GRASIM INDUSTRIES LIMITED
| Grasim Industries Limited |
| ESG Data Book 2023-24 |
Contents |
|
Product Stewardship | 12 |
Climate Advocacy and Industry Engagement | 13 |
Biodiversity | 14 |
Social | 16 |
Labour Practice indicator | 16 |
Human Rights | 17 |
Human Capital Development | 18 |
Talent Attraction and Retention | 20 |
Occupational Health and Safety | 22 |
Customer Satisfaction Measurement | 22 |
Reference | 23 |
2
Grasim Industries Limited
ESG Data Book 2023-24
About the Company
Grasim Industries Limited (hereafter referred to as Grasim, 'We', 'Our' or 'the Company') is pleased to present the Company's ESG Data Book for Financial Year (FY) 2023-24. Grasim Industries Limited, a flagship Company of Aditya Birla Group (ABG), founded in 1947, has evolved into a powerhouse conglomerate, making advances in the sectors of Cement, Cellulosic Staple Fibre, Chemicals and Decorative Paints. With a proven track record of creating large and growing businesses and brands, Grasim has firmly entrenched itself in the evolving India growth story while building a diversified business model with strong operational and financial performance. The company is a prominent producer of Cellulosic Staple Fibre (CSF), globally and in India. CSF is a subset of global markets of man-made textile fibres. Also, we are one of the India's largest manufacturers of Chlor-Alkali and Speciality Chemicals (Epoxy Polymers and Curing Agents). Through our subsidiaries, UltraTech Cement, Aditya Birla Capital and Aditya Birla Renewables, we are also India's premier cement producer, one of the leading diversified financial services players and a clean energy solutions provider, respectively. We also have significant presence in Sustainable Textiles such as Linen & Cotton Fabrics and Woolen Yarn. We have entered into two high growth businesses, namely Paints and B2B E-commerce for Construction Materials. At Grasim, there is an endeavour to create sustainable value for 45,000+ employees, 2,52,000+ shareholders, society, and customers. The company reported consolidated net revenue of ₹1,30,978 Cr. and EBITDA of ₹20,837 Cr. in FY 2024.
About the ESG Data Book
Grasim Industries Limited is pleased to present the Company's ESG Data Book for Financial Year 2023-24.
Annually, Grasim reveals its significant financial and sustainability disclosures, as well as its performance and accomplishments, using a comprehensive annual report encompassing the Global Reporting Initiative's (GRI) index and Business Responsibility and Sustainability Report (BRSR). This ESG data book is an extension of our Integrated Report FY 2023-24 with additional disclosures aligned to global reporting frameworks.
Scope & Boundary
The ESG Data Book is compiled to showcase the ESG performance of Grasim and its prominent subsidiary, UltraTech Cement Limited, encompassing over 75% of the total revenue. Grasim has released its Integrated Annual Report, detailing the ESG performance of the company on a standalone basis. Similarly, separate Integrated Report is published by UltraTech Cement.
The ESG Data Book presents last four years (FY 2020-21, FY 2021-22, FY 2022-23, and FY 2023-24) consolidated numbers for environmental and social KPIs of Grasim Industries Limited inclusive of UltraTech Cement Limited.
3
Grasim Industries Limited
ESG Data Book 2023-24
Governance & Economic
Corporate Governance
-
Board Effectiveness
As mentioned in the corporate governance section of Integrated Annual Report FY 2023-24, total number of meetings held during the tenure was six, out of which attending minimum one meeting is mandatory in a year as per Company's Act 2013. Thus, the minimum meeting attendance requirement for FY 2023-24 was 16.67 %, against which the average board meeting attendance for Grasim was 92%.
(Refer Integrated Annual Report FY 23-24 pg. 233 for more details of attendance of Directors at the Board Meetings)
Risk and Crisis Management
❖ Risk Governance
|
|
|
| Please indicate name and |
|
| Reporting line: please indicate |
|
| Particulars |
|
|
|
| who the person or committee |
| |
|
|
| position |
|
|
| ||
|
|
|
|
| reports to |
| ||
|
|
|
|
|
|
| ||
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
| Highest ranking person with |
| Mr. Hemant Kadel |
| Mr. Pavan Jain | |||
| dedicated risk management |
|
| |||||
|
| Senior President |
| |||||
|
|
| Chief Financial Officer | |||||
| responsibility on an operational |
|
| |||||
|
| Corporate Finance Division |
| |||||
|
|
|
|
| ||||
| level (not CEO) |
|
|
|
| |||
|
|
|
|
|
|
| ||
| Highest ranking person with |
| Mr. Viral Shah |
| Mr. Hemant Kadel | |||
| responsibility for monitoring and |
|
| |||||
|
|
| Senior President | |||||
|
| General Manager |
| |||||
| auditing risk management |
|
| |||||
|
|
| Corporate Finance Division | |||||
|
| Corporate Finance division |
| |||||
| performance on an operational |
|
| |||||
|
|
|
|
| ||||
|
|
|
|
|
|
| ||
| level (not CEO) |
|
|
|
|
|
|
Materiality
-
Materiality Analysis
At Grasim, we conduct the materiality analysis once in every two years or frequent if needed. Last year, Grasim carried out a double materiality assessment. The result of the assessment is approved by senior management.
