Climate Change Data

Environmental Metrics

ESG Focus Areas

• Environmental Sustainability
• Social Responsibility
• Governance

Environmental Achievements

• Strict adherence to the principle of 4R (Reduce, Recycle, Reuse & Recover) improved environmental performance.
• Initiatives for improving energy efficiency across operations (replacement of pressure reducing valve with microturbine, efficiency improvement through optimization of heat transfer area, installation of variable frequency drives, heat recovery systems, and LED lamps).
• Waste reduction initiatives (investments in recycling facilities, transition towards smart packaging).

Social Achievements

• Various CSR initiatives (water conservation in agricultural rice fields, promotion of sustainable agriculture practices, deployment of 3 mobile medical units, improving primary education quality, skill training and employment opportunities for youth, financial linkages for women).
• Employee engagement initiatives (celebration of festivals, eye check-up, plant inauguration, women’s day celebration).
• Community interventions during COVID-19 (manufacturing and supply of sanitizers, distribution of dry ration kits and masks, webinars for farmers).

Governance Achievements

• Acquisition of Isagro Asia, resulting in additional manufacturing capacities and strengthening of domestic market position.
• Successful completion of a ₹2,000 crore QIP.
• ISO 27001:2013 certification for implementation of information security.

Climate Goals & Targets

Environmental Challenges

• COVID-19 pandemic causing disruptions in operations, domestic and export revenues.
• Global supply chain disruptions.
• Lockdown impact on domestic revenue.

Mitigation Strategies

• Ensuring employee safety and well-being.
• Minimizing service disruptions for customers.
• Gradual resumption of operations.
• Swift transition to and from lockdown mode.
• Implementation of a structured engagement doctrine for WFH employees.
• Proactive digital connect protocols for customers and farmers.
• Digitization of key business processes.

Supply Chain Management

Responsible Procurement

• Sustainable Procurement Policy
• Vendor Meets to discuss sustainability objectives
• Guidance to suppliers on environment-friendly practices
• Initiatives on packaging to reduce plastic and increase recycled paper use
• Sourcing bulk products in tankers/ISO tanks to reduce drum handling

Climate-Related Risks & Opportunities

UN Sustainable Development Goals

• Goal 1
• Goal 3
• Goal 4
• Goal 5
• Goal 6
• Goal 8
• Goal 13

PI’s CSR interventions align with several SDG goals.

Sustainable Products & Innovation

• NOMINEE GOLD herbicide
• Spray Machine
• HUMESOL

Awards & Recognition

• Golden Peacock Award for CSR
• 'Lifetime Achievement Award' to Salil Singhal

Environmental Metrics

ESG Focus Areas

• Climate Change
• Water Conservation
• Energy Efficiency
• Waste Management
• Employee Safety and Wellbeing
• Diversity and Inclusion
• Community Development
• Sustainable Supply Chain
• Corporate Governance

Environmental Achievements

• Reduced water consumption (specific) by 17%
• Increased renewable energy usage
• Reduced hazardous waste generation
• Reduced boiler fuel consumption by 3.5% through Fuel Emulsification System
• Reduced power consumption by optimizing brine systems and implementing variable frequency drives and temperature interlocks

Social Achievements

• Launched Human Rights Policy aligned with ILO and UN Global Impact principles
• Improved LTIFR (Lost Time Injury Frequency Rate)
• Zero fatalities in plant operations
• Increased employee average training hours per FTE
• Increased women participation in leadership positions
• Implemented Project Udbhav (Talent Management program) and Project Aagman (revamped onboarding program)
• Conducted Mega-stewardship day with 15,574 farmer participants

Governance Achievements

• Formalized a Sustainability Council to assist the Board
• Increased gender diversity on the Board of Directors
• 100% of workforce completed training on Code of Conduct and Cyber Security
• No penalties imposed for material non-compliance with corporate governance policies
• Implemented SAP ARIBA for sustainable procurement

Climate Goals & Targets

Environmental Challenges

• Raw material and waste management
• Product misuse
• Employee health and safety
• Regulatory compliance (including climate change regulations)
• Energy usage and GHG emissions
• Climate-related physical risks (weather events)
• Water scarcity

