Materiality
Our priorities and commitments
We regularly review the material issues that impact our ability to create value for the long-term. Our stakeholders’ concern for the environment, emphasis on social inclusion and transparent governance have prompted us to apply the holistic ESG lens to assess our value drivers. Since FY18, our sustainability impact goals have driven responsible growth and boosted capability across our business, helping each of our operations to address business-critical issues related to environmental conservation and social empowerment. These impact areas and goals were created as outcomes of our first materiality assessment undertaken in 2018 and expanded thereafter, to prioritise risks, create shared imperatives and leverage on opportunities to drive a sustainable and socially inclusive future for all. In FY21, we amalgamated the core ESG principles with our sustainability impact goals to deepen value protection and creation of opportunities for all our stakeholders, with due cognisance of an uncertain external environment.
Impact Areas: Integrating Sustainability & ESG Material Issues to Create Shared Value
1. Climate Change
Transitition to carbon neutral operations for all facilities and mitigate our value chain impact in line with the 1.5 degrees scenario
2. Water Stewardship
Become a water steward by replenshing 100% of water consumed in opeartions to ensure that sufficient quantities are available for community usage and agricultural purposes
3. Circular Economy
Reduce overall sustainability footprint by minimising the environmental impacts of plastics across the lifecycle, adopting a 100% recycled packaging portfolio, phasing out 100% PVC in packaging, implementing zero waste to landfill systems across all operating units
4. Responsible Sourcing
Integrate environmental conservation principles, ethical standards and socially-responsible practices throughout the value-chain by capacitating suppliers to commit sustainability goals. By adopting this goal, we intend to stimulate demand for responsible production and consumption practices
8. Corporate Governance & Behaviour
Futureproof value-creation and acclerate excellence through ethical, transparent and agile corporate governance practices that lead with ownership, trust and integrity
7. Social Value Creation
To enable responsible and socially- inclusive growth for the community through a variety of educational outreach initiatives, livelihood sustenance programmes and innovation-led value-creation campaigns
6. Sustainable Coconut
Empower coconut farmers in India to leverage scientific techniques, advanced agriculture trainings and a range of farm-support resources that improve quality of yields as well as boost socio-economic livelihoods
5. Product Responsibility
Reduce the overall environmental and social footprint of products across lifecycle, ensure 100% compliance of product quality, ingredient safety, transparent disclosure on product formulations and accelerate consumer-centric product innovation to improve nutritional value of products
OUR SUSTAINABILITY MANIFESTO
| Material issue | Focus area | Goal | Target year | Achievement (As on March 31, 2021) |
|---|---|---|---|---|
| Responsible resource consumption | Energy | Reduce energy intensity (plant operations) by 50% from FY13 | 2022 | 72% |
| Water | Offset 100% of water used in own operations through capacity creation and conservation measures | Continuous | 100% offset (cumulative capacity creation till date: 2.15 Billion litres) | |
| Climate change | GHG emissions | Reduce GHG emission intensity (Scope 1 and 2) by 75% from FY13 | 2022 | 80% |
| Circular economy | Sustainable packaging | Have ‘Zero PVC’ use in packaging | 2022 | 0.36% |
| Have 100% recyclable, reusable or compostable packaging portfolio | 2025 | 95% | ||
| Reduce packaging intensity by 10% from FY20 | 2030 | Current intensity: 7.15 MT/Crore revenue | ||
| Sustainable supply chain | Responsible sourcing | Certify 20% of critical value-chain partners on level 1 of responsible sourcing | 2022 | 38% |
| Community development | Farmers | Increase farmer beneficiaries by 5% y-o-y | Continuous | 17,997 new farmers; cumulative 39,040 enrolled; 88% increase in no. of beneneficiaries from FY20 to FY21 |
| Product responsibility | Consumer health and safety | Ensure 100% adherence to all product compliance | Continuous | We continue to adhere to all product related compliances |
Our current 5-year Sustainability Manifesto is due for completion in 2022. We have already achieved all of our targets set for 2022 and are gearing up to declare the 2030 commitments by the end of FY22.
