Climate Change Data

Environmental Metrics

ESG Focus Areas

• Circular Economy
• Environmental Stewardship
• Employee Well-being
• Community Engagement
• Responsible Supply Chain
• Corporate Governance

Environmental Achievements

• Successful commissioning and ramp-up of the greenfield Indonesia PET film project, resulting in lower energy costs, waste, and carbon footprint per unit.
• Commissioned new offline coating lines in India and Thailand.
• Developed ‘chemical recycling’ process to manufacture Sarafil rPET polyester films with up to 90% post-consumer recycled content (saving over 60% emissions compared to virgin PET).
• Developed Sarafil Bio-PET with 32% bio component, resulting in 20% reduced CO2 emissions.
• Developed monolayer structures for packaging applications, facilitating recyclable packaging.
• Achieved zero water discharge at Khatima and Bazpur plants in India.
• Reduced energy usage by implementing energy-efficient production methods (e.g., replacing conventional air compressors with VSD driven ones, revamping hot oil line insulation, using LED lighting).

Social Achievements

• Ecovadis sustainability rating – Silver award (Polyplex Turkey and Polyplex India (Khatima)) and Bronze awards (Polyplex Thailand).
• Sedex compliance.
• Improved employee retention through various programs and benefits.
• Provided training and skill development opportunities for employees.
• Zero cases of near-miss work-related injuries during the reporting period.
• Substantial reduction in man-days lost compared to the previous year.
• No high consequence work-related injury or fatality during the last three years.
• Various community initiatives including school support, blood donation drives, and flood relief efforts.

Governance Achievements

• Strong governance framework with various board committees.
• Developed and implemented policies covering ethics, bribery, and corruption.
• No cases of corruption reported during the reporting period.
• Formal annual performance appraisal system for employees.
• Integrated risk management approach.

Climate Goals & Targets

Environmental Challenges

• Competition and business cycle risk.
• Price volatility risk.
• Trade defence risk.
• Liquidity and solvency risk.
• Exchange rate and interest rate risk.
• Credit risk.
• Project implementation risk.
• Geographic risk.
• Regulatory risk.
• Environmental and sustainability risk.
• Climate change related physical and regulatory risks.

Mitigation Strategies

• Increased share of High Value-Added (HVA) film in sales portfolio.
• Careful monitoring of global and local input price trends.
• Geographical and product diversification.
• Free cash flows and unutilized credit lines.
• Balanced loan portfolio and shifting floating rate debt to fixed rate.
• Strong internal credit risk management framework and credit insurance policy.
• Dedicated project management team and corporate management oversight.
• Evenly spread installed capacity among manufacturing locations.
• Strict conformance to relevant USFDA and EC directives.
• Development of sustainable solutions (higher rPET content, single substrate packaging, bio-based solutions).
• Replacement of oil base heating system with a rice husk heating system.

Supply Chain Management

Responsible Procurement

• Supplier code of conduct.

Climate-Related Risks & Opportunities

Physical Risks

• Changes in weather patterns affecting supply chain distribution.

Transition Risks

• Regulatory changes

Opportunities

• Transition to renewable raw materials, low-emission direct energy, and improved water utilization.

Reporting Standards

Frameworks Used: GRI Standards: Core option, SASB Containers and Packaging Standards

Certifications: ISO 9001, ISO 14001, OHSAS 18001/ISO 45001, ISO 22000/BRC-IOP/FSSC-V5, ISO 50001

Third-party Assurance: TUV India Private Limited (TUVI)

Sustainable Products & Innovation

• Sarafil rPET polyester films
• Sarafil Bio-PET
• Monolayer packaging structures
• Recyclable Monomeric PET packaging structures

Awards & Recognition

• Ecovadis Silver awards (Polyplex Turkey and Polyplex India (Khatima))
• Ecovadis Bronze awards (Polyplex Thailand)

Environmental Metrics

ESG Focus Areas

• Environmental Stewardship
• Workforce Development
• Community Engagement
• Responsible Governance
• Product Sustainability
• Supply Chain Management

Environmental Achievements

• GHG reduction of 3276 metric tons CO2eq in FY 2021-22 and 5269 metric tons CO2eq in FY 2022-23 due to PCR Based Film.
• Introduced 2147 metric tons of recycled content film and 186 metric tons of biodegradable film in FY 2021-22 and 3752 metric tons of recycled content film and 165 metric tons of biodegradable film in FY 2022-23
• Achieved zero water discharge at Khatima and Bazpur plants in India.
• Implemented energy initiatives resulting in savings of ~INR 14.6 million.

Social Achievements

• 541 new employee hires in FY22-23.
• INR 12800000 investment in community and social projects in FY22-23.
• Zero fatalities across all locations for the last two years.
• Average 7 hours of employee training in FY22-23.

Governance Achievements

• Established various board committees (Audit, Risk Management, Stakeholder Relationship, Nomination and Remuneration, CSR).
• Implemented robust internal control mechanisms and Enterprise Risk Management (ERM).
• Developed and implemented various corporate policies (CSR, Related Party Transactions, Dividend Distribution, Responsible Procurement, Human Rights, Nomination and Remuneration, Supplier Code of Conduct).

Climate Goals & Targets

Environmental Challenges

• Oversupply situation in the industry impacting capacity utilization and margins.
• Rising temperatures, extreme weather events impacting operations and supply chains.
• Highly regulated sector with continual scrutiny by regulatory bodies.
• Market presence affected by domestic and international competition.
• Potential project implementation delays.

Mitigation Strategies

• Evenly spread operations across five manufacturing locations.
• Sustainable solutions (higher rPET content, single substrate packaging, bio-based solutions).
• Strict compliance with USFDA and EC directives.
• Cost improvement initiatives, enhanced manufacturing efficiency, strengthening customer relationships.
• Dedicated project management team, corporate management oversight, and contractual protections.

Supply Chain Management

Supplier Audits: ~30-25 suppliers per year

Responsible Procurement

• Supplier Code of Conduct emphasizing ethical standards, labor practices, environmental protection, and business integrity.

Climate-Related Risks & Opportunities

Physical Risks

• Rising temperatures, extreme weather events

Opportunities

• Development of energy-efficient products

Reporting Standards

Frameworks Used: GRI Standards

Certifications: ISO 9001, ISO 14001, ISO 45001, FSSC 22000/BRCGS, ISO 50001

Sustainable Products & Innovation

• Sarafil rPET polyester films (up to 100% PCR content)
• Biodegradable films
• Easy and Straight tear PET film
• Twist N Wrap innovation

Awards & Recognition

• Ecovadis CSR Rating Silver Awards (Polyplex Türkiye)
• Ecovadis CSR Rating Bronze Awards (Polyplex India, Polyplex Thailand)
• Green Innovation Award (Polyplex Thailand)
• Prime Minister’s Award for Innovation – Chemical Recycling (Polyplex Thailand)
• Best Public Company of 2021 – Industrial Group (Polyplex Thailand)
• Thailand Greenhouse Gas Management Organization recognition (Polyplex Thailand)
• Green Industry Level 3 (Polyplex Thailand)