Climate Change Data

Environmental Metrics

ESG Focus Areas

• Ethics, Transparency and Accountability
• Sustainability
• Employee Well-being
• Stakeholder Engagement
• Human Rights
• Environmental Responsibility
• Inclusive Growth
• Customer Engagement

Environmental Achievements

• 2 MW installed solar capacity at Chakan plant, reducing 1,200 tons of CO2e
• Kaizens reduced power consumption by 4.24%, fuel by 24%, and water by 10% at Chakan plant
• 6.64% reduction in specific power consumption at Waluj plant
• 4.6% reduction in specific carbon emission at Waluj plant
• 45.4% of electricity sourced from renewable sources at Akurdi plant
• Kaizens reduced power consumption at Akurdi plant by 87,369 units/year
• Kaizens reduced power consumption at Pantnagar plant by 451,500 units/year
• Kaizens reduced water consumption at Pantnagar plant by 4,162 M3/year
• 100% of canteen waste composted at Akurdi, Pantnagar, and Chakan plants
• Waluj and Chakan plants are water positive
• 87% recyclability and 94% recoverability rates for products (preliminary study)

Social Achievements

• 1,799 employees hired, including 203 permanent employees and 25 specially-abled permanent employees
• 21% increase in women employees (355 total, 155 regular)
• More than 6,000 employees trained through 306 training programs (10,306 man-days)
• TPM training (2,752 man-days)
• Launched Voluntary Parental cover
• 9.34% of new employees from scheduled castes and scheduled tribes
• Bajaj Education Initiative (BEI) benefitted 6,281 beneficiaries across 110 schools
• Upgradation of 5 Industrial Training Institutes (ITIs)
• Support for Paraplegic Rehabilitation Centre (PRC), Kirkee, Pune

Governance Achievements

• Company-wide Code of Conduct (CoC) in place
• Grievance Redressal Policy and Whistle Blower Policy
• Separate CoC for Directors and Senior Management
• Signatory to the Model Code of Conduct (CII)
• Industry partner of the World Economic Forum’s PACI (Partnership Against Corruption Initiative)
• Zero-tolerance towards bribery policy
• Regular supplier audits conducted

Climate Goals & Targets

Environmental Challenges

• Not disclosed

Mitigation Strategies

• Not disclosed

Supply Chain Management

Supplier Audits: 38 audits in FY 2017-18

Responsible Procurement

• Green Purchasing Policy
• ISO 14001 and OHSAS 18001 certifications for key vendors
• Total Productive Maintenance (TPM) Policy

Climate-Related Risks & Opportunities

Physical Risks

• Not disclosed

Transition Risks

• Not disclosed

Opportunities

• Not disclosed

Reporting Standards

Frameworks Used: National Voluntary Guidelines on Social, Environmental and Economic Responsibilities of Business (NVGs)

Certifications: ISO 14001-2015 (all plants), OHSAS 18001-2007 (all plants), ISO 9001-2015 (all plants)

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

• Not disclosed

Not disclosed

Sustainable Products & Innovation

• BS VI compliant models and emission-free electric vehicles

Awards & Recognition

• Gold Award for safety initiatives (Chakan plant)
• Recognition Award for Implementation of Behaviour Based Safety (Chakan plant)
• World-Class Safety Practices for Business Sustainability Award (Chakan plant)
• National Energy Management Award 2017 (Waluj plant)

Environmental Metrics

ESG Focus Areas

• Ethics, Transparency and Accountability
• Product Safety and Sustainability
• Employee Well-being
• Stakeholder Engagement
• Human Rights
• Environmental Protection
• Public Policy Engagement
• Inclusive Growth
• Customer Engagement

