Marico Limited, FMCG major, has topped the charts amongst all FMCG companies in CRISIL’s recently launched ‘ESGauge’ – the ESG performance scores. It accredits the organisation’s commitment to set the benchmark for sustainability and accountability in business operations.
In the report, which mapped ESG frameworks and implementation for 225 companies (largest listed by market capitalisation) across sectors, only a few non-manufacturing entities like private banks, NBFCs and IT companies ranked higher than Marico– underscoring its industry leadership in pursuing ESG objectives.
CRISIL’s thorough data driven analysis looked at the ESG initiatives of these companies across 18 sectors in India, based on the quantitative and qualitative disclosures made by them. The scores allotted by them are based on CRISIL’s proprietary framework that included 100 different assessment parameters across the Environmental, Social and Governance segments. With this, CRISIL assigned the appropriate weight in percentage to companies across the segments which reflected the relative importance of the factors
Saugata Gupta, MD & CEO, Marico Limited said, “CRISIL’s recent ESG report and scores have only validated our efforts and spurred us to continue undertaking endeavours that create a positive impact and truly make a difference.”
In a statement, the company said, ifn line with its ESG goals, the company has ensured the procurement, use and management of natural resources while minimizing the environmental impact of its operations. For instance, its Perundurai plant has been certified as 100 percent carbon neutral while, overall, the company has reduced its GHG emission intensity (Scope 1+2) by 80 percent and achieved a 2.15% reduction in Scope 3 emissions. Furthermore, 95 percent of its packaging material is recyclable by weight and over 25 lakh kilograms of post-consumer plastic waste (MLP) is safely collected and disposed. Marico also participates in CDP disclosures and is rated A- for climate change and B+ for water, all the while consistently achieving top quartile position across national and international ESG public rating platforms.