Materiality assessment is integrated in company's overall enterprise risk management process.
(Refer Integrated Annual Report FY 23-24 pg. 78-79 and 80 for more information on "Materiality Assessment" and "ERM" respectively)
Business Ethics
-
Codes of Conduct: Systems/Procedure
To establish a strong foundation for ethical behaviour, every new employee is required to adhere Grasim's code of conduct upon joining the organization. In addition, the Grasim regularly conducts mandatory training sessions to reinforce employees' understanding of the code's principles and guidelines. The code of conduct covers a comprehensive range of essential clauses, each addressing various aspects of professional behaviour. These include clear directives on information security, anti-corruption and anti-bribery practices, the promotion of non- discrimination and prevention of harassment, guidelines for engaging in political and charitable activities, maintaining health, safety, and environmental standards, managing conflicts of interest, and adhering to a general code of conduct in daily duties. During the annual performance evaluation period, a thorough assessment is conducted to ensure compliance with the organization's code of conduct. Employee remuneration is tied to adherence to this code, with violations having a direct impact on compensation. - Political & Charitable Contribution
During the fiscal year 2023-24, Grasim has not made any charitable contributions, sponsorship, financial contributions to any political party.
4
|
|
| Grasim Industries Limited | |||
|
|
|
| ESG Data Book 2023-24 | ||
❖ Reporting on Breaches |
|
|
|
| ||
|
|
|
|
|
|
|
|
| Reporting Areas |
| FY 2024 |
|
|
|
| Corruption & Bribery |
| 0 |
|
|
|
| Discrimination & Harassment |
| 5 |
|
|
|
| Customer Privacy Data |
| 0 |
|
|
|
| Conflict of Interest |
| 0 |
|
|
|
| Money Laundering or Insider trading |
| 0 |
|
|
Supply Chain Management |
|
|
|
| ||
❖ KPIs for Supplier Screening |
|
|
|
| ||
|
|
|
|
| ||
|
| Supplier Screening |
| FY 2024 |
|
|
|
| Total number of Tier-1 suppliers |
| 20,430 |
|
|
|
| Total number of significant suppliers in Tier-1 |
| 483 |
|
|
|
| % Of total spend on significant suppliers in Tier-1 |
| 64 |
|
|
|
| Total number of significant suppliers in non-Tier-1 |
| 391 |
|
|
|
| Total number of significant suppliers (Tier-1 and non-Tier-1) |
| 874 |
|
|
|
| Number of suppliers assessed with substantial actual/potential negative impacts |
| 0 |
|
|
|
| % of suppliers with substantial actual/potential negative impacts with agreed |
| 0 |
|
|
|
| corrective action/improvement plan |
|
|
| |
|
|
|
|
|
| |
|
| % of suppliers assessed with substantial actual/potential negative impacts |
| 0 |
|
|
|
| supported in corrective action plan implementation |
|
|
| |
|
|
|
|
|
| |
|
| Total number of suppliers in capacity building programs |
| 136 |
|
|
Information Security/ Cybersecurity & System Availability
The company has implemented a three-tier cybersecurity governance model and employs a dual approach - both top-down and bottom-up - to implement IT security systems and procedures. The business has obtained ISO 27001 certification, signifying compliance with the Information Security Management System standard as well as data protection legislations specified in the Indian Information Technology Act, 2008. Grasim maintains business continuity and contingency plans, subjecting them to manual testing by the company's IT representatives. Additionally, the company conducts vulnerability analyses in collaboration with third-party agencies.
IT Security / Cyber Security Governance
Board Level - Risk
Management and
Sustainability
Committee
Corporate &
Business Level IT
Security
Committee
Unit Level Risk
Committee
Dr. Thomas M. Connelly, Jr. is an Independent Director on Grasim Industries Limited's Board, who possesses relevant experience in the field of cybersecurity. He serves on the Risk Management and Sustainability Committee, which reviews cybersecurity matters and provides guidance to the management.
