Climate Change Data

Environmental Metrics

ESG Focus Areas

• Sustainable Products
• Sustainable Operations
• Employee Growth & Diversity
• Sustainable Supply Chain
• Community Development
• Governance & Sustainable Growth

Environmental Achievements

• ~90% of waste recycled
• 24 MN units from Renewable Sources
• 55000+ plant plantations
• various projects on energy conservations which resulted in more than 5 lakhs KWh of saving
• zero liquid discharge initiatives

Social Achievements

• K30.1 MN CSR expenditure
• 270+ Students enrolled in the Varroc academy
• 67 events organised, over 3 lakh citizens participated in community engagement
• 275 students enrolled under the Learn and Earn Scheme at Varroc Academy
• 100% monthly attendance by our 152 students, in the fiscal year 2022-2023
• zero life loss operations historically

Governance Achievements

• formalised our ESG & Sustainability framework
• aligned with Global Reporting Initiative (GRI), Sustainability Accounting Standards Board (SASB), and the United Nations Sustainable Development Goals (SDGs)

Climate Goals & Targets

Environmental Challenges

• supply chain constraints
• the ongoing war in Ukraine
• rising input costs due to supply chain pressures resulting from the Russia-Ukraine war
• Fuel price hikes

Mitigation Strategies

• divesting its 4-wheeler lighting system operations in Americas & Europe
• focus on emerging areas such as electric vehicle components, electronics, and connectivity
• cost optimisation, free cash flow and debt reduction
• developing world class products and services
• enhancing and leveraging its global footprint

Supply Chain Management

Supplier Audits: 100%

Responsible Procurement

• Sustainable sourcing

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: GRI, SASB, UN SDGs

Certifications: IATF 16949, ISO 14001, ISO 45001

UN Sustainable Development Goals

• Goal 6

ensure availability and sustainable management of water and sanitation for all

Awards & Recognition

• appreciation NIUA at the DHARA summit

Environmental Metrics

ESG Focus Areas

• Energy and GHG Emissions
• Employee Health and Safety
• Labor Management and Human Rights
• Sustainable Supply Chain
• Diversity, Equity & Inclusion
• Regulatory Compliances
• Business Ethics & Transparency

Environmental Achievements

• Installation of rainwater harvesting structure, ETPs, STPs, LED lightings, improvement of health management systems
• More than 1.4 million kWh units saved through energy efficiency measures
• Total RE generation in FY24 was more than 18 million kWh
• Reduction in effluent discharge through ZLD implementation
• More than 10% of water recycled/ reused

Social Achievements

• Implementation of a robust occupational health and safety management systems including ISO 45001:2018 and Environmental Management Systems ISO 14001:2018
• Various CSR initiatives focusing on education, environmental restoration and sports training and welfare for youth athletes

Governance Achievements

• Established a strong corporate governance structure and mechanisms to ensure that business operations are conducted in an ethical, transparent and sustainable manner, including protecting stakeholders’ interests.
• ESG Steering Committee responsible for decision making on sustainability related issues

Climate Goals & Targets

Environmental Challenges

• GHG emissions from manufacturing
• Maintaining high regulatory compliance standards

Mitigation Strategies

• Implementing strategic initiatives and working with plants to set and work towards energy conservation and renewable energy targets
• Evaluation of processes and assessment for compliance with relevant laws and regulations

Supply Chain Management

Supplier Audits: 100%

Responsible Procurement

• Supplier Code of Conduct

Climate-Related Risks & Opportunities