Mitigation Strategies

• Optimizing virgin material use, solvent recovery and reuse, smart packaging, yield improvement, waste management procedures
• Bio-efficacy studies, phasing out harmful ingredients, supporting proper product use, proper labeling
• Robust occupational health and safety management system, regular audits and safety training
• Regular monitoring of regulations, impact assessments
• Energy efficiency measures, cleaner fuels, renewable energy, reduction targets
• Product portfolio diversification, diversified production areas, supply chain network adjustments
• Reducing water consumption, onsite water treatment plants, water recycling, zero liquid discharge (ZLD) targets, development of water-efficient agrochemical products

Supply Chain Management

Supplier Audits: Annual audits of key suppliers

Responsible Procurement

• Sustainable Procurement Policy
• Supplier screening on environmental criteria (100% of new suppliers in 2020-21)
• Encouraging suppliers to adopt sustainable practices
• Implementation of SAP ARIBA

Climate-Related Risks & Opportunities

Physical Risks

• Frequent weather changes
• Drought
• Floods
• Water scarcity

Transition Risks

• Stringent regulations on GHG emissions and water rights

Opportunities

• Development of energy-efficient products
• Adoption of renewable energy sources

Reporting Standards

Frameworks Used: GRI Standards: Core Option, TCFD recommendations

Certifications: ISO 14001:2015 (Environmental Management System), OHSAS 18001 (Occupational Health and Safety Management System) at 4/5 manufacturing locations, ISO 50001:2011 (Energy Management System) at Jambusar site, NABL ISO 17025 accreditations and GLP certifications at Udaipur R&D center

Third-party Assurance: Thinkthrough Consulting Pvt. Ltd. (AA1000AS v3 – Type 2 Moderate criteria)

UN Sustainable Development Goals

• 1
• 3
• 4
• 5
• 6
• 8
• 13

CSR initiatives align with these SDGs

Sustainable Products & Innovation

• Nominee Gold (environmentally friendly herbicide)
• Humesol (biostimulant based on seaweed)
• Biovita (biostimulant improving soil health)
• Water-based Rice herbicide Bis-pyribac sodium replacing Glyphosate
• New generation Insecticide TOLFENPYRAD EC replacing Ethion 50 % EC

Awards & Recognition

• CII-National Award for Excellence in Water Management
• World Leadership Congress- Corporate Social Responsibility Programme of the Year Award

Environmental Metrics

ESG Focus Areas

• Environment
• Social
• Governance

Environmental Achievements

• Upgraded Effluent Treatment Plant (ETP) at Panoli
• Improved energy efficiency with PUF insulated panels and new refrigeration system
• Procured 1,679,668 units of wind power
• Commissioned micro turbine to reduce energy consumption
• Reduced boiler fuel consumption by 3.5%
• Reduced power consumption by 3.5% in brine systems
• Reduced power consumption by 7% in brine pumps
• Reduced pumping power consumption by optimizing head
• Reduced power consumption by implementing temperature interlock in cooling tower fans
• Reduced overall power consumption in compressed air
• Achieved 99 out of 100 score on TFS assessment

Social Achievements

• Launched PI Mitra, a digital tool to connect with customers and channel partners
• Launched comprehensive Talent Management program – Project Udbhav
• Launched revamped onboarding program – Project Aagman
• Implemented various COVID-19 support initiatives for employees and communities
• Improved safety practices with Safety Week, Fire Safety Day, and World Environment Day celebrations
• Implemented 14 process safety management elements of OSHA
• Conducted regular training programs on OH&S and Process Safety
• Achieved Gold rating from EcoVadis

Governance Achievements

• Established a diverse and inclusive Board of Directors
• Implemented robust internal control systems
• Conducted annual evaluation of Board performance, Directors’ performance, and Committee working
• Established a Risk Management Committee
• Appointed a Chief Risk Officer
• Implemented a Whistle Blower Policy
• Successfully completed integration of Isagro Asia

Climate Goals & Targets

Environmental Challenges

• COVID-19 pandemic and its impact on global and Indian economies
• Supply chain disruptions due to the pandemic
• Economic slowdown in India

Mitigation Strategies

• Proactive measures in supply chain and operations planning
• Developed alternative sourcing strategies
• Leveraged technology and digital tools for business continuity
• Successfully completed QIP to raise funds

Supply Chain Management

Responsible Procurement

• Sustainable Procurement Policy
• Vendor Meets to discuss sustainability objectives
• Initiatives to reduce packaging materials and increase use of recycled paper
• Sourcing raw materials in bulk to reduce packaging waste
• Promoting procurement from local and small producers

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: GRI

Certifications: ISO 14001, OHSAS 18001, ISO 27001, NABL, GLP

UN Sustainable Development Goals

• Goal 1
• Goal 3
• Goal 4
• Goal 5
• Goal 6
• Goal 8
• Goal 13

CSR initiatives contribute to these goals through various programs related to poverty, health, education, gender equality, water, economic growth, and climate action.