With expertise in digitalization, technology, and innovation, Dr. Connelly previously held positions like Chief Science and Technology Officer and Chief Innovation Officer at a multinational chemical company. In the Risk Management Committee, he guides teams in implementing cybersecurity measures, including ISO 27001 compliance, reviewing IT security policies, and assessing third-party audit reports.
Dr. Connelly's role enhances Grasim's cybersecurity with his strategic insights and experience. He guides the management to ensure Governance, strong protection of information assets and reinforce cybersecurity practices.
At Business Level - Chief Information Security Officer (CISO) of each business division hold the primary responsibility for implementing systems and procedures related to IT Security and Cybersecurity. Their role also encompasses ensuring the effectiveness and efficiency of IT Security and Cybersecurity processes and infrastructure.
5
Grasim Industries Limited
ESG Data Book 2023-24
Dedicated business wise email IDs grasim.infosec@adityabirla.com, complaint@adityabirla.com, gilvsf.infosec@adityabirla.com, have been published and conveyed to employees to report any suspicious events. Additionally, users can report any incident through the local unit IT team. There is an Incident Response Mechanism (IRM) at Grasim, to address the information security incidents in an appropriate and timely manner. All reported incidents will be logged in a centralized system and classified based on their severity and impact to business.
6
Grasim Industries Limited
ESG Data Book 2023-24
Environment
Environmental Policy and Management
❖ EMS: Certification/Audit/Verification
| Particulars |
| Certification/Verification details |
| Specification of international standards through which |
| 85% of our sites are ISO 14001:2015 certified |
| EMS has been verified |
| |
|
|
|
Note: Grasim has 100% of the plants are certified with ISO 14001, Ultratech has 79% of the plants are certified with ISO 14001.
- Return on Environmental Investments (in INR)
|
| Parameters |
| FY 2021 |
| FY 2022 |
| FY 2023 |
| FY 2024 |
|
|
|
| Capital Investments | 52,64,00,000 |
| 2,52,08,00,000 |
| 9,03,75,64,000 |
| 3,65,85,47,484 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
| |
|
| Operating Expenses | 57,17,600 |
| 3,82,31,000 |
| 4,74,82,71,874 |
| 4,70,64,04,874 |
|
| |
|
| Total Expenses = Capital |
|
|
|
|
|
|
|
|
|
|
|
| Investment + Operating | 53,21,17,600 |
| 2,55,90,31,000 |
| 13,78,58,35,874 |
| 8,36,49,52,358 |
|
| |
|
| Expenses |
|
|
|
|
|
|
|
|
|
|
|
| Savings, cost avoidance, | 2,66,05,00,000 |
| 1,85,27,00,000 |
| 3,18,87,68,800 |
| 42,81,00,000 |
|
| |
|
| income, tax incentives, etc. |
|
|
|
|
| |||||
|
|
|
|
|
|
|
|
|
|
|
| |
❖ Environmental Violations |
|
|
|
|
|
|
|
|
|
| ||
|
|
|
|
|
|
|
|
|
|
| ||
|
| Parameters |
| FY 2021 |
| FY 2022 |
| FY 2023 |
| FY 2024 |
| |
|
| Number of violations of legal |
| 0 |
| 0 |
| 1 |
| 0 |
|
|
|
| obligations / regulations |
|
|
|
|
|
| ||||
|
|
|
|
|
|
|
|
|
|
|
| |
|
| Amount of fines / penalties |
| 0 |
| 0 |
| 2,07,37,500 |
| 0 |
|
|
|
| related to the above in INR |
|
|
|
|
|
| ||||
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Environmental liability |
|
|
|
|
|
|
|
|
|
|
|
| accrued at year end. |
| 0 |
| 0 |
| 0 |
| 0 |
|
|
|
| Currency: INR |
|
|
|
|
|
|
|
|
|
|
Emissions
❖ Direct Greenhouse Gas Emissions (Scope 1)
| Parameters | Unit | FY 2021 |
| FY 2022 | FY 2023 | FY 2024 |
| Total direct GHG |
|
|
|
|
|
|
| emissions | MTCO2e | 6,07,25,915 | 6,60,23,952 | 6,72,55,110 | 7,65,44,684 | |
| (Scope1) |
|
|
|
|
|
|
❖ Indirect Greenhouse Gas Emissions (Scope 2) - Location Based |
|
| |||||
|
|
|
|
|
|
|
|
| Parameters | Unit | FY 2021 |
| FY 2022 | FY 2023 | FY 2024 |
| Total indirect |
|
|
|
|
|
|
| GHG emissions | MTCO2e | 25,25,920 | 24,39,149 | 33,11,340 | 30,74,325 | |
| (Scope 2) |
|
|
|
|
|
|
❖ Indirect Greenhouse Gas Emissions (Scope 3) |
|
|
|
| |||
|
|
|
|
|
|
|
|
| Parameters | Unit | FY 2021* |
| FY 2022 | FY 2023 | FY 2024 |
| Total indirect |
|
|
|
|
|
|
| GHG emissions | MTCO2e | 52,57,232 |
| 93,57,816 | 97,72,535 | 1,31,05,458 |
| (Scope 3) |
|
|
|
|
|
|
Note: *UltraTech started GHG Scope 3 emissions disclosure since FY 2019-20, however, Grasim standalone started GHG Scope 3 emissions from FY2021-2022. So, the numbers presented in the table for FY 2021 only represents the UltraTech's Scope 3 emissions. FY2021-22, FY 2022-23 and FY 2023-24 includes the Scope 3 emissions from both the entities.
