Climate Change Data

Environmental Metrics

ESG Focus Areas

• Environment
• Social
• Governance

Environmental Achievements

• Reduced carbon emissions by using alternate renewable energy (11% in Lakhmapur Works and 6.7% in Podanur Works)
• Replacing a part of furnace oil in boilers with biomass briquettes (6062 MT of Briquettes replacing 2638 MT of FO)

Social Achievements

• Implemented ‘Neev’, ‘Pehchan’ and ‘Kaushal’ programs for Boards and Panel business for enhanced engagement and a uniform experience for PAN-India contractors.
• Empowering Communities through CSR initiatives in Healthcare, Livelihood & Education, and Environment
• Everest Healthy Child Program educated 30,725 students on ill-effects of tobacco
• Everest Skill Training Program benefitted 1,139 students
• 157 Employees volunteered in various awareness drives

Governance Achievements

• Maintained highest standards of governance
• Implemented ‘Six Sigma Projects’, ‘Zero Defects’, and the ‘First Time Right’ (FTR) initiatives to improve quality and reduce cost

Climate Goals & Targets

Environmental Challenges

• Raw Material Price Volatility (Chrysotile fibre, cement, pulp and steel)
• Availability of Chrysotile Fibre and Pulp (due to Russia-Ukraine war)
• Increased Competition in Fibre Cement Board (FCB) Business
• Dependence on Roofing Business
• Uncertainty Over Use of Chrysotile Fibre
• COVID-19 disruptions
• Increase in steel prices
• Erratic supplies and low availability of manpower

Mitigation Strategies

• Increased product prices, implemented efficiency initiatives like Six Sigma
• Deployed various de-risking initiatives to ensure continued supply of raw materials
• Improved awareness amongst influencers and customers
• Diversified product portfolio
• Developed and strengthened portfolio of non-asbestos products
• Ensured > 99.5% vaccination for employees and contract workmen
• Efficient sourcing of steel and buying items closer to factory or job site

Supply Chain Management

Responsible Procurement

• Sourcing raw materials from nearest resources, using fly ash from thermal power plants

Climate-Related Risks & Opportunities

Sustainable Products & Innovation

• Rapicon Panels
• Artewood
• Hi-tech Boards

Awards & Recognition

• Gold Award for SMED Stream and Poka-Yoke Stream
• Gold Award for Renovative Category at the 41st CII National Kai-Zen Competition 2021

Environmental Metrics

ESG Focus Areas

• Climate Change
• Water Management
• Waste Management
• Employee Well-being
• Diversity & Inclusion
• Supply Chain Sustainability
• Community Engagement

Environmental Achievements

• Reduced asbestos in raw material mix from 10.6% to 8.4%
• Installed solar panels across facilities with a total capacity of 2800+ KW
• 100% of green waste recycled
• Zero discharge plants
• Launched Everest Evercool roofing sheet with high SRI (up to 89%) reducing ambient temperature by up to 7°C

Social Achievements

• Launched Everest NextGen-Spotlight on Sustainability competition engaging 680 architects
• Various skill development programs training 490 youth
• Empowering communities through initiatives focusing on preventive healthcare, skill development, sports training and community development
• 35 women employees recruited (11% of total recruits)
• Launched ASMI, a Diversity and Inclusion platform

Governance Achievements

• Implemented a robust risk management process to actively identify risks and implement mitigation measures
• Aligned with regulatory demands and industry practices through consistent reviews and updates of policies and procedures
• Established an Ethics Helpline managed by an independent professional organization

Climate Goals & Targets

Environmental Challenges

• Rising labour and cement costs
• Escalated prices of imported asbestos fibre
• Geopolitical tensions disrupting supply chains
• Sluggish market movement and subdued demand
• High inflation in asbestos fibre prices
• Volume delivery challenges in Boards & Panels
• Low volumes in Steel business

Mitigation Strategies

• Enhanced operational efficiency and implemented cost-saving measures
• Diversified fiber supplies
• Proactive engagement strategy with customers (marketing campaigns, channel penetration)
• Launched targeted digital campaigns
• Leveraged consumer insights to refine product offerings and tailor marketing strategies
• Implemented smart pricing and value additions in Boards & Panels
• Cost-saving measures in manufacturing and freight, reductions in discretionary spending
• Optimized working capital by reducing inventories

Supply Chain Management

Responsible Procurement

• Sustainable sourcing policy
• Supplier ethics
• Code of conduct
• Mechanism for reporting breaches

Climate-Related Risks & Opportunities

Physical Risks

• Climate Impacts affecting society and businesses

Transition Risks

• GHG reduction expected by Govt, Investors and customers
• Changes in existing regulations/ emerging regulations impacting the sourcing of materials, emissions, waste generation, storage and during the use or disposal of finished goods

Opportunities

• Increasing demand for Green Buildings
• Preference for energy-efficient green buildings

Reporting Standards

Frameworks Used: GRI, BRSR

Certifications: ISO 9001:2015, ISO 14001:2015, ISO 45001:2018, GreenPro, GRIHA

Sustainable Products & Innovation

• Everest Evercool
• Bio clean board

Awards & Recognition

• Sustainable Brand of the Year 2023
• CII Platinum Awards in 18th Six Sigma National Competition
• Gold Award Under Apex India Occupational Health and Safety Award 2022
• The Iconic Brand of the Year 2023