Page 30 - IMDR JOURNAL 22-23

IMDR’s Journal of Management Development and Research 2022-23

DR. REDDY’S LAB

In 2010, the pharmaceutical giant identified its first set of six ESG goals for the following decade. By
2020, it had achieved three goals: full water consumption, waste reduction, and the elimination of
hazardous waste, as well as three partial goals: water neutrality, energy consumption, and renewable
energy. It was the first pharmaceutical company in India, and the third in Asia, to join the Science-
based Targets initiative (SBTi) to reduce carbon footprint. It is s the only Indian pharma company to be
featured on the Bloomberg Gender-Equality Index, as well as the S&P Corporate Sustainability
Assessment, the Dow Jones Sustainability Index, and the Frost & Sullivan TERI. Its ESG targets for
2030 include using 100% renewable energy, being carbon neutral in direct emissions, reducing indirect
carbon emissions by 12.5%, and becoming water-positive by 2025.
It aims to triple its existing reach tits o serve over 1.5 billion patients by 2030, with 25% of new
launches being first to market by 2027. Internally, it aspires to contribute to a more equitable and
socially inclusive world by having at least 35% women in senior leadership. In terms of governance, it
is working to build trust with its stakeholders.
"They renewed their goals for the next decade this year." Today, commitment to ESG necessitates a
mindset shift: from doing "less bad" to doing "maximal good," from incremental to bold, from focusing
on mandatory corporate social responsibility to making sustainability core to business and strategy,
according to G.V. Prasad, Co-Chairman & Managing Director, Dr Reddy's.

ULTRATECH CEMENT:

The cement industry is a major source of CO2. Manufacturers, on the other hand, are taking several
steps to reduce emissions. They are increasing solar and wind power generation capacity, as well as
utilizing every potential of the plant's waste heat recovery system (WHRS). They are also advocating
for blended cement for restoration and thus emissions. The industry leader, UltraTech cement, has
committed to Net Zero Concrete by 2050 under the GCCA Climate Ambition 2050 and to the Science
Based Targets Initiative (SBTi) of reducing Scope 1 CO2 intensity by 27% by 2032 from 2017 levels.
their collaboration with customers resulted in a reduction of more than two million tonnes of CO2 in
FY22 alone. their decarbonization efforts have resulted in a 9.1% decrease in Scope 1 CO2 emissions.
Apart from that, it has implemented measures such as rainwater harvesting and water recharge within
its manufacturing units (mines, plant areas, and unit residential colonies), as well as watershed projects
in the local communities surrounding the units, resulting in the return of 73+million m3 of water to
nature in FY22 alone, making it 3.8 times water positive.
In 2019, it launched 'Project Sahyog,' a sustainable supply chain that incorporates ESG criteria. "Their
emphasis is on 'accelerating ESGbility, strengthening Sustainability,' in which they report on
comprehensive measures taken and planned for the future to improve the ESG quotient and ability to
sustain." They have now begun the ABG's 'Sustainability Journey 2.0.' they have pledged to reduce
CO2 emissions by 22.2% by 2030.

MINDTREE

The IT firm achieves high ESG goals and has won several awards for it. Its campuses are all zero
discharge zones. It implements the WOW initiative, which is a programme in which recyclable waste is
scientifically disposed of and recycled. It uses as little fresh water as possible thanks to its 3R strategy
(reduce, reuse, recycle). Rainwater harvesting and the installation of recharging pits at its Bengaluru
facility assisted it in reducing private water purchases by 12.370 KL in FY22. It plans to invest in green
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