7
Grasim Industries Limited
ESG Data Book 2023-24
❖ Scope 3 Categories
|
| List of Categories |
|
|
|
|
|
|
|
|
|
|
| Scope 3 Emissions in the |
| |||||
|
|
|
|
|
|
|
|
|
|
|
|
| reporting year (MT CO2e) |
| ||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
|
| Category 1: Purchased Goods and Services |
|
|
|
|
|
|
|
|
| 32,04,310 |
|
| ||||||
|
| Category 2: Capital Goods |
|
|
|
|
|
|
|
|
|
|
|
|
| 2,84,534 |
|
| ||
|
| Category 3: Fuel-and-energy-related-activities (not included in Scope 1 or 2) |
|
| 58,28,432 |
|
| |||||||||||||
|
| Category 4: Upstream transportation and distribution |
|
|
|
|
|
|
|
|
| 29,41,814 |
|
| ||||||
|
| Category 5: Waste generated in operations |
|
|
|
|
|
|
|
|
| 80,553 |
|
| ||||||
|
| Category 6: Business travel |
|
|
|
|
|
|
|
|
|
|
|
| 15,759 |
|
| |||
|
| Category 7: Employee commuting |
|
|
|
|
|
|
|
|
|
|
|
| 4,917 |
|
| |||
|
| Category 9: Downstream transportation and distribution |
|
|
|
|
|
|
|
|
| 7,45,145 |
|
| ||||||
❖ NOX Emissions |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||
|
| Parameters |
| Unit |
| FY 2021 |
| FY 2022 |
|
| FY 2023 |
| FY 2024 |
| ||||||
|
| Direct NOX emissions |
| MT | 97,064 |
| 75,731 |
|
| 86,298 |
|
| 94,313 |
|
| |||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
❖ SOX Emissions |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||
|
| Parameters |
| Unit |
| FY 2021 |
| FY 2022 |
|
| FY 2023 |
| FY 2024 |
|
| |||||
|
| Direct SOX emissions |
| MT | 28,359 |
| 16,116 |
| 20,419 |
|
| 37,068 |
|
| ||||||
❖ Dust Emissions |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||
|
| Parameters |
| Unit |
| FY 2021 |
| FY 2022 |
|
| FY 2023 |
| FY 2024 |
|
| |||||
|
| Direct dust emissions |
| MT | 7,115 |
| 4,185 |
|
| 4,266 |
|
| 9,224 |
|
| |||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
❖ Direct Mercury Emissions |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||
|
| Parameters |
|
|
| Unit |
|
| FY 2023 |
|
| FY 2024 |
|
| ||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Direct mercury |
|
|
| MT |
|
| 0.42 |
|
|
|
| 0.46 |
|
| ||||
|
| emissions |
|
|
|
|
|
|
|
|
|
|
| |||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Resource Efficiency and Circularity
❖ Energy Consumption
| Total energy |
|
| Unit |
|
| FY 2021 |
|
| FY 2022 |
|
| FY 2023 |
|
| FY 2024 |
|
| consumption |
|
|
|
|
|
|
|
|
|
|
| |||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
| Total non-renewable |
| MWh | 7,41,13,374 |
| 9,09,67,756 |
| 9,65,12,174 |
| 10,43,88,891 |
| ||||||
| energy consumption |
|
|
|
|
| |||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||
| Total renewable |
