Godrej Industries Limited (Chemicals) Features In The CDP Climate Change Leadership Index

2024-04-28 04:44:27 Industry

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Bengaluru, 20th February 2024: Godrej Industries Limited (Chemicals) have been ranked on the leadership index in the CDP's Climate Disclosure Index 2023. Besides the public disclosure of our targets, strong governance structure, risk management strategies and measures implemented to mitigate the impacts of climate change we scored higher on our scope 3 emissions and climate change opportunities disclosure that helped us in scoring "A-" in Climate Change disclosures.

CDP is a global non-profit environmental disclosure platform. Over 23,000 companies representing US $67 trillion in market capitalization, disclosed their environmental performance data to CDP in 2023. The information provided by companies is independently assessed using CDP's best-in-class scoring methodology.

Godrej Industries Limited (Chemicals) is one of the few Indian companies who have made it to the leadership index. We have taken several initiatives in the past few years towards achieving our environmental sustainability targets. Some of the key initiatives we have taken during last fiscal year on the climate change front which helped us rank on the leadership index are:

1. Complete mapping and monitoring of Scope 3 emissions

2. Over 68% of energy from renewables

3. Reduced specific emissions per tonne of product by 66% from FY12

Besides Climate Change, we also submitted Water Security and Forests disclosers. We scored "B" in water security and "B-" in forests which is higher than Asia average and Chemicals sector average score of "C" in both disclosures.

Mr. Nadir Godrej, Chairman and Managing Director, Godrej Industries Limited said "We are delighted that Godrej Industries Limited (Chemicals) has received excellent ratings from CDP. As we grow globally, leaving a smaller footprint of our products will make a big difference in fighting climate change. This recognition of our efforts further encourages us to continue making progress in our sustainability journey."

Vishal Sharma, Chief Executive Officer, Godrej Industries Limited says, "Our ethos is rooted in improvement, ensuring that our growth is linked to sustainable practices. The way we run and do business is as important as why we do business. This recognition underscores our belief that people, planet, and profit can be simultaneously served by thoughtful sustainable strategies. Thanks to our teams we are constantly strengthening our environmental performance and we will work consistently on improving and setting industry benchmarks."

About Godrej Industries (Chemicals)

Godrej Industries (Chemicals) is one of the oldest businesses of the Godrej Group and is in the business of manufacturing oleochemicals in India since 1963. Today, we are one of India's leading oleochemicals players and manufacture and market over 100 chemicals for use in more than 24 applications. We are expanding our reach globally and our products are exported to over 80 countries in North and South America, Asia, Europe, Australia and Africa. Our state-of-the-art manufacturing facilities are located in India at Valia in Gujarat and Ambernath in Maharashtra.

Over the last decade, we have diversified our product portfolio to include value added specialty products. We are constantly looking for new ways to collaborate and learn from partners across the globe. At the same time, we are also investing significantly in Research and Development to enhance our capabilities and grow our product portfolio. We recently set up a Research and Development centre at Ambernath and a pilot plant at Valia to develop our new range of products. We have also formed a Technology Excellence Group to build on our technical capabilities and cross-pollinate best practices between our factories.

As a part of Godrej Good & Green, we are deeply committed to building a more inclusive and Greener India. In line with this, we are making sustainability a key part of our manufacturing process and value chain and have set ourselves targets for 2020. Our relentless focus on energy conservation has been consistently recognised by several industry bodies such as the Federation of Indian Chambers of Commerce and Industry (FICCI), Indian Chemical Council (ICC) and Confederation of Indian Industry (CII).