Shanthi Gears Limited
Climate Impact & Sustainability Data (2022-03 to 2023-03, 2023-04 to 2024-03)
Reporting Period: 2022-03 to 2023-03
Environmental Metrics
Total Carbon Emissions:2414 tCO2e/year
Scope 1 Emissions:250 tCO2e/year
Scope 2 Emissions:2163 tCO2e/year
Renewable Energy Share:80%
Total Energy Consumption:53259 GJ/year
Water Consumption:39032 KL/year
Waste Generated:2420.83 tons/year
Carbon Intensity:5 tCO2e/crore INR
ESG Focus Areas
- Environmental Sustainability
- Employee Well-being
- Community Development
- Occupational Health and Safety
- Responsible Supply Chain
Environmental Achievements
- Reduced energy consumption by implementing various energy-saving measures (eliminating idle running motors, replacing standard motors with energy-efficient ones, improving natural lighting, modifying control panels, downsizing motors, reducing compressor loading cycles). Saved around 1,20,000 units.
- Generated 109.24 lakh units of electricity from 9 windmills with a total capacity of 6.7 MW for captive production.
- Converted 70% of forklifts from diesel to electric operation.
- Implemented a hazardous waste storage yard with advanced safety systems.
Social Achievements
- Conducted various people development programs like TII Edge, TII Thrive, and Grow Within to enhance leadership capabilities and career growth.
- Organized blood donation camp (76 employees participated), eye screening camp (223 beneficiaries), and celebrated various festivals with employees.
- Undertook CSR projects: renovated government primary school classrooms, constructed two classrooms for a government high school, distributed garbage battery vehicles.
Governance Achievements
- Maintained high standards of corporate governance.
- Established a vigil mechanism/Whistle Blower policy.
- Complied with applicable Secretarial Standards.
Climate Goals & Targets
Environmental Challenges
- Geo-political tension causing energy price surges, rising inflation, and disruptions to global supply chains.
- Challenging economic environment impacting growth.
- Attrition rate of 20% (target was 14%).
Mitigation Strategies
- Focused on lean initiatives and improved production levels.
- Made capital investments for technological upgradation.
- Strengthened leadership capabilities and grew revenue steadily through team empowerment.
- Implemented various energy-saving measures.
- Formulating a sustainable supply chain program to assess social and environmental practices of suppliers.
Supply Chain Management
Supplier Audits: 100% (RM & OSP)
Responsible Procurement
- Encouraging vendors/service providers to follow ISO 9001 and ISO 14001.
- Formulating a sustainable supply chain program to assess social and environmental practices of suppliers.
- Engaging with local suppliers and service providers.
Climate-Related Risks & Opportunities
Opportunities
- Development of energy-efficient products
- Transition to low carbon economy
Sustainable Products & Innovation
- Energy-efficient batching plant gearbox
- High-speed gearbox noise and performance checking test bed
- Products with optimized weight
Awards & Recognition
- Gold Award from QCFI, CCSHE2022 Event - Tamil Nadu Chapter
- Silver Award from ABK-AOTS DOSOKAI
- Silver Award for Excellence in Environment, Health and Safety Practices from Safety Engineers Association (SEA), Chennai Chapter
Reporting Period: 2023-04 to 2024-03
Environmental Metrics
Total Carbon Emissions:8244 tCO2e/year
Scope 1 Emissions:375.7 tCO2e/year
Scope 2 Emissions:7868.4 tCO2e/year
Renewable Energy Share:45%
Total Energy Consumption:77,160.91 GJ/year
Water Consumption:39,344.55 KL/year
Waste Generated:6750.38 metric tons/year
Carbon Intensity:0.0000015 metric tons of CO2 equivalent/ turnover in crores
ESG Focus Areas
- Climate Strategy
- Occupational Health & Safety
- Legal Compliance
- Corporate Governance
- Community Development & Engagement
- Training talent and Skill Development
- Waste Management
- Water and Wastewater Management
- Sustainable Supply Chain
- Risk & Crisis Management
- Cybersecurity and Data Protection
- Product Stewardship
Environmental Achievements
- Reduced energy intensity by 8%
- Achieved 45% renewable energy share
- Reduced water intensity by 17%
- Reduced GHG emissions by approximately 8,824 tons of CO2e
Social Achievements
- Achieved zero LTIFR
- Implemented various employee well-being measures (health insurance, accident insurance, etc.)
Governance Achievements
- Improved production efficiency by 58%
- ESG roadmap is on track to achieve long-term targets
Climate Goals & Targets
Medium-term Goals:
- Reduce energy intensity by 30% by 2030
- Achieve 75% renewable energy by 2030
- Reduce water intensity by 50% by 2030
- Reduce waste intensity by 50% by 2030
- Increase employee volunteering hours to 8 hours/employee/year by 2030
- Achieve 5 man days of ESG training per employee per year by 2030
- Achieve and sustain Zero LTIFR by 2030
- Achieve 90% employee retention rate in management and supervisory roles by 2030
- Achieve 90% employee engagement score by 2030
- Increase women in management and supervisory roles to 20% by 2030
- Achieve 70% improvement in production efficiency by 2030
- Achieve 80% coverage of critical supply chain partners for ESG assessment by 2030
Environmental Challenges
- Meeting ambitious renewable energy targets (75% by 2030)
- Reducing waste intensity (1% increase in FY24)
- Improving employee retention rate (79% in FY24)
- Improving employee engagement score (78% in FY24)
- Increasing women in management roles (8% in FY24)
- Achieving 70% production efficiency by 2030
- Achieving 90% coverage of critical supply chain partners for ESG assessment by 2030
- Supply chain sustainability
Mitigation Strategies
- Developing a sustainable supply chain program to assess social and environmental practices of suppliers
- Implementing various initiatives to improve energy efficiency, water management, and waste reduction
- Ongoing improvement initiatives
Supply Chain Management
Supplier Audits: 100%
Responsible Procurement
- Sustainable Supply Chain Program (in development)
- Encouraging adherence to ISO 9001 and ISO 14001 standards
Climate-Related Risks & Opportunities
Opportunities
- Development of energy-efficient products
- Renewable energy generation
Sustainable Products & Innovation
- Energy Efficient Transfer case (PTO) boom pump gearbox
- Low noise with high efficiency 375 size of VRM gearbox for coal pulverizing
- Products inline planetary gearbox with high torqueing capacity