Godrej & Boyce Adopts Ambitious ESG Goals

MUMBAI:
Godrej & Boyce, the flagship company of Godrej Group today announced its Environmental, Social and Governance (ESG) goals along with the investment targets for the next 10 years. Jamshyd N Godrej, Chairman and Managing Director of Godrej & Boyce provided a comprehensive overview of the company’s ESG strategy, key initiatives, focus areas, impact and its goals, moving forward.

Over the last ten years, Godrej & Boyce has invested more than ₹ 500 crores towards its ESG initiatives. These initiatives are a part of the company’s Good & Green vision which is aligned to the UN’s Sustainable Developmental Goals and was launched by the organization over a decade ago.

Jamshyd N Godrej, along with his team of torchbearers for Good & Green – George Menezes COO Godrej Electricals & Electronics, Kamal Nandi EVP and Business Head Godrej Appliances, Tejashree Joshi Head of Environmental Sustainability and Ashwini Deodeshmukh Head of CSR & Sustainability – shared an in-depth analysis of G&B’s ESG commitments and targets that are aligned to create a competitive value for one of India’s leading conglomerates.

Revealing the company’s commitment towards sustainability and social transformation, Jamshyd N. Godrej said, “We are pleased with the impact that we have achieved in our mission towards sustainable and inclusive growth. At Godrej & Boyce, we focus on four key strategic pillars – employability, innovating for Good & Green products, creating a greener India and creating shared value through community development. We are working relentlessly to contribute towards India’s Sustainable Development Goals (SDGs) for 2030, while simultaneously creating value for our business, the communities and the planet through our unique and scalable initiatives”.

Mr. Godrej further mentioned, “Together, my team and I have set ambitious goals for ourselves. We are committed to generate over 1/3rd of our overall revenues from Good & Green products by FY22”. Over the last 10 years, Godrej & Boyce has invested 18cr in their skilling initiative- Disha and has observed a social return of 6X. The company has also facilitated green building footprints of 300 million+ square feet and 300+ gold and platinum rated projects, including manufacturing facilities and buildings of their own.

George Menezes commented saying, “Godrej & Boyce has been doubling its energy productivity through a holistic energy management approach by enhancing operational efficiency and adopting green technologies using real-time data and analytics”.

Kamal Nandi further revealed that 54% revenue of Godrej Appliances comes from Good & Green Products. He also shared that the business uses 50% renewable energy in its manufacturing facilities across the country. They have also collected and responsibly recycled 39,900MT of e-waste. The business has also been supporting India’s Covid-19 vaccination drive and has delivered 25,000 vaccine refrigerators and freezers in the last one year.