Environmental Achievements

• Reduced waste generation per vehicle by 15%
• 18 vendors installed rooftop solar projects of 15 MW capacity, resulting in green power generation and greenhouse gas emission reduction
• 5.81% reduction in specific LPG consumption (kg/vehicle) at Waluj plant
• 4.11% reduction in specific power consumption (KWH/vehicle) at Waluj plant
• 3.89% reduction in specific carbon emission (kg/vehicle) at Waluj plant
• 5.72% reduction in specific power consumption (KWH/vehicle) at Pantnagar plant
• 6% reduction in specific LPG consumption (kg/vehicle) at Pantnagar plant
• 25% reduction in water consumption (m3/Month) at Akurdi plant
• Achieved Power consumption of 5.93 Units./Veh. (lowest) at Akurdi plant
• Packaging material consumption reduction: Plastic 5.24 tons, Corrugated Material 86 tons and Wood 680 tons at Waluj plant
• 100% of canteen waste at Pantnagar and Chakan is composted
• Complete elimination of thermocole material
• Use of 20% recycled plastic with a minimum film thickness of 50 microns

Social Achievements

• Hired 2,863 employees, including 330 permanent employees
• 29% increase in women employees over last year (471 women employees as of 31 March 2019)
• More than 4,800 employees trained through 311 training programmes, spanning 7,900 man-days
• Additional training on TPM pillars (Safety, Health and Environment) spanning 5,319 man-days
• Launched schemes like Car Lease and Corporate NPS Scheme for Level 3 and above employees
• Collaboration with Loughborough University, UK, for leadership development
• Launched an e-learning library with 528 learners attending 1,835 courses
• Launched a new Flextime Policy for Level 3 and above employees
• Recruited 2,863 new employees of which 242 (8.45%) belong to scheduled castes and scheduled tribes and 845 (29.51%) to other backward classes
• Organised a book exhibition cum sale at its Akurdi plant

Governance Achievements

• Adopted a Company-wide ‘Code of Conduct’ in 2009
• Established a ‘Grievance Redressal Policy’ and a ‘Whistle Blower Policy’
• Adopted a separate CoC for Directors and Senior Management
• Signatory to the Model Code of Conduct developed by Confederation of Indian Industry (CII)
• Industry partner of the World Economic Forum’s ‘Partnership Against Corruption Initiative’ (PACI)
• Zero-tolerance policy towards bribery
• Quarterly submission of legal compliance report to the Board of Directors

Climate Goals & Targets

Environmental Challenges

• Meeting government norms for anti-lock braking system and combined braking system
• Compliance with BS VI emission norms
• Ensuring all key vendors are certified for ISO 14001 and OHSAS 18001 management systems
• Reducing plastic waste generation
• Managing hazardous and non-hazardous wastes

Mitigation Strategies

• Plans in place to comply with ABS/CBS norms by March 2019
• Planned to comply with BS VI norms by end of 2019
• Making ISO 14001 and OHSAS 18001 certifications a prerequisite for all BAVA members
• Initiatives to reduce plastic waste generation (elimination of thermocole, use of recycled plastic, etc.)
• Continuous efforts to reduce hazardous and non-hazardous waste generation

Supply Chain Management

Supplier Audits: 54 audits in FY2018-19

Responsible Procurement

• Green Purchasing Policy
• ISO 14001 and OHSAS 18001 certifications for vendors
• TPM Policy

Climate-Related Risks & Opportunities

Physical Risks

• Not disclosed

Transition Risks

• Not disclosed

Opportunities

• Not disclosed

Reporting Standards

Frameworks Used: National Voluntary Guidelines on Social, Environmental and Economic Responsibilities of Business (NVGs)

Certifications: ISO 14001:2015, OHSAS 18001, ISO 9001:2015

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

• Not disclosed

Not disclosed

Sustainable Products & Innovation

• Not disclosed

Awards & Recognition

• Gold Award for safety initiatives and safety skit by Quality Circle Forum of India, Pune Chapter

Environmental Metrics

ESG Focus Areas

• Ethics, Transparency and Accountability
• Employee Well-being
• Stakeholder Engagement
• Environmental Sustainability
• Human Rights
• Inclusive Growth

