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Kansai Nerolac
The Story Till Date
ESG Approach
Materiality Impact:
Environmental
Reducing our Environmental Impact and Sourcing Sustainably
DECARBONISATION
Approach:
- Increase contribution of energy from renewable sources
- Adopt targets in line with Science-Based Target initiative (SBTi)
- Undertake risk assessment as per Taskforce on Climate-related Financial Disclosures (TCFD) framework
- Reduce Specific Power Consumption (SPC)
- Green Belt Development
Commitment:
- RE 70 (70% Electricity from Renewable source) by 2030
- Carbon Neutrality
- Reduce Specific Power Consumption
RESOURCE USE
Approach:
- Reduce our water footprint by increasing water efficiency, rainwater, and recycled water consumption within our operations
- Improving water availability in the communities where we operate through watershed development projects
- Co-processing of waste across all plants
- Incremental Specific Water Consumption (SWC) and Specific Hazardous Waste Generation (SHWG) reduction targets
- Leveraging our R&D strength to develop green, sustainable, and responsible products
Commitment:
- Being Water Positive by FY 2024-25
- Divert waste away from landfill
- Increase sustainable product portfolio
Social
Empowering People and Communities
QUALITY OF LIFE
Approach:
- Community Development
- Promote Equality
- Employee Engagement
- Promote Human Rights
- Robust Code of Conduct
- Dedicated Internal Complaints Committee (IC)
- Promote Safe and Healthy Working Conditions
Commitment:
- Zero human rights abuse
- Zero incident-accident
- Foster behavioural-based safety culture
DIVERSITY
Approach:
- Fostering diversity and nurturing inclusivity by promoting advancement for our colleagues, culture, and communities
- Ensured no discrimination on the basis of gender, race, age, religion and ethnicity
Commitment:
- Achieve 2.5% gender diversity by Mar’24
- Achieve 0.25% for differently abled by Mar’24
Governance
Managing capital and risks
GOVERNANCE
Approach:
- Enterprise Risk Management
- Board Oversight
- Statutory Compliances
- Fair Practices across Value-Chain
Commitment:
- Zero non-compliance
- Reduce Enterprise Risk
Assurance:
Our disclosures on Key ESG parameters are independently assured by a third-party external agency (M/s Aneja Associates) based on International Standard on Assurance Engagement (ISAE) 3000. Additionally, the assurance has been given against the disclosures’ adherence to the GRI’s Sustainability Reporting Standards. The assurance report can be accessed at our sustainability web-link:
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