Sustainable Products & Innovation

• Nominee Gold herbicide
• Spray Machines
• Humesol

Awards & Recognition

• Business Leader of the Year Award
• Most Admired Company of the Year Award
• Corporate Social Responsibility Programme of the Year Award
• CII-National Award for Excellence in Water Management 2020
• Best HR Strategy in Line with Business Award
• Continuous Innovation in HR Strategy at Work Award

Environmental Metrics

ESG Focus Areas

• Environmental Sustainability
• Social Responsibility
• Governance

Environmental Achievements

• Increased share of non-conventional renewable source of energy to 4% in 2021-22 from 1.6% last year.
• Various initiatives for improvising solvent recovery by more than 10% over previous year.
• Efforts for making manufacturing sites zero discharge by installation and recycling of waste water.
• 25% of hazardous waste was recycled.

Social Achievements

• 90,287 people covered through 3 Mobile Medical Units in FY 2021-22.
• 15,000 Govt. School Children benefited from Learning Enhancement programme.
• 7,000 women benefited through entrepreneurship and skills enhancements.
• 480 youth trained in FY 2021-22 at Skill Development Centre, 300 placed in organized sectors.

Governance Achievements

• Emerged amongst top quintile companies in very first S&P global Corporate Sustainability Assessment (CSA) with 82% percentile industry ranking.
• Received Certificate of Appreciation, Karkhana Suraksha Puraskar-2022 for high safety standards.
• Awarded Golden Peacock Award for Sustainability for the year 2021.

Climate Goals & Targets

Environmental Challenges

• Adverse weather events in Kharif and continued disruptions owing to COVID impacted the overall demand pattern in first half.
• Regulatory delays in securing the approval for new products delayed many of the new launches during the year and has some impact on the business for the year.
• Geo-political uncertainties.

Mitigation Strategies

• Healthy water levels in reservoirs because of late monsoon rains boosted the rabi crop acres across the country.
• Digital initiatives and approaches helped to reach wide range of customers in a cost-effective and efficient way.
• Reduced dependency on single sources to de-risk supply chain and ensure supply sustainability.
• Swift pre-emptive measures, including setting up Bio-bubbles for strategic locations, following strict COVID related SOPs and ensured business continuity and delivery commitments.

Supply Chain Management

Responsible Procurement

• Sustainable Procurement Policy
• Supplier Code of Conduct

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: GRI, S&P Global Corporate Sustainability Assessment

Certifications: ISO 14001, OHSAS 18001, Responsible Care

UN Sustainable Development Goals

• Goal 1
• Goal 3
• Goal 4
• Goal 5
• Goal 6
• Goal 8
• Goal 13

CSR interventions align with several SDG goals.

Sustainable Products & Innovation

• Awkira
• Brofreya
• PB Knot
• Distruptor

Awards & Recognition

• Golden Peacock Award for Sustainability
• Certificate of Appreciation, Karkhana Suraksha Puraskar-2022
• Ranked in top quintile of S&P Global CSA

Environmental Metrics

ESG Focus Areas

• Climate Change
• Water Management
• Waste Management
• Emission Control
• Energy Management
• Chemical Substances
• Supply Chain Management
• Human Rights and Inclusion
• Occupational Safety and Employee Health
• Corporate Governance and Business Ethics
• Risk Management

Environmental Achievements

• Reduced specific CO2 emissions by 3.71% from the base year
• Reduced landfill waste by 37% from the base year
• Reduced specific freshwater consumption by 36.30% from the base year
• Increased renewable energy usage to 5.35% of total electricity
• 113.23 ML water recycled, marking an 87% increase from FY23
• 29% decrease in hazardous waste sent to landfill from FY23
• Reduced CO2 emissions by 96.6 MT by exporting 30% of shipments from Hazira port
• Reduced CO2 emissions by 53.7 MT by employing CNG vehicles
• Saved 22.5 MT of carbon emissions by recycling scrap and using recycled plastic sheets
• Two sites are Zero Liquid Discharge Units

