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. Various investments are made in energy-saving initiatives and in renewable energy to promote a climate conscious manufacturing set up and measure the carbon footprint.
The work in Climate Change is carried out in three broad themes...
Emission Reduction
Water Use Efficiency
Renewable Energy Proliferation
Waste Conscious Operations
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.
Water Use Efficiency
We are deeply aware of the scarcity of water availability as a natural resource and lay utmost importance to prudent use of water. We have taken several steps to ensure our reuse and recycling within the operations. We monitor the specific water withdrawn per tonne of product and have a roadmap to reduce it over a period. Our water footprint is independently verified by a 3rd party and is a part of the annual Sustainability disclosures. In line with its mandate, we also works extensively within communities to build common water assets and raise awareness on water conservation.
We have a target to improve our water withdrawal intensity by 25% in FY26 compared to FY19 baseline.
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.
Waste Conscious Operations
We strive towards improving our environmental performance by reducing pollution including waste management, usage /disposal of toxic and hazardous chemicals and other identifiable forms of pollution. Our manufacturing operations use state-of- the-art technology to ensure cleaner operations. Waste generated from the operations included hazardous and non-hazardous types in solid and liquid forms.