Climate Change Data

Environmental Metrics

ESG Focus Areas

• Environment
• Social
• Governance

Environmental Achievements

• 17% Electricity from renewable resources
• Reduction in CO2 footprint
• Energy efficient LED lights in plants
• Total water recycled 67+ million litres
• 10 Villages getting benefitted by water harvesting

Social Achievements

• 40,000+ hours Training hours spend on training
• 41 Villages getting benefitted by medical services rendered by mobile medical units
• Community engagement initiatives like mobile medical units offering services like OPD, camps and counselling, three - year certification course in self-defence to train women in physical and mental preparedness among others
• ~6,000 Trees planted

Governance Achievements

• Robust client centricity
• Deploying whole new gamut of digital tools for better consumer connect and technical assistance as well as enhanced consumer experience
• Automated order booking system through portal

Climate Goals & Targets

Supply Chain Management

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: GRI Standards, International framework of the International Integrated Reporting Council (IIRC), United Nations Sustainable Development Goals (UN SDGs), United Nations Global Compact Principles (UNGC), National Voluntary Guidelines on Social, Environmental and Economic Responsibilities of Business (NVG-SEE)

Environmental Metrics

ESG Focus Areas

• Climate Change and Energy
• Climate Action/Climate Change
• Health and safety
• Innovation
• Water Management
• Waste Management
• Diversity and Inclusion
• Responsible Supply Chain
• Labour Management
• Product Stewardship
• Employee training and development

Environmental Achievements

• Installed a 0.72 MW solar rooftop system in Daman
• Achieved reduction in overall energy consumption through the implementation of solar power
• Executed modifications to compressors in machinery, resulting in substantial energy savings of 1,075,000 kWh
• 83.7% of input material sourced sustainably
• Recycled 7,380 metric tonnes of waste

Social Achievements

• Launched iLearn initiative to develop the skills of employees and workers
• 100% of employees and workers covered under health insurance
• Various entertainment programmes, fire and safety drills, demonstrations, competitions and sports events are organised with the motto of educating the employees and workers on aspects relating to health and safety.
• Implemented a dedicated software platform to ensure compliance with all relevant labour rules and regulations

Governance Achievements

• Policies are available on the website of the Company
• Independent assessment of our policies is carried out by MMJC Consultancy LLP.
• The Board of Directors has a Corporate Social Responsibility and ESG Committee

Climate Goals & Targets

Environmental Challenges

• Physical risks due to climate change can cause disruptions for business operations. Climate change related transition risks can shift the market dynamics for certain sectors affecting the asset value. Increased regulatory requirements may result in higher compliance requirements.
• Occupational Health and Safety is of paramount importance to Polycab, given the potential risks associated with our labour-intensive manufacturing operations. Machinery breakdowns and human negligence can lead to health issues and injuries, posing a substantial risk.
• Water availability and quality are crucial for Polycab’s operations. Water scarcity risks disruptions, supply chain challenges, rising costs, and health/safety issues for employees and communities. Competing for water resources with local communities jeopardises our social license to operate.
• Being a manufacturing companies, proper waste handling and disposal are crucial to protect the environment, ensure safety, and avoid penalties. Inappropriate waste management practices can result in fines, litigation risks, and operational disruptions due to non-compliance.
• Polycab acknowledges the increasing demand from investors, customers, and regulators to address ESG risks in supply chains. Neglecting sustainable supply chain practices exposes companies to risks like labour disruptions, health and safety incidents, human rights issues, and raw material shortages.
• As a manufacturing organisation, compliance with labour management and labour laws is critical. Human rights represent a risk for Polycab due to its labour-intensive operations. Potential occurrences of human rights violations or failure to comply with statutory regulations can result in adverse financial and reputational consequences.

Mitigation Strategies

• Polycab incorporates various alternative energy sources, such as wind-solar hybrid systems and innovative power purchase contracts, to enhance renewable energy consumption in its operations.
• At Polycab, we prioritise fostering a culture of zero harm through the integration of lean safety principles like the ‘5S - Sort, Set in order, Shine, Standardise, and Sustain’ into our operations.
• We are committed to sustainable water management, especially in water-stressed operational areas.
• Polycab has established appropriate waste management processes for proper collection, segregation, and safe disposal of waste.
• Polycab recognises the importance of integrating ESG considerations into its supply chain to mitigate risks effectively.
• Polycab has implemented a dedicated software platform to ensure compliance with all relevant labour rules and regulations.

Supply Chain Management

Supplier Audits: 80% of input material suppliers (by value)

Responsible Procurement

• Supplier Code of Conduct Policy
• ESG factors prioritised during vendor onboarding

Climate-Related Risks & Opportunities

Physical Risks

• Disruptions to business operations

Transition Risks

• Market shifts
• Regulatory changes

Opportunities

• Development of energy-efficient products
• Growing export market driven by global thrust on renewable energy

Reporting Standards

Frameworks Used: BRSR Core

Certifications: ISO 9001: 2015, ISO 14001: 2015, ISO 45001: 2018, ISO 50001: 2018, ISO 17025: 2017, IATF 16949: 2016, BASEC, IEC, UL

Third-party Assurance: KPMG Assurance and Consulting Services LLP

UN Sustainable Development Goals

• Not disclosed

Not disclosed

Sustainable Products & Innovation

• Green Wire
• BLDC fans

Awards & Recognition

• Not disclosed