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Kansai Nerolac
The Story Till Date
ESG Approach
Progress on our Materiality:
Environmental
Reducing our Environmental Impact and Sourcing Sustainably
Materiality 1: Decarbonization
ENERGY MANAGEMENT
Where we are- ✔ 30% power from Renewables (Solar & Wind)
- ✔ 49% Energy from Renewables (Solar, Wind, Biofuels)
- ✔ Sustaining our consumption of heat and steam through biofuels and biomass-based boiler resulting in 100% process heat & steam from renewables
Future Direction
- ✔ 70% Electricity (RE70) from Renewable source by 2030
EMISSION MANAGEMENT
Where we are- ✔ Detailed greenhouse gases (GHG) inventorization (Scope 1,2,3) and setting up FY 2018-19 as baseline year.
- ✔ 8% reduction in Scope 1+2 emissions from Base Year FY18-19 and Intensity reduction by 22% over Base year.
- ✔ 11% Scope 3 Intensity Reduction from Base Year FY18-19
- ✔ Submitted GHG reduction targets in line with Science Based Target initiatives.
Future Direction
- ✔ Approval of Targets by SBTi
- ✔ Roadmap for Decarbonization
CLIMATE CHANGE
Where we are- ✔ Adopted TCFD framework and evaluated various climate-related risks as per the framework.
- ✔ Integrated Climate risk with Enterprise Risk Management Framework.
- ✔ Green Belt development year on year within the plant and outside areas.
Future Direction
- ✔ Efficient resource use (Water, energy)
- ✔ Sustainable product development
- ✔ Continue risk mitigation in value chain
Materiality 2: Resource Use
WATER
Where we are- ✔ Replenished 100% of freshwater withdrawal to the community we operate.
- ✔ 28 % reduction in Our Specific Water Consumption (Manufacturing Facilities) since FY 2018-19.
- ✔ Usage of recycled water & rainwater (25% of total water consumption in FY22-23)
Future Direction
- ✔ Being water positive
- ✔ Emphasis on rainwater harvesting and judicious usage of fresh water.
WASTE
Where we are- ✔ Zero Liquid discharge (major manufacturing facilities)
- ✔ Our Specific Hazardous Waste Generation (Manufacturing Facilities) has decreased by 8.85 % since FY 2018-19.
- ✔ 7000+ MT of post-consumer plastic waste collected and recycled.
- ✔ Reduced incoming plastic waste and No use of single use plastic.
Future Direction
- ✔ Zero waste to landfill.
- ✔ Continue reducing Specific Hazardous waste generation.
- ✔ Comply to EPR Targets.
PRODUCT STEWARDSHIP
Where we are- ✔ Low VOC paints.
- ✔ Lead free paints and RMs free from heavy metals
- ✔ REACH/ Green Product certifications.
- ✔ Identification of hazardous content as per SVHC and REACH XVII restrictions.
Future Direction
- ✔ Increase Renewable content.
- ✔ Reduce hazardous materials.
CIRCULAR ECONOMY
Where we are- ✔ Integrated circular economy criteria into all our processes via reuse or recycling.
- ✔ Bio-composting of Food waste across all major manufacturing facilities.
- ✔ Co-processing of hazardous waste (over 50%) to cement kilns
Future Direction
- ✔ Life Cycle Assessment (LCA)
RESPONSIBLE PRODUCT
Where we are Product Packaging contains:- ✔ Safe & Responsible usage
- ✔ Relevant Environment parameters
- ✔ Use of recycled plastic in packaging
Future Direction Declaring:
- ✔ Relevant social parameters
- ✔ Recycling & safe disposal
Social
Empowering People and Communities
Materiality 3: Quality of Life
HUMAN RIGHTS AND EQUALITY
Where we are- ✔ Zero Human Rights Abuse
- ✔ Collective Bargaining
- ✔ Fair & Transparent Grievance Redressal mechanism
- ✔ Prevention of child labour or forced labour
- ✔ Commitment to Non-discrimination
- ✔ Internal complaint committee
- ✔ Fair dealing with Business Partners
Future Direction
- ✔ Risk Assessment & Assurance framework
OCCUPATIONAL HEALTH & SAFETY
Where we are- ✔ Zero incident/accident across plants
- ✔ Zero Lost Time Injury Frequency Rate (Per Million Man-Hours worked)
- ✔ Cross function Safety Committee framework & Emergency Response
- ✔ Regular Safety Audits and Trainings
- ✔ ISO45001 certification at major facilities
- ✔ Behavioural Based Safety trainings & assessments
Future Direction
- ✔ Strengthen safety practices by applying insights gained from the GSQ audit findings
COMMUNITY
Where we are- ✔ 65000+ Lives touched by CSR activities.
