Welspun India Commits to undertake Climate Action aligned with SBTi Net Zero Standard

Welspun India Limited, a global leader in home textiles, has recently committed to the Science Based Targets initiative (SBTi) of Net-Zero Standard and Business Ambition for 1.5°C to mitigate its GHG emissions. Science Based Target initiative (SBTi) Business Ambition for 1.5°C is an urgent call to action from a global coalition of UN agencies and business and industry leaders, in partnership with the Race to Zero.

Globally more than 2,000 businesses and financial institutions are working with the Science Based Targets initiative (SBTi) to reduce their emissions in line with climate science. As on date, a total of 8 companies from Indian Textiles, Apparel, Footwear and Luxury Goods sector are part of the SBTi and progressing towards 1.5°C future. As part of the pledge, Welspun India strives to achieve net zero emissions by setting up a target aligned with the SBTi NetZero Framework. Further, it aims to develop a decarbonisation roadmap to minimize its emission across the value chain operations through initiatives. This would include reducing its greenhouse gas emissions through periodic review of GHG inventory, persistent increase in annual sourcing of renewable energy, identifying climate related business risks and reporting as per the guidelines of TCFD (Task force on Climate related Financial Disclosures). The company has also secured ISO 14001 certifications for its facilities and implemented robust environment management systems to ensure eco-friendly operations.

Ms. Dipali Goenka, Jt. MD & CEO, Welspun India Ltd. said, "As a responsible corporate citizen, Welspun India acknowledges the risk posed by the climate crisis, as well as the adverse impact that business operations have on the environment. Businesses can no longer afford to take a wait-and-see approach to climate change. The time to act and safeguard our tomorrow is now. Our commitment to the Science Based Targets initiative of Net-Zero Standard is a step in that direction. With sustainability and climate consciousness as integral components of our overarching business philosophy, we will continue to monitor, assess, and implement policies that allow us to reduce the direct and indirect environmental impact of our operations."

The pledge marks Welspun India's vision of becoming a global leader in espousing the ESG framework and ensuring its environment, social and governance actions are structured and formalized. The company has already deployed multiple initiatives across the value chain operations to reduce its carbon footprint and mitigate the impact of Climate Change.

Shares of Welspun India Limited was last trading in BSE at Rs. 137.50 as compared to the previous close of Rs. 137.00. The total number of shares traded during the day was 393042 in over 6282 trades.

The stock hit an intraday high of Rs. 142.90 and intraday low of 132.20. The net turnover during the day was Rs. 54756268.00.

Source : Equity Bulls

Keywords

WelspunIndia INE192B01031 SBTi NetZeroStandard GHGEmissions