| MWh | 10,55,663 |
| 17,65,172 |
| 13,29,218 |
| 34,53,667 |
| ||||||
| energy consumption |
|
|
|
|
| |||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Waste
❖ Waste Disposal
| Parameters |
| Unit | FY 2021 |
| FY 2022 |
| FY 2023 |
| FY 2024 |
|
| Total waste recycled/ reused |
| MT | 6,00,789 |
| 9,73,033 |
| 8,66,726 |
| 36,62,856 |
|
| Total waste disposed |
| MT | 74,647 |
| 1,05,827 |
| 1,21,765 |
| 64,884 |
|
| Waste landfilled |
| MT | 65,851 |
| 1,03,895 |
| 1,19,368 |
| 64,287 |
|
| Waste incinerated with |
| MT | 1,392 |
| 1,057 |
| 1,198 |
| 0 |
|
| energy recovery |
|
|
|
|
| |||||
|
|
|
|
|
|
|
|
|
|
| |
| Waste incinerated without |
| MT | 7,404 |
| 875 |
| 1,199 |
| 597 |
|
| energy recovery |
|
|
|
|
| |||||
|
|
|
|
|
|
|
|
|
|
|
8
Grasim Industries Limited
ESG Data Book 2023-24
Water
❖ Water Consumption
| Parameters |
| Unit | FY 2021 |
| FY 2022 |
| FY 2023 |
| FY 2024 |
|
|
|
|
|
|
|
|
|
|
|
|
|
| Withdrawal: Total municipal water |
| Million cubic |
|
|
|
|
|
|
|
|
| supplies (or from other water |
| 9.99 |
| 11.12 |
| 13.67 |
| 13.49 |
| |
|
| meters |
|
|
|
| |||||
| utilities) |
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
| |
| Withdrawal: Fresh surface water |
| Million cubic | 40.73 |
| 42.54 |
| 44.75 |
| 42.12 |
|
| (lakes, rivers, etc.) |
| meters |
|
|
|
| ||||
|
|
|
|
|
|
|
|
|
| ||
|
|
|
|
|
|
|
|
|
|
|
|
| Withdrawal: Fresh groundwater |
| Million cubic | 7.92 |
| 7.57 |
| 8.15 |
| 8.06 |
|
|
| meters |
|
|
|
| |||||
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Total Withdrawal (Excluding |
| Million cubic | 58.64 |
| 61.23 |
| 65.57 |
| 63.69 |
|
| seawater) |
| meters |
|
|
|
| ||||
|
|
|
|
|
|
|
|
|
| ||
|
|
|
|
|
|
|
|
|
|
|
|
| Discharge: Water returned to the |
|
|
|
|
|
|
|
|
|
|
| source of extraction at similar or |
| Million cubic | 23.84 |
| 28.75 |
| 25.64 |
| 25.68 |
|
| higher quality as raw water |
| meters |
|
|
|
| ||||
|
|
|
|
|
|
|
|
|
| ||
| extracted (excluding seawater) |
|
|
|
|
|
|
|
|
|
|
| Total Net Fresh Water |
| Million cubic | 34.80 |
| 32.49 |
| 40.93 |
| 38.01 |
|
| Consumption |
| meters |
|
|
|
| ||||
|
|
|
|
|
|
|
|
|
|
Grasim has undertaken various initiatives to uphold water stewardship. The company places a strong emphasis on water conservation, treatment, recycle and reuse. Through continuous investments in cutting-edge technologies and process optimization and enhancements, Grasim strives to reduce its overall water consumption. As a result of these initiatives the company has not faced any water-related incidents and financial impact (fines/penalties) above USD 10,000 which could disrupt our business operations.
