Materiality assessment is an important tool for Marico to identify and prioritise issues that are of prime importance to our business as well as to our stakeholders. It helps us align our business strategies to various risks and opportunities and influence our ability to create value in the short, medium and long terms. During FY18, we had undertaken a materiality assessment exercise, which had enabled us to identify key issues that impact our performance. In FY20, we reviewed the top quartile material issues and included additional focus areas that have gained importance due to recent changes in the business and regulatory landscape.
Top quartile material issues:
Across all material focus areas, we have identified and declared ambitious sustainability goals that drive Marico’s growth and approach to value creation.
^ ‘Circular Economy’ is introduced as a new material issue, considering the focus on plastics and its waste management by the regulatory and social system
MARICO SUSTAINABILITY GOALS MANIFESTO
| Material issue | Focus area | Goal | Target year | Achievement (As on March 31, 2020) |
Disclosure section |
Responsibleresource consumption |
Energy | Reduce energy intensity (plant operations) by 50% from FY13 | 2022 | 32% | Environment |
| Water | Offset 100% of water used in own operations through catchments and conservation measures | Continuous | 3.2 times water harvest capacity created this year | Community | |
Climate change
|
GHG emissions | Reduce GHG emission intensity (Scope 1 and 2) by 75% from FY13 | 2022 | 68% | Environment |
Circular
economy
|
Sustainable packaging | Have ‘Zero PVC’ use in packaging | 2022 | 0.14% | Environment |
| Have 100% recyclable, reusable or compostable packaging portfolio | 2025 | 95% | Environment | ||
| Reduce packaging intensity by 10% from FY20 | 2025 | Declared this year | Environment | ||
Sustainable
supply chain
|
Responsible sourcing | Certify 20% of critical value-chain partners on level 1 of responsible sourcing | 2022 | 22% Certification completed | Value-chain partners |
Community
development
|
Farmers | Increase farmer beneficiaries by 5% y-o-y | Continuous | 9,550 New farmers enrolled this year | Community |
Product
responsibility
|
Consumer health and safety | Ensure 100% adherence to all product compliance | Continuous | We continue to adhere to all product related compliances | Consumer |