Climate Change Data

Ramkrishna Forgings Limited

Climate Impact & Sustainability Data (2022-23, 2023-04 to 2024-03, 2024-07 to 2024-12)

Reporting Period: 2022-23

Environmental Metrics

Total Carbon Emissions:223,526.39 tCO2e
Scope 1 Emissions:83,539.93 tCO2e
Scope 2 Emissions:1,39,986.46 tCO2e
Scope 3 Emissions:Not disclosed
Renewable Energy Share:Not disclosed
Total Energy Consumption:12,01,188 GJ
Water Consumption:2,63,948 kiloliters
Waste Generated:346.116 metric tonnes
Carbon Intensity:Not disclosed

ESG Focus Areas

  • Employee Health and Safety
  • Energy Management
  • GHG Emission
  • Code of Conduct
  • Water Management
  • Waste Management
  • Board Structure and Management
  • Risk Management

Environmental Achievements

  • Installed an Effluent Treatment Plant (ETP) of 100 KLD capacity, increasing total ETP capacity to 250 KLD. Installed a Sewage Treatment Plant (STP) of 65 KLD capacity, increasing total STP capacity to 127 KLD.
  • Initiated installation of 7.82 MW capacity rooftop solar project

Social Achievements

  • Employee well-being program
  • Training program on health & safety

Governance Achievements

  • No specific governance achievement explicitly mentioned in the report.

Climate Goals & Targets

Long-term Goals:
  • Achieve Carbon Neutrality (Scope 1 and 2 Emissions) by 2050.
Medium-term Goals:
  • Increase Renewable Energy (RE) mix to 50% by the Financial Year 2028.
  • Targets to train and employ 100 persons/youth from local villages by the Financial Year 2030.
  • By 2030, the Company aims to increase the representation of women in the Company’s leadership team by 10%.
Short-term Goals:
  • 100% recycling of water by 2025
  • Targets to map the local suppliers within the State in which it operates by the Financial Year 2024 and ensure that 80% of suppliers are within the same State of the manufacturing plants.

Environmental Challenges

  • Employee Health and Safety risks
  • Breach in code of conduct
  • Failure to manage waste
  • Lack of diversity in board structure
Mitigation Strategies
  • Employee well-being program, training program on health & safety, adherence to plant manuals
  • Webinar and induction training sessions for employees
  • Waste management study
  • Improve diversity in board structure

Supply Chain Management

Supplier Audits: 100%

Responsible Procurement
  • Supplier Code of Conduct

Climate-Related Risks & Opportunities

Physical Risks
  • Not disclosed
Transition Risks
  • Not disclosed
Opportunities
  • Energy management planning, renewable energy target

Reporting Standards

Frameworks Used: Null

Certifications: ISO 9001:2015, IATF 16949:2016, ISO/TS 22163:2017, ISO 14001:2015, ISO 45001:2018, ISO/IEC 17025:2017, EN 15085-2, DIN EN ISO 3834-2

Third-party Assurance: Price Waterhouse Coopers (PwC), Bureau Veritas

UN Sustainable Development Goals

  • Not disclosed

Not disclosed

Sustainable Products & Innovation

  • Not disclosed

Awards & Recognition

  • Not disclosed

Reporting Period: 2023-04 to 2024-03

Environmental Metrics

Total Carbon Emissions:164385.43 tCO2e/year
Scope 1 Emissions:33106.69 tCO2e/year
Scope 2 Emissions:161218.74 tCO2e/year
Renewable Energy Share:28% (target by 2028)
Total Energy Consumption:1328359 GJ/year
Water Consumption:309254 KL/year
Waste Generated:302.881 MT/year
Carbon Intensity:1.04 tCO2e/MT

ESG Focus Areas

  • Employee Health and Safety
  • Energy Management
  • GHG Emission
  • Code of Conduct
  • Water Management
  • Waste Management
  • Board Structure and Management
  • Risk Management

Environmental Achievements

  • Commissioned 6.1 MW solar plant (Balance 1.02 MW will be completed in FY 2024-25)
  • Plans to set-up 10 MW capacity Rooftop Solar Project across all plants in FY 2024-25
  • Closed loop water system with no discharge across Plants 5, 6 and 7
  • Recycled 85,723 KL of water in Financial Year 2023-24 against 29,988 KL of water in Financial Year 2022-23
  • Achieved power factor of 1 (one) in Financial Year 2023-24
  • Zero Loss Time Injury Frequency Rate (LTIFR) and fatalities in the Financial Year 2023-24

Social Achievements

  • 197 persons/youth from local villages were trained and hired as permanent employees
  • 94% of employees have been trained on ESG
  • 88% of employees have been trained on Human Rights
  • Developed and launched a supplier risk framework and started supplier ESG assessments
  • 91% of employees were trained on the Company Code of Conduct
  • Organised employee wellbeing programs such as eye checkup camps for forklift operators

Governance Achievements

  • Refreshed Company’s Code of Conduct to align with best practices
  • Conduct employee training on the Code of Conduct
  • Ensures continuous monitoring of violations and resolutions through the vigil mechanism
  • Quarterly Reporting to the Board on Adherence to Code of Conduct by Directors and Senior Management Personnel
  • Devised/Updated 10 policies during the Financial Year 2023-24
  • Achieved 9% women representation in the Board of Directors