Environmental Achievements

• 9.19% reduction in specific power consumption at Waluj plant
• 5% reduction in specific LPG consumption at Waluj plant
• 5.71% reduction in specific water consumption at Waluj plant
• 14% reduction in specific Greenhouse Gas (GHG) emissions at Waluj plant
• Zero liquid discharge with 100% recycling of process wastewater at Waluj, Pantnagar, and Chakan plants
• Installation of solar rooftop power plants at various plants and vendor locations (cumulative 30 MW)
• 87% recyclability and 94% recoverability rates for products
• All two-wheeler models BS-VI compliant
• Introduction of Chetak Electric scooter

Social Achievements

• 3,330 employees hired, including 298 from scheduled castes & scheduled tribes and 1,032 from OBC category
• Over 9,341 employees trained through 586 training programs
• Launched a new Performance Management System (PMS)
• Launched ‘Code of Conduct for Affirmative Action’
• POSH policy implemented and internal committees revised
• No complaints filed or pending relating to child labour, forced labour, involuntary labour or discriminatory employment

Governance Achievements

• Company-wide Code of Conduct (CoC) adopted and periodically reviewed
• Grievance Redressal Policy and Whistle Blower Policy in place
• Industry partner of the World Economic Forum’s Partnership Against Corruption Initiative (PACI)
• Signatory to the Model Code of Conduct developed by Confederation of Indian Industry (CII)
• Quarterly legal compliance report submitted to the Board of Directors

Climate Goals & Targets

Environmental Challenges

• Reducing plastic waste
• Ensuring compliance with environmental regulations across global markets
• Managing supply chain sustainability

Mitigation Strategies

• Initiatives to reduce and eliminate plastic in packaging
• Compliance with CMVR and emission standards in all markets
• Green Purchasing Policy applicable to entire supply chain, promoting ISO 14001 and OHSAS 18001 certifications among vendors
• Engagement with vendors through Bajaj Auto Vendor Association (BAVA)

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement

• Green Purchasing Policy, preference for local vendors, promotion of ISO 14001 and OHSAS 18001 certifications

Climate-Related Risks & Opportunities

Physical Risks

• Not disclosed

Transition Risks

• Not disclosed

Opportunities

• Electric mobility

Reporting Standards

Frameworks Used: National Voluntary Guidelines on Social, Environmental and Economic Responsibilities of Business (NVGs)

Certifications: ISO 14001, OHSAS 18001 (at various vendor locations)

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

• Not disclosed

Not disclosed

Sustainable Products & Innovation

• Chetak Electric scooter

Awards & Recognition

• Not disclosed

Environmental Metrics

ESG Focus Areas

• Ethics, Transparency and Accountability
• Product Safety and Sustainability
• Employee Well-being
• Stakeholder Engagement
• Human Rights
• Environmental Protection
• Public Policy Engagement
• Inclusive Growth
• Customer Engagement

Environmental Achievements

• 87% recyclability and 94% recoverability rates for products
• Implementation of End-of-Life Vehicles (ELV) rules with monitoring and reduction of heavy metals
• 35 vendors installed rooftop solar projects (33 MW capacity)
• Reduction in packaging waste (plastic Mukt Bajaj by 2022)
• Various plant-wise initiatives leading to reductions in specific power consumption, water consumption, and greenhouse gas emissions (details provided in the report for each plant)

Social Achievements

• 3,078 employees hired, including 654 women
• Over 6,300 employees trained through 339 training programs
• Launch of BOLT (Bajaj’s Online Learning Tool) with 97% employee access
• Launch of MAXIMUS business excellence program
• Launch of Master Class leadership development program
• Celebrated International Women’s Day with various initiatives
• MoU signed with Coventry University for employee training
• Revised transfer and relocation policy with improved benefits
• Annual health check-up extended to all employees 40 and above
• Term life insurance policy covering over 2,300 employees
• 9% of new employees from scheduled castes and scheduled tribes