Social Achievements

• Launched innovative farmer outreach and engagement initiative, collaborating with over two million farmers and treating approximately 19 million acres
• Increased employees’ average training hours per FTE by 86.52%
• Increased women’s participation in leadership positions by 50%
• 70% of enrolled youth placed through skill development initiatives
• 89,000+ healthcare beneficiaries through Mobile Health units and 14,000+ students impacted through various initiatives
• Zero product recall incidents in FY24
• 86% customer satisfaction score among B2B partners
• 87% customer satisfaction score amongst B2C segment

Governance Achievements

• 50% of the Board comprised of Independent Directors
• Established a Sustainability Council to elevate ESG priorities
• Implemented a comprehensive ESG program for suppliers, assessing 97% of significant suppliers
• Zero instances of data breaches

Climate Goals & Targets

Environmental Challenges

• Delayed and erratic monsoon patterns impacting domestic revenues
• Global macroeconomic environment characterized by inflationary pressures, geopolitical tensions, and supply chain disruptions
• Geopolitical unrest disrupting global supply chains
• Climate change impacting crop yields and necessitating adaptation of agricultural practices
• Regulatory policies in the Jambusar SEZ impacting renewable energy targets
• Ongoing insolvency litigation in the Jambusar SEZ

Mitigation Strategies

• Favorable product mix and improved working capital management to mitigate financial impact of monsoon
• Disciplined NWC management to improve profitability
• Inorganic expansion into allied business verticals, product and process innovation and de-risking of the manufacturing and supply chain functions
• Developing alternative sourcing strategies
• Exploring avenues to overcome hurdles and further advance sustainability objectives
• Implementing a comprehensive approach to water management incorporating principles of both conservation and circular economy

Supply Chain Management

Supplier Audits: 97% of significant suppliers underwent on-site CSR audit

Responsible Procurement

• Supplier Code of Conduct
• Sustainable procurement policy
• ESG program for suppliers
• Capacity building programs for suppliers

Climate-Related Risks & Opportunities

Physical Risks

• Extreme weather events
• Floods
• Droughts
• Low levels of water/water scarcity/stress
• Extreme heat and rising temperatures

Transition Risks

• Policy and legal changes (carbon pricing mechanisms, mandates on existing products)
• Technology changes (substitution of existing products, costs to transition to lower emissions technology)

Opportunities

• Development of energy-efficient products
• Increased share of biologicals

Reporting Standards

Frameworks Used: GRI Standards, TCFD, UNGC, BRSR

Certifications: ISO 14001, ISO 45001, ISO 27001, ISO 50001, ISO 17025, NABL, GLP

Third-party Assurance: Price Waterhouse Chartered Accountants LLP

Sustainable Products & Innovation

• Biologicals
• Biopesticides
• Bio-stimulants
• PIOXANILIPROLE

Awards & Recognition

• S&P Global Sustainability Yearbook 2024
• Ecovadis Gold medal
• Global CSR Excellence & Leadership Award
• Apex India Safety Excellence Gold Award
• Karkhana Suraksha Puraskar
• Top 25 Safest Workplaces in India
• Worldstar Global Packaging Awards
• Golden Peacock National Quality Award
• India Business Law Journal’s In-House Counsel Awards

Environmental Metrics

ESG Focus Areas

• Sustainability
• Community welfare
• Environment
• Employee safety
• Water conservation
• Carbon emissions reduction
• Waste management

Environmental Achievements

• Retained water consumption levels per ton of production even with double-digit increase in production
• Initiated programs targeting 25% reduction in CO2 emissions
• Working towards carbon credit from farmers
• Onsite water treatment plants and recycling of water with the target of becoming Zero Liquid Discharge (ZLD)
• Contracted for 500 KW of Solar Power at Jambusar
• Retained Responsible Care® certification from ICC
• Renewable Energy Consumption increased 18x over last 2 years
• ~80% of total incinerable waste disposed through co-processing
• Started journey towards “Zero Landfill Waste” through disposal of ETP Sludge/MEE Salt as raw material for fertilizer company

Social Achievements

• Nil recordable injuries in FY 2021-22
• Increase in CSR expenditure by 20% ~Rs. 137 million
• ~50,000 new farmers programme in FY'21-22
• Conducted Sciences Camp in Gujarat with more than 2500 students
• Formed SHG ‘Momai Maa’ to impart financial education to unprivileged women: ~3500 women underwent training in financial and legal literacy covered through DSR
• ~90,000 people covered through 3 Mobile Medical Units
• Implementation Sustainable Agriculture Practice 700K+ Hectares of Farmlands benefitted by DSR technique thereby saving 1.7 trillion litres of Water annually
• Healthcare, Hygiene and Sanitation Interventions 100K+ Lives impacted using Mobile Healthcare Vans under PI’s ‘Swasthya Seva” Initiative and Blood Bank services
• Women Empowerment 15K+ Women across 82 villages in Bharuch Area benefitted through PI’s women empowerment program
• Education Interventions 18K+ Govt. school children across 125 Schools benefitted through PI’s Learning Enhancement Programmes
• Skill Development 2.0K+ Youth employed through large scale Skill Development Programmes

