Sustainability Overview
Sustainability is at the core of our business. We have undertaken various sustainability initiatives to enhance socio-economic value for all our stakeholders while minimizing the environmental footprint of our operations. At Jubilant Pharmova, we aim to manufacture products for our customers through optimized utilisation of resources to minimize effect on the environment. We also have state-of-the-art environment protection equipment at all our manufacturing facilities. We strive to reduce our carbon footprint through our several initiatives to reduce energy consumption and by the use of different renewable energy sources.
Climate Change
Jubilant understands the risks Climate Change can bring to our businesses with respect to the depletion of natural resources. We believe that the global emission of Greenhouse Gases (GHG) is the major contributor for Climate Change. As a responsible corporate, to address climate change, we reduced specific GHG emissions from our facilities year on year, by continuously working on reduction in energy consumption, waste generation, increase in renewable energy share and enhancing the carbon sinks by planting more trees.
Water
We continuously work to recycle back, usable water from the effluents after treatment in order to reduce freshwater consumption. Both of our Indian manufacturing facilities are zero liquid discharge.
Circular Economy
At Jubilant Pharmova, we aim to address waste management through a circular economy. We envisage creating an economic system aimed at eliminating waste and the continual use of resources. We believe in reuse, sharing, repair, refurbishment, remanufacturing and recycling to create a closed-loop system, minimising the use of resource inputs and the creation of waste, pollution and carbon emissions. To address the above we have undertaken few initiatives:
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Reducing waste generation at source
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Encouraging waste segregation at source
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Recycle and Reuse waste through authorised third party
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Co-processing at a cement kiln
Recognitions
Our sustainability efforts have been recognized and appreciated at many national and international forums organised by institutions like the Confederation of Indian Industry (CII), Federation of Indian Chambers of Commerce and Industry (FICCI) etc. The company also received an appreciation letter from GRI for our contribution towards strengthening sustainability reporting in India and our continued support of GRI’s mission and vision.
Our commitment to sustainability is evidenced by our remarkable achievements in ESG ratings. We attained an outstanding percentile of 94% in the S&P Global ESG Indices CSA 2022 (DJSI), signifying a substantial increase of 42.50% compared to last year's score. We take pride in attaining a GOLD Sustainability rating in EcoVadis, placing us among the top 5% of global pharmaceutical companies. This achievement underscores our dedication to environmental, social, and governance factors. Additionally, we have received an impressive 'B' score band from CDP for 'Climate Change' and 'Water Security.' The company has moved from the 'B-' band (last year's score) to the esteemed 'B' band, known as the 'Management' band. Furthermore, our leading position in the pharmaceutical sector and fourth position across all sectors in the Asia-Pacific Climate Leaders survey by Nikkei Asia validate our commitment to combatting climate change.
Our progress towards sustainability goals has been truly remarkable. We have surpassed expectations by achieving a 22% reduction in specific energy consumption, a 20.9% decrease in specific water consumption, and an impressive 55.1% reduction in specific greenhouse gas (GHG) emissions compared to our FY 2019 baselines. Additionally, our unwavering dedication and adaptability have resulted in a significant 38% reduction in absolute GHG emissions since FY 2019. We also take equal pride in maintaining a gender diversity ratio of 25.2% and remain focused on further enhancing diversity within our workforce.