Governance Achievements

• Company-wide Code of Conduct (CoC) adopted in 2009, with grievance redressal and whistleblower policies
• Separate CoC for Directors and Senior Management
• Signatory to World Economic Forum’s Partnership Against Corruption Initiative (PACI) and CII’s Model Code of Conduct
• Quarterly legal compliance reports submitted to the Board of Directors

Climate Goals & Targets

Environmental Challenges

• COVID-19 pandemic impact on operations and supply chain
• Meeting increasing environmental regulations

Mitigation Strategies

• Extended support to vendors during lockdown (operational, financial, and training)
• Implementation of various environmental initiatives to reduce emissions, water usage, and waste generation
• COVID-19 safety measures implemented for employees and customers (e.g., spaced work desks, rapid antigen testing, voluntary COVID-19 Mediclaim insurance)

Supply Chain Management

Supplier Audits: 59 third-party legal and environmental audits completed

Responsible Procurement

• Green Purchasing Policy
• Preference for local vendors
• ISO 14001/OHSAS 18001 certification requirement for vendors
• BAVA Safety Committees for vendor safety
• TPM Policy for vendor efficiency improvements
• Encouragement of solar panel installation at vendor locations

Climate-Related Risks & Opportunities

Physical Risks

• Not disclosed

Transition Risks

• Not disclosed

Opportunities

• Electric mobility

Reporting Standards

Frameworks Used: National Voluntary Guidelines on Social, Environmental and Economic Responsibilities of Business (NVGs)

Certifications: ISO 14001/OHSAS 18001 (for 135 vendors), ISO 45001:2018 (Pantnagar plant), IMS Certification (Safety + Environment) ISO 14001:2015 and OHSAS 18001:2007 (Chakan plant)

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

• Not disclosed

Not disclosed

Sustainable Products & Innovation

• Chetak Electric vehicle

Awards & Recognition

• 1st prize in The Machinist super shop floor award -2020 (Safety category)
• Gold medal for safety presentation (Safety Poka-yoke category)

Environmental Metrics

ESG Focus Areas

• Emissions
• Energy management
• Waste generation
• Water management
• Community engagement and development
• Responsible supply chain and service providers
• Employee (including workers) engagement and welfare
• Corporate governance
• Innovation
• Product quality
• Regulatory compliance
• Human rights
• Occupational health and safety
• Business ethics
• Customer satisfaction

Environmental Achievements

• Achieved commitments, goals and targets set for water positivity, zero liquid discharge, renewable energy use, and Scope 1 and Scope 2 emissions reduction.
• Reduced GHG emissions by implementing various initiatives like installing energy-efficient pumps and motors, separating air supply ducts, installing an electrical reciprocator, and using energy-efficient lighting.
• Reduced R22 refrigerant gas usage.

Social Achievements

• 100% of employees and workers covered by health insurance and accident insurance.
• Implemented various measures for employee and worker well-being, including health insurance, accident insurance, maternity benefits, and paternity benefits.
• Implemented grievance redressal mechanisms for employees and workers.
• Conducted training programs on health and safety measures and skill upgradation for employees and workers.

Governance Achievements

• Policies covering all principles and core elements of NGRBCs, approved by the Board.
• Implemented procedures for sustainable sourcing, with 100% of input materials and services sourced from suppliers adhering to internal sustainability standards.

Climate Goals & Targets

Environmental Challenges

• Lack of optimizing energy consumption leading to penalties and high production costs.
• Failure to adopt low-carbon technologies exposing the company to potential legislative or taxation burdens.
• GHG emissions in Scope 1, 2, and 3 categories.
• Need to integrate ESG practices throughout the supply chain.
• Waste management compliance with India’s Plastic Waste Management Rules, 2016 and EPR guidelines.
• Water management in the context of climate change and erratic weather patterns.
• Ensuring a safe environment and working conditions for employees in a manufacturing setting.
• Lack of customer focus impacting business profitability.

