CDP India 2020 Climate Change Report: Tata Consumer Products retains its leadership position for best sustainability practices

Tata Consumer Products, the focused consumer products company uniting the principal food and beverage interests of the Tata Group under one umbrella has been recognized for its actions towards protecting the environment and preventing climate change across the globe by CDP India 2020 Climate Change Report. Tata Consumer Products received an A-, placing the company in CDP India'sleadership band for the second consecutive year, out of a universe of 9600 global companies that were rated this year.

CDP is a global non-profit that runs the global disclosure system for investors, companies, cities, states, and regions to manage their environmental impacts. Companies scoring within the leadership category are recognized for their transparent and comprehensive disclosure of climate data, thorough awareness of climate risks, demonstration of strong governance and management of climate risks, and demonstration of market-leading practices. Through their independent scoring methodology, they measure corporate progress and incentivize action on climate change, forests, and water security. This year, CDP assessed over 9,600 companies around the world.

Specifically, Tata Consumer Products scored better this year in areas related to Governance, Business Strategy, and emissions management. The company took several Green House Gas (GHG) emission reduction initiatives including investments in renewable energy and energy efficiency. The company has been able to bring down its carbon footprint by 26% between 2010-20.

Amit Chincholikar, Global CHRO and Chief Sustainability Officer, Tata Consumer Products said "We are humbled to receive this leadership recognition in the sustainability space for the second consecutive year. We recognize the strong linkages between business growth and environment friendly practices. We are committed to continue building a business which respects the environment and furthers sustainable practices. As part of the TATA group, we will further strengthen our focus on sustainable production and consumption while continually engaging with the communities we operate in."

He further added, "At Tata Consumer Products, we have defined our climate change strategy along 4 areas - Sustainable Agriculture, Sustainable Forestry, Renewable Energy and Energy Efficiency. In order to embed this into our business, we have strong leadership commitment alongwith guidelines and processes in areas that cover sustainable sourcing, waste and water management."

Shares of Tata Consumer Products Limited was last trading in BSE at Rs.562.2 as compared to the previous close of Rs. 572.4. The total number of shares traded during the day was 192928 in over 3978 trades.

The stock hit an intraday high of Rs. 579.75 and intraday low of 554.1. The net turnover during the day was Rs. 109391282.

Source : Equity Bulls

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