GRASIM INDUSTRIES LIMITED Grasim Industries Limited | |
ESG Data Book 2022-23 | |
Contents | |
Environment | 7 |
Environmental Policy and Management | 7 |
Emissions | 7 |
Resource Efficiency and Circularity | 8 |
Waste | 9 |
Water | 9 |
Climate Related Management Incentive | 10 |
Sustainability Construction | 11 |
Climate Advocacy and Industry Engagement | 12 |
Social | 13 |
Labour Practice indicator | 13 |
Human Capital Development | 14 |
Talent Attraction and Retention | 16 |
Occupational Health and Safety | 16 |
Customer Satisfaction Measurement | 16 |
Reference | 17 |
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Grasim Industries Limited
ESG Data Book 2022-23
About the Company
Grasim Industries Limited, a flagship company of the Aditya Birla Group, ranks amongst the top publicly listed companies in India. Grasim has completed 76 glorious years of its existence. Incorporated in 1947, it started as a textiles manufacturer in India. Today, it has evolved into a leading diversified player with leadership presence across many sectors. It is a leading global producer of viscose, diversified chemicals, linen yarn and fabrics producer in India. The company recently has entered paints business and setting up six plants across pan India locations. Leveraging the Group synergies, Grasim has launched "Birla Pivot", the B2B online marketplace for building materials. Through its subsidiaries, UltraTech Cement and Aditya Birla Capital, it is also India's prominent cement producer and a leading diversified financial services player. At Grasim, there is an endeavour to create sustainable value for 25300+ employees, 247,000+ shareholders, society, and customers. The company reported consolidated net revenue of ₹1,17,627 Cr. and EBITDA of ₹20,478 Cr. in FY 2022-23.
About the ESG Data Book
Grasim Industries Limited (hereafter referred to as Grasim, 'We,' 'Our,' 'the Company') is pleased to present the Company's ESG Data Book for Financial Year (FY) 2022-23.
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).
However, due to the annual introduction of novel global reporting initiatives and revelations, coupled with the diverse concerns held by various stakeholder groups, the incorporation of all essential performance indicators within a single report poses a challenge. With the aim of upholding transparency, Grasim is introducing its ESG Data Book for the FY 2022-23. This move is intended to synchronize its disclosures with the most current global trends in ESG reporting.
Scope & Boundary
The ESG Data Book is compiled to showcase the ESG performance of Grasim Industries Limited and its prominent subsidiaries, encompassing over 75% of the total revenue. Grasim Industries Limited has released its Integrated Annual Report, detailing the ESG performance of the company on a standalone basis. Similarly, separate Integrated Reports are published by other subsidiaries such as UltraTech Cement and others.
The ESG Data Book presents last four years (FY 2019-20, FY 2020-21, FY 2021-22, and FY 2022-
- consolidated numbers for environmental and social KPIs of Grasim Industries Limited inclusive of UltraTech Cement Limited. The economic and governance KPIs referenced from Grasim's Integrated Annual Reports of the corresponding years.
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Grasim Industries Limited | |||||
ESG Data Book 2022-23 | |||||
Economic | |||||
Risk and Crisis Management | |||||
❖ Risk Governance | |||||
Particulars | Please indicate name and | Reporting line: please | |||
position | indicate who the person or | ||||
committee reports to | |||||
Highest ranking person with | Mr. Hemant Kadel | ||||
dedicated risk management | Mr. Pavan Jain | ||||
Senior President | |||||
responsibility on an operational | Chief Financial Officer | ||||
Corporate Finance Division | |||||
level (not CEO) | |||||
Highest ranking person with | |||||
responsibility for monitoring and | Mr. Viral Shah | Mr. Hemant Kadel | |||
auditing risk management | General Manager | Senior President | |||
performance on an operational | Corporate Finance division | Corporate Finance Division | |||
level (not CEO) | |||||
Business Ethics |
- Codes of Conduct: Systems/Procedure
To establish a strong foundation for ethical behaviour, every employee is required to endorse the code of conduct on becoming a part of the organization. Furthermore, the company regularly conducts mandatory training sessions on the code of conduct to refresh employees' understanding of its principles and guidelines.
The code of conduct encompasses a range of essential clauses, each addressing distinct aspects of professional behaviour. This includes explicit directives concerning information security, anti- corruption and anti-bribery measures, the promotion of non-discrimination and the prevention of harassment, guidelines for engaging in political and charitable activities, provisions for maintaining health, safety, and environmental standards, protocols for managing conflicts of interest, and instructions for maintaining a general code of conduct while performing duties.
During the annual performance evaluation period, a thorough assessment is carried out to ensure adherence to the organization's established code of conduct. Remuneration is linked to this code, and the code's violations impact remuneration. - Political Contribution
During the fiscal year 2022-23, the company has not made any financial contributions to any political party.
Supply Chain Management ❖ KPIs for Supplier Screening
Supplier Screening | FY 2023 |
Total number of Tier-1 suppliers | 4586 |
Total number of significant suppliers in Tier-1 | 368 |
% Of total spend on significant suppliers in Tier-1 | 81 |
Total number of significant suppliers in non-Tier-1 | 86 |
Total number of significant suppliers (Tier-1 and non-Tier-1) | 454 |
- Supplier Assessment and Development
At Grasim, our approach to supply chain management, strategic sourcing, and procurement practices revolves around a core commitment to safeguarding the environment, promoting societal well-being, and achieving cost-effective procurement strategies.
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Grasim Industries Limited
ESG Data Book 2022-23
Our supplier screening criteria are meticulously designed to ensure that environmental and societal are considered. We assess the tier-1 suppliers' on ESG criteria, and take corrective actions where suppliers fall short of aligning with Grasim's business expectations. Our goal is to guide and support them in their journey towards alignment with Grasim's overarching business philosophy and expectations.
We are committed to build the capacity of our suppliers across the supply chain ecosystem. We regularly conduct informative sessions with our significant Tier-1 suppliers, empowering them with the knowledge and tools needed to meet our sustainability and business performance standards.
During FY 2023, we have successfully evaluated 40% of our significant tier-1 suppliers against our sustainability benchmarks. Looking ahead, our VSF business division has set a target to comprehensively assess the sustainability performance of key suppliers by the fiscal year 2025.
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. Company's' business locations have obtained ISO 27001 certification, signifying compliance with the Information Security Management System standard. 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 - The CIOs 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.
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Disclaimer
Grasim Industries Limited published this content on 31 August 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 31 August 2023 15:57:04 UTC.
