Vakrangee Demonstrates Environmental Transparency and achieves 'B' score from CDP for Environmental Practices, better than the Industry's Average

Vakrangee, a unique technology driven company focused to build India's largest network of last-mile retail outlets to deliver services to the unserved and the underserved rural, semi-urban and urban population of the country, has been commended for its climate action this year, and received a "B" Rating (on a scale from a minimum of "D" to a maximum of "A") from CDP (Carbon Disclosure Project), a non-profit organization that evaluates the performance in climate change of more than 9,600 companies worldwide every year. This is the first year of participation for Vakrangee to disclose through CDP.

The Score obtained by the Company is a "B" Rating which is in the Management band. The Management Band indicates that the company is taking coordinated action on climate issues. This is higher than the Asia regional average of D, Global Average of C and higher than the Specialized professional services sector average of D. It is a proof and recognition of the concrete and constant commitment of Vakrangee in its efforts to fight against climate change.

Vakrangee has been recognized for its actions to cut emissions, mitigate climate risks and develop the low-carbon economy, based on the data submitted by the company through CDP's 2020 climate change questionnaire.

CDP's annual environmental disclosure and scoring process is widely recognized as the gold standard of corporate environmental transparency. A detailed and independent methodology is used by CDP to assess these companies, allocating a score of A to D- based on the comprehensiveness of disclosure, awareness and management of environmental risks and demonstration of best practices associated with environmental leadership, such as setting ambitious and meaningful targets.

In 2020, 515 investors with US$106 trillion in assets and 150+ large purchasers with over US$4 trillion in procurement spend requested thousands of companies to disclose their environmental data through CDP. By completing CDP's annual request for disclosure via completion of its climate change questionnaire, Vakrangee is demonstrating the transparency and accountability vital to tracking progress toward a thriving, sustainable future.

We aim to provide all the various services to our consumers in the most environment friendly manner. At our Vakrangee Kendras, we have adopted 'Go Green' initiatives. Our banking processes run on AePS (Aadhaar enabled Payment System) model. Moreover, ATM transactions do not generate printed receipts. The transaction acknowledgments are sent via SMS. We are working towards achieving environmentally sound management of paper through prevention, reduction, recycling, and reuse, in order to minimize their adverse impacts on the environment.

Further, Vakrangee is certified with ISO 14064-1:2006, ISO 14064-2:2006 Green House Gas Emissions as well as ISO 14001:2015 Environmental Management System to improve the environmental performance through more efficient use of resources and reduction of waste, gaining a competitive advantage and the trust of stakeholders.

Commenting on this, Mr. Dinesh Nandwana, Managing Director & Group CEO, Vakrangee Ltd. said, "We are happy and honored to be scored "B" Rating during our first year of disclosures demonstrating Environmental Transparency by disclosing through CDP. This recognition reflects our active engagement towards carbon neutral business. At Vakrangee, we understand that our business has an impact on the environment. We recognize environmental effects and climate change as the key sustainable challenges to a business or the society at large.

Our Business strategy has been mapped with the sustainability initiatives along with the United Nation's Sustainable Development Goals. The goals are a blueprint to achieve a better tomorrow.

Our vision is to continue to be an environmentally responsible organization making continuous improvements in managing the impact that our operations have on the environment. We will achieve this through an integrated environmental management approach, which focuses on people, technology and facilities, supported by the Management Commitment as the prime driver."

Shares of Vakrangee Limited was last trading in BSE at Rs.43.3 as compared to the previous close of Rs. 42.6. The total number of shares traded during the day was 1094112 in over 4332 trades.

The stock hit an intraday high of Rs. 44.5 and intraday low of 41.6. The net turnover during the day was Rs. 47224191.

Source : Equity Bulls

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