Marico reaffirms sustainability vision on Earth day, targeting 93% clean energy by 2030

Celebrating Earth Day this year, Marico Limited, one of India's leading FMCG companies, reaffirms its commitment to sustainability with a target of 93% renewable energy usage by 2030. Marico began its journey to transition towards clean energy in 2017 by sourcing renewable electricity through wind energy. The company launched its first formal Sustainability Roadmap (up to 2022). Since then, Marico has made significant strides in its sustainability journey, with a strong focus on reducing its environmental footprint and promoting Responsible business practices.

Post achieving the targets included in the first sustainability roadmap from 2017 to 2022 ahead of schedule, Marico outlined its next phase of sustainability vision for 2030 - With ambitious targets of achieving Net-zero emissions across its global operations (owned manufacturing units) by 2040 and in India by 2030. In order to achieve its sustainability vision 2030, Marico committed to scale its renewable electricity usage to 93% by 2030, a threefold increase in clean energy usage since 2017.

In line with its aim, Marico has already doubled its usage of renewable energy to currently meeting 67.4% of its operational energy requirements through clean energy sources. Marico aims to reduce direct GHG emissions by 93% and offset the remaining 7% through sequestration and carbon offset by 2030.

Taking another step forward in its renewable energy journey, Marico's Jalgaon unit signed a Green Energy Agreement with MSEDCL (Maharashtra State Electricity Distribution Company Limited) in January 2025, to start sourcing 100% green energy. Certified under the MERC-approved green energy system, this milestone marks a significant advancement in Marico's journey towards sustainable energy.

Sharing his thoughts on Marico's Net Zero journey on the Earth Day, Amit Bhasin, Chief Legal Officer, Group General Counsel, and Secretary of the CSR Committee, Marico Limited said, "In our pursuit of continued success, we recognise the profound importance of environmental stewardship. We are committed to operating in a way that minimises our impact on the planet. From implementing sustainable practices into our operations to partnering with environmentally conscious suppliers, this philosophy is deeply interwoven into the fabric of our decision-making process.

Pioneering steps like transitioning to coal-free operations and implementing agro-fuel based boiler laid the foundation for further advancements. Our Jalgaon unit's green energy agreement with MSEDCL is another firm step in the direction. With an emphasis on constantly reducing our environmental footprint, we ensure transparency in reporting our progress towards measurable goals. We believe, integrating environmental responsibility into our core values will enable us to sustain a thriving business and a healthy planet for generations to come."

Shares of Marico Limited was last trading in BSE at Rs. 709.00 as compared to the previous close of Rs. 695.05. The total number of shares traded during the day was 97653 in over 2168 trades.

The stock hit an intraday high of Rs. 716.00 and intraday low of 694.50. The net turnover during the day was Rs. 69112474.00.

Source : Equity Bulls

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Marico INE196A01026 FMCG Sustainability EarthDay