges
- Non-compliance with safety and environmental concerns by employees
- Non-awareness of hazardous nature of chemicals
- Customer dissatisfaction or loss due to unfulfilled expectations
- Business interruption due to natural calamities like earthquakes, cyclones, floods etc.
- Risk of confidential data leakage via cyber-attack, USB drives/flash drives
- Exposure of Company data because of work from home
Mitigation Strategies
- SWIs (Safety Work Instructions) are defined, implemented and periodically audited. Lagging and leading indicators are being tracked as per the robust process. Additionally, employee safety audits are carried out.
- Awareness created through trainings. MSDS (Material Safety Data Sheet) available at place of use
- Handling of CCARS (Customer Corrective Action Request) with 8D Approach (Practical Problem-Solving Methodology for identifying root cause and implementing corrective actions).
- Supply disruptions managed through supplying from alternate sources including global sources. Financial losses to assets mitigated through insurance.
- All USB access and drives are restricted by IT support
- Restricted data access, data transfer control and data encryption to mitigate associated risk.
- Security Awareness Program and Security Risk Assessment done continuously.
- Information Security Governance with Security Policy on Password is in place.
Supply Chain Management
Supplier Audits: 51%
Responsible Procurement
- Currently the group’s sustainable sourcing guidelines are followed by Foseco India Limited.
Climate-Related Risks & Opportunities
Physical Risks
- Not disclosed
Transition Risks
- Not disclosed
Opportunities
- Not disclosed
Reporting Standards
Frameworks Used: ISO 9001:2015, ISO 14001:2015, ISO 45001:2018
Certifications: ISO 9001:2015, ISO 14001:2015, ISO 45001:2018
Third-party Assurance: Lloyd's Register Group Limited
UN Sustainable Development Goals
- Not disclosed
Not disclosed
Sustainable Products & Innovation
- Insta Project- Supply of Machines for instant mixing of premix in powders with water at customers
Awards & Recognition
- Not disclosed