- Water consumption in Water-Stressed Areas
| Parameter |
| Unit | FY 2021 |
| FY 2022 |
| FY 2023 |
| FY 2024 |
|
| Total net freshwater consumption in |
| Million |
|
|
|
|
|
|
|
|
| water-stressed areas (Total water |
|
|
|
|
|
|
|
|
| |
|
| cubic | 34.33 |
| 41.05 |
| 39.31 |
| 45.48 |
| |
| withdrawals - Total water |
|
|
|
|
| |||||
|
| meters |
|
|
|
|
|
|
|
| |
| discharges) |
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
Exposure to Water Stressed Areas
| Parameters |
| Unit | FY 2024 |
|
|
|
|
|
|
|
| No. of production plants in last FY in water-stressed |
| Number | 19 |
|
| areas (e.g. <1700 m3/(person*year)) |
|
| ||
|
|
|
|
| |
| Total No of production plants in last FY |
| Number | 80 |
|
|
|
|
|
|
|
| % of production plants in last FY in water-stressed areas |
| Percentage | 24 |
|
| (e.g. <1700 m3/(person*year)) |
|
| ||
|
|
|
|
| |
| % of Cost of goods sold (COGS) in last FY |
| Percentage | 74 |
|
|
|
|
|
|
|
9
Grasim Industries Limited
ESG Data Book 2023-24
Climate Strategy
- Climate Related Management Incentive
Position | Type of Incentive | KPI |
Chief Sustainability Officer (CSO) | Recognition | Efficiency |
|
|
|
Description
The Chief Sustainability Officer (CSO) collaborates closely with business-level management and the Board- Level Committee to set and achieve sustainability goals across various business units. At Grasim, the CSO is tasked with developing a climate transition plan, integrating climate-related issues into the overall strategy, establishing corporate climate targets, monitoring progress against these targets, and assessing and managing climate-related risks and opportunities.
The CSO is also responsible for implementing the sustainability agenda across the company's operations, including initiatives for energy reduction and the corresponding reduction in emissions. At the beginning of each financial year, the CSO sets Key Performance Indicators (KPIs) aligned with the company's Key Result Areas (KRAs). Each KPI carries a specific weight and focuses on various climate-related objectives, such as implementing energy and emission reduction measures, increasing the share of renewable energy in the total energy mix, achieving year-on-year targets, and progressing toward emission reduction and net-zero goals at the business level. At the end of the year, based on the achievement of these targets, the company rewards individuals with recognition including monetary incentives. CSO commitment to fostering responsible business practices and contributing to a greener future has been recognized across forums for Grasim.
Every year Aditya Birla Group holds Aditya Birla Awards to recognize the contributions of its employees in various group businesses. Awards are categorized into four categories: Emerging Professionals, Distinguished Achievers, Exceptional Contributors and Accomplished Leaders. CSOs are nominated under Accomplished Leaders category.
Position | Type of Incentive | KPI |
Plant Head | Recognition | Energy Reduction |
|
|
|
| Description |
|
The chemical business is one of our most energy-intensive segments, making it crucial for us to reduce energy consumption to gain both economic and environmental benefits for our company and stakeholders. Recognizing this, our management has identified energy reduction as a Key Result Area (KRA) in our balanced scorecard. These KRAs are cascaded down to each unit or plant head at Grasim. The head of each unit sets specific targets in their annual KPIs, which include implementing energy reduction initiatives, making process modifications to improve energy efficiency, upgrading or changing fuel types, and advancing renewable energy initiatives, such as increasing the share of renewable energy through real-time utilization of Group Captive Solar.
Additionally, meeting the Perform, Achieve, and Trade (PAT) targets, as mandated by the Bureau of Energy Efficiency (BEE), is included in these KPIs. At the end of the year, individuals who successfully meet their targets are rewarded with monetary incentives.
Every year Aditya Birla Group holds Aditya Birla Awards to recognize the contributions of its employees in various group businesses. Awards are categorized into four categories: Emerging Professionals, Distinguished Achievers, Exceptional Contributors and Accomplished Leaders. Plant heads of respective businesses are nominated under Exceptional Contributors category.
Position | Type of Incentive | KPI |
Employee | Recognition | Energy Reduction |
| Description |
|
Grasim has adopted the Kaizen (World-Class Manufacturing) concept across its business operations, empowering unit teams to identify potential energy reduction opportunities through this program. As part of integrating the Kaizen concept into the business units, the teams have launched a reward and recognition scheme, which includes categories such as best projects, highest savings, best Kaizen, and most contributions to Kaizen.
This initiative has led several of our units to achieve significant reductions in energy consumption, which in turn has resulted in lower emissions. Additionally, the company presents Pride Awards to recognize individual and team efforts in advancing sustainability initiatives, including energy reduction, increased use of renewable energy sources, and emission reduction. The company recognizes each winning team or individual with vouchers, certificates of appreciation, mementos, and trophies. Every year Aditya Birla Group holds Aditya Birla Awards to recognize the contributions of its employees in various group businesses. Awards are
10
Attachments
- Original Link
- Original Document
- Permalink
Disclaimer
Grasim Industries Limited published this content on 31 August 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on August 31, 2024 at 09:05:01 UTC.