Mitigation Strategies

• Established business excellence team to identify opportunities for energy efficiencies.
• Regular internal energy audits and cost reduction studies.
• Initiatives around renewable energy and energy-efficient practices.
• GHG accounting of relevant categories of Scope 3 emissions and preparation of emission reduction countermeasures.
• Encouraging industrial suppliers to obtain ISO 14001/ISO 45001 certifications.
• Implementing a Supplier Code of Conduct.
• Aligning waste management initiatives with regulatory norms.
• Initiatives focused on net water positive through ground water recharge and rainwater harvesting.
• Using treated wastewater and implementing a Water Recirculation System (WRS).
• Implementing proactive measures like HIRA, safety observation tours, JSA, STOP cards, online work permission systems, HAZOP, Risk and Consequences Analysis, and Safety Audits.
• Regular internal audits and certifications of plants to ISO 45001:2018.
• Recording customer feedback through various channels and adapting TPM methodology at dealerships.

Supply Chain Management

Supplier Audits: 78% of Non-Industry suppliers assessed under ESG criteria

Responsible Procurement

• Supplier Code of Conduct

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: NGRBC

Certifications: ISO 45001, ISO 14001

Environmental Metrics

ESG Focus Areas

• Energy Management
• Emissions
• Responsible Supply Chain
• Waste Management
• Water Management
• Occupational Health and Safety
• Customer Satisfaction
• Human Rights
• Community Engagement

Environmental Achievements

• Achieved 100% water positivity through rainwater harvesting and groundwater recharge system.
• Reduced 2,466 tCO2 emissions in FY 23-24 through solar rooftop installation.
• Reduced 158 kg of R22 gas in FY 23-24 by replacing refrigerant gas.
• Renewable Energy generation increased from 15% to 20% in FY23-24 at Chakan I plant.
• 100% waste paint sludge diverted from landfill to recycler.
• Plastic packaging reduction from 114gms/vehicle to 51gms/vehicle.

Social Achievements

• 100% of employees and workers covered by health insurance.
• 100% of permanent employees and workers covered by accident insurance.
• Grievance redressal mechanisms in place for all employee and worker categories.
• 100% return to work rate for permanent employees who took parental leave.
• 87% retention rate for permanent female workers who took parental leave.

Governance Achievements

• Code of Conduct addressing bribery, favors, and gifts from business associates.
• Periodic review of policies by department heads, business heads, and senior management.
• Compliance with all applicable regulations.

Climate Goals & Targets

Environmental Challenges

• Inadequate optimization of energy consumption.
• Stakeholder focus on net GHG emissions.
• Substantial waste generation from manufacturing processes.
• Water scarcity and erratic weather patterns.
• Ensuring safe working conditions.
• Maintaining customer satisfaction.

Mitigation Strategies

• Conducting routine internal energy audits.
• Implementing strategies to conserve energy and maximize the utilization of renewable energy sources.
• Implementing emission reduction initiatives.
• Groundwater recharge and rainwater harvesting efforts.
• Zero Liquid Discharge (ZLD) Systems, Effluent Treatment Plants (ETP), and reverse osmosis (RO).
• HIRA, safety observation tours, Job Safety Analysis (JSA), STOP cards, online work permission systems, Hazard and Operability study (HAZOP), Risk and Consequences Analysis, and Safety Audits.
• Diverse channels for collecting customer feedback.

Supply Chain Management

Supplier Audits: 88% of Non-Industry suppliers assessed under ESG criteria

Responsible Procurement

• Code of Conduct integrating environmental, social and governance parameters.

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: BRSR Core, Greenhouse Gas Protocol

Certifications: ISO 45001:2018, ISO 14001:2015

Third-party Assurance: DNV Business Assurance India Private Ltd.

Sustainable Products & Innovation

• Electric Vehicles