- ✔ 15% employee participation in CSR activities
- ✔ 3rd Party Impact Assessment and assurance
- ✔ Livelihood & Skill Enhancement
- ✔ Community Development
- ✔ Promoting Education
- ✔ Environmental Sustainability
- ✔ Healthcare & sanitation
- ✔ Restoration of Heritage sites
Future Direction
- ✔ To continue being a responsible corporate by partnering in the development of the communities
EMPLOYEE ENGAGEMENT & WELLBEING
Where we are- ✔ Dream Employer of the Year' award for 2022.
- ✔ Restricted Stock Units for employees.
- ✔ Wellness Corner App to support our employees’ physical, mental, and emotional health.
- ✔ Great Place to Work certified.
- ✔ Step challenge for employees.
- ✔ Digital Learning platform Percipio for upskilling.
- ✔ Introduced TAJ, a focused intervention to build talent pipeline across functions.
Future Direction
- ✔ Continue to prioritize people centric approach
CUSTOMER SATISFACTION
Where we are- ✔ 88.8 Customer satisfaction index
- ✔ Consumer complaint Redressal mechanism
- ✔ Engage only reputable advertising agencies that are members of ASCI (Advertising Standard Council of India)
Future Direction
- ✔ Increase consumer satisfaction index.
Materiality 4- Diversity
GENDER
Where we are- ✔ Women employees account for 3.2% of our permanent workforce.
- ✔ Fostering diversity and nurturing inclusivity by promoting advancement for our colleagues, culture, and communities.
Future Direction
- ✔ Monitor the gender diversity at organizational, Management and functional level
INCLUSIVITY
Where we are- ✔ Access audit completed for New HO premises in Mar’23.
- ✔ Established target for employing differently abled (0.25%) by Mar’24.
Future Direction
- ✔ All new workplaces to be accessible for people with disability.
AGE & NATIONALITY
Where we are- ✔ Diverse Mix of employees in different age brackets.
- ✔ 25% of employees is below 30 years
- ✔ 8% of employees above 50 years
- ✔ No discrimination due to age, Nationality
Future Direction
- ✔ Encourage participation of employees across India and International subsidiaries
Governance
Managing capital and risks
Materiality 5: Governance
CORPORATE GOVERNANCE
Where we are- ✔ Risk Committee at Board level for Enterprise Risk Management
- ✔ Board Oversight & Management framework on ESG
- ✔ Corporate Governance related Disclosures
- ✔ Non-financial agenda in Board Meetings
- ✔ 3rd party impact assessment for CSR
- ✔ 3rd party assurance for ESG
Future Direction
- ✔ ESG assessment of Value chain Partners
RISK MANAGEMENT
Where we are- ✔ Board Risk Committee
- ✔ Robust Organization wide Risk Management Framework
- ✔ Building Risk Culture
- ✔ Identified Emerging Risks
- ✔ Climate Change Risk Management Incorporated in our Enterprise Risk Management
- ✔ Business continuity policy
Future Direction
- ✔ Promote and Build Risk culture.
IT/ CYBER SECURITY
Where we are- ✔ Board oversight on cyber security
- ✔ Far DR set up ready
- ✔ Vulnerability & Penetration testing (VAPT) certification
- ✔ Risk Monitoring and Mitigation by 3rd party
Future Direction
- ✔ Increase Employee Awareness
- ✔ Regular audits
INNOVATION/ IP MANAGEMENT
Where we are- ✔ World-class R&D
- ✔ Global Technical Collaborations
- ✔ Unique / Technology Differentiators
- ✔ Customer Education
- ✔ Sustainable Product Development
Future Direction
- ✔ Continue to be a pioneer in creating best-in class, sustainable and user-friendly products
COMPLIANCE/ TAX STRATEGY
Where we are- ✔ Compliance of statutory obligations, not only in letter but in spirit, in all jurisdictions in which the company has its operations.
- ✔ Not to use secrecy jurisdiction or tax havens for tax avoidance.
Future Direction
- ✔ Continue to comply in letter and spirit
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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