Climate Goals & Targets

Long-term Goals:
  • Achieve Net Zero by 2040
Medium-term Goals:
  • Increase Renewable Energy (RE) mix to 100% by 2033
  • Achieve Zero Liquid Discharge (ZLD) across all plants by 2030
  • Procure 25% of green steel by 2028, 50% by 2033 and 100% by 2040
  • Targets to map local suppliers within the State in which it operates by 2024 and ensure that 80% of suppliers are within the same State of the manufacturing plants.
  • Train 100% of employees on ESG by 2025
  • Train 100% employees on Human Rights by 2025
  • Achieve 100% supplier ESG audits by 2030
  • Aims to increase the representation of women in the Company’s leadership team by 10% by 2030
Short-term Goals:
  • Reduce water consumption by 30% by 2025
  • Reduce total waste generation by 50% by 2030
  • Achieve 100% water recycling by 2025
  • Achieve an accident free workplace by 2024
  • Train 100% of employees on Health and Safety by 2024

Environmental Challenges

  • Potential workplace accidents, injuries, and illnesses
  • Changes in government policies, regulations, or bureaucratic processes
  • Lack of a skilled workforce
  • Economic shifts or changes in industry demand
  • Breach of Code of Conduct
  • Water scarcity and pollution
  • Environmental pollution, regulatory non-compliance, and reputational damage
  • Poor governance and lack of diversity
Mitigation Strategies
  • Investing in research and development and upgrading equipment’s
  • Continuously improving yield through design enhancements and process modifications
  • In-house development of spares
  • Keeping ourselves updated with regulatory norms
  • Prepare contingency plans and adjust strategies
  • Standardise and modularise designs and processes
  • Provide training programs for existing employees
  • Focus on diversity initiatives
  • Offer opportunities for experienced engineers to mentor junior colleagues
  • Diversify our product portfolio
  • Increasing our presence in Non- Auto Industries
  • Collaborate with other companies
  • Refreshed Company’s Code of Conduct
  • Conduct employee training on the Code of Conduct
  • Ensures continuous monitoring of violations and resolutions through the vigil mechanism
  • Quarterly Reporting to the Board on Adherence to Code of Conduct
  • Conducted water management study
  • Minimising dependency on groundwater and freshwater
  • Installed rainwater harvesting infrastructure
  • Conducted waste management study
  • Implements waste disposal through authorised recyclers
  • A diverse and independent board of directors
  • A robust policy framework guiding ethical and responsible business operations
  • The Company has a Risk Management Committee

Supply Chain Management

Supplier Audits: 100% (target by 2030)

Responsible Procurement
  • Supplier Code of Conduct
  • ESG-driven supplier questionnaire

Climate-Related Risks & Opportunities

Opportunities
  • Reducing GHG emissions
  • Increasing renewable energy mix

Reporting Period: 2024-07 to 2024-12

Environmental Metrics

Scope 1 Emissions:32,296
Scope 2 Emissions:160,247

ESG Focus Areas

  • Environmental Consciousness
  • Valuable Partnerships
  • Rewarding Workplace
  • Empowered Communities
  • Robust Governance

Environmental Achievements

  • 16% Reduction in waste generation
  • 14% Reduction in groundwater consumption
  • 46% increase in waste recycling and reuse
  • 59% increase in Sewage Treatment Plant Capacity
  • 12% increase in Effluent Treatment Plant Capacity
  • Initiated steps to enhance renewable power capacity by 36 MW (projected to save 46,375 tCO2e)

Social Achievements

  • 98% Permanent employees trained on ESG
  • 99% Permanent employees trained on Human Rights
  • Achieved ‘Great Place to Work’ Certification for the second year in a row
  • 11 kilometres Street Light Installation

Governance Achievements

  • Embedding ESG Supplier Assessment Framework
  • Align to Customer Requirements on Supply Chain
  • Meet SEBI’s BRSR Reporting Requirements
  • Align to EU’s CBAM Disclosure Requirements

Climate Goals & Targets

Long-term Goals:
  • Achieve Net Zero by 2040
Medium-term Goals:
  • Achieve Zero Liquid Discharge (ZLD) across all plants by 2030
  • Reduce total waste generation by 50% by 2030
  • Achieve 100% Renewable Energy by 2033
  • Launch a flagship CSR program across all plants by 2030
Short-term Goals:
  • Train 100% employees on ESG by 2025
  • Train 100% employees on Human Rights by 2025

Environmental Challenges

  • Supply chain disruptions (implied)
  • Meeting export-related requirements (CBAM)
Mitigation Strategies
  • Collaborating with suppliers to procure Green Steel
  • Reporting on Carbon Border Adjustment Mechanism disclosures

Supply Chain Management

Responsible Procurement
  • ESG Supplier Assessment Framework

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: GRI, SEBI’s BRSR, EU’s CBAM

UN Sustainable Development Goals

  • 9 United Nations Sustainability Development Goals

Awards & Recognition

  • Great Place to Work Certification