Governance Achievements

• Fully compliant - no imposition of penalties
• Information & Cyber Security Infrastructure: ISO 27001 certification
• Assured per AA1000 Assurance Standard on ESG indicators
• Cascade shared values of Integrity and Accountability via PI’s Compass
• Robust OHS Management systems: ISO 45001 & 18001 certification
• Restructuring of the Board / Committees with induction of new Independent directors and re-defining the roles
• Integrating ESG initiatives with long term business strategy / plan and make that way of life for all @ PI
• Strengthening team for deeper understanding of applicable regulations

Climate Goals & Targets

Environmental Challenges

• Global supply chain challenges
• Rising input costs
• Lower export incentives

Mitigation Strategies

• Cost passthrough effected both in CSM exports and Domestic during Q3 and Q4 FY22
• Maintained higher inventory levels to avert supply chain disruptions and meet customer supply schedules / continued operations
• Focused initiatives to improve fixed assets capital efficiency of CSM Exports
• Drive higher capital efficiency in FY23 with focused program to reduce Trade Working Capital

Supply Chain Management

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: S&P Global Corporate Sustainability Assessment (CSA)

Certifications: Responsible Care®, ISO 27001, ISO 45001, ISO 18001

Third-party Assurance: AA1000 Assurance Standard

Awards & Recognition

• Golden Peacock Award for Sustainability
• Best Indian Supplier 2021 Award

Environmental Metrics

ESG Focus Areas

• Sustainability
• Environmental Management
• Social Responsibility
• Governance

Environmental Achievements

• Increased renewable energy to >5% of total electricity sourced
• Utilization of paper-based packaging material manufactured from 100% recycled material
• Encouraged replacement of plastic labels with paper labels on products
• 35% of water recycled
• Installed rooftop solar plant in Udaipur to reduce CO2 emissions
• 2x increase in Renewable Energy consumption
• Extensive tree plantation in and around manufacturing units with focus on plantation of endangered species of tree.

Social Achievements

• Nil recordable injuries in 9MFY23
• Increased women and STEM participation in leadership
• 400 children treated under special Project Vriddhi
• Initiated project focusing on improving health and nutrition status of children and adolescents
• Initiated projects supporting children with congenital heart disease born in underprivileged families
• 90% placement of students trained at Employability-linked Skill Development Centre, Jambusar
• ASMITA Project - Improved access to credit and livelihood initiatives in 20 villages
• Organized Free Health Camp on Eye, Dermatology & Dental hygiene in Jambusar
• Operation Nalla Tamara Purugu: An integrated approach for Chilli Black Thrips Management
• Valedictory Function of 10th batch of Vocational Training Program on Chemical Plant Operators in Nadiad
• Preventive Health Care through 3 Mobile Health vans, treated over 10,000 patients

Governance Achievements

• S&P Global Corporate Sustainability Assessment (CSA) ranking improved to 93 percentile
• Retained Ecovadis Gold medal in sustainability achievement 2022 with 97 percentile ranking
• Further de-risked China dependence by development of alternatives in other geographies
• Partnership with top institutions in India and abroad for higher education and deep skilling

Climate Goals & Targets

Environmental Challenges

• Adverse weather conditions coupled with higher channel inventory impacting domestic growth
• Rising input costs

Mitigation Strategies

• Efficiencies and price increases to offset rising input costs
• Favorable product mix and significant increase in operating leverage
• Further de-risked China dependence by development of alternatives in other geographies

Supply Chain Management

Responsible Procurement

• Further de-risked China dependence by development of alternatives in other geographies

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: S&P Global Corporate Sustainability Assessment (CSA), Ecovadis

Certifications: ISO 9001:2015, NABL ISO 17025 Accredited and GLP certified

Awards & Recognition

• Ecovadis Gold medal
• Golden Peacock National CSR Award 2022
• Featured amongst India’s Top 500 Companies 2022
• Corporate Award 2022 for Outstanding Performance
• Certificate of Appreciation, Karkhana Suraksha Puraskar-2022