Climate Change
We are working concertedly to introduce climate-resilient operations with a long-term approach. We have an ambition to be carbon neutral by 2050. We worked out a Decarbonisation strategy and exploring ways to reduce emissions. To augment this strategy, the Company has done various investments in energy-saving initiatives, renewable energy options and enhancing reliance on biofuel to promote a climate conscious manufacturing set up and measure the carbon footprint.
To read more on the commitments click here
The work in Climate Change is carried out in three broad themes...
Emission Reduction
Energy Efficiency
Renewable Energy Proliferation
The Sustainability team conducts monitoring and evaluation of the Company's committment every 6 months at operational level.
Emission Reduction
We have robust systems in place to monitor and analyse our GHG emissions. The emissions are independently verified by a 3rd party and reported annually in the Sustainability disclosures. In line with our vision to be carbon neutral, we are working on our decarbonisation strategy globally. We have undergone climate risk assessment as per the Taskforce on Climate Related Financial Disclosure (TCFD) framework. Based on the identified areas, mitigation strategies have been formulated and action plans drawn to put them into action.
As a part of our decarbonisation roadmap, we have a target to reduce our Scope- 1 and Scope- 2 emission intensities by 25% and 35% respectively in FY26 compared to baseline year FY20.
Energy Efficiency
Energy is an important component of production costs and a key factor in determining product costs. Responsible use of energy in operation plays an important role in determining ecologically sustainable economic and natural resource savings. At Apollo Tyres, we utilise a mix of renewable and non-renewable fuel types in our operations. There is also a conscious decision to move towards renewable fuel in all the plants.
The Company has been making efforts to achieve energy efficiency through improvements in its process re-design, conversion and retrofitting of equipment and use of energy efficient equipment.
As the Future of Automotive industry is going to be electric similarly the future of manufacturing needs incorporation of eco-friendly design principles and energy efficient operations including new sustainable warehouses. In this process, Apollo Tyres has begun to usher a Future-oriented and Climate friendly options.
Click here to read - Apollo's Energy Policy
Renewable Energy Proliferation
We have been looking to accelerate the renewable energy usage in its operations. We recently announced our decision to invest in solar power with a guaranteed supply of 40 million clean units for our Chennai plant. Our Limda facility has captive capacities for solar and wind energy, while the Chennai plant sources solar energy from captive capacity and imported wind power as a part of its energy sources. At the Company level, more than 14% of our power requirement in FY23 was met by renewable (wind and solar) sources. We have a target to increase this to 30% by FY26. This augments our vision to pursue a low carbon trajectory.