JB Pharma commits to ESG in its first sustainability report

Mumbai, India October 13, 2022. JB Chemicals & Pharmaceuticals Ltd (JB Pharma), one of the fastest growing companies in India, today released its first Sustainability Report (ESG). The report is prepared in accordance with the international framework of reporting standards, the Global Reporting Initiative (GRI) as a fundamental standard and the links with the Sustainable Development Goals (SDGs). The report reflects JB Pharma’s commitment to cascading practices across responsible operations and to promoting transparency regarding the company’s progress towards its ESG objectives. The report can be accessed at https://jbpharma.com/sustainability-report/
Business leaders have increasingly realized that it is no longer enough to focus solely on profits and that there is an urgent need to take into account broader stakeholder considerations around customers, financial growth and society as a whole.
“We are proud to share our first sustainability report. This is an important step in the right direction and in line with our motto “Good health for a healthier world”. We believe in conducting business in a socially, environmentally and ethically responsible manner with a defined approach to environmental protection, natural resource conservation and cost effectiveness to ensure the safety and health of our employees, communities and the planet as a whole,” said Mr. Nikhil Chopra, CEO, JB Pharma.

Companies must also capture the value created for stakeholders, including traditional measures such as revenue and costs, as well as brand value, diversity and inclusion, sustainability and community impact. . And this shouldn’t be viewed solely as a compliance issue.

“JB Pharma is increasingly adopting a multi-stakeholder approach to determining its expectations in terms of Environment, Social and Governance. The ESG report focuses on the key factors that have proven to be most important to our stakeholders when assessing the materiality of our organization. » Mr. Chopra added yet.

Private equity firms also ranked ESG initiatives among the top three priorities after talent management and product/strategy expansion. As companies expand their ESG footprint, expectations shift from risk management to value creation for potential beneficiaries and portfolio companies. Beyond geopolitical challenges, regulators and investors are constantly striving to define the ESG phenomenon and put in place matrices to determine the role of companies in a society shaken by existential challenges like climate change, the pandemic, conflicts and social unrest.
As a responsible company, JB Pharma has consistently led the way to a greener and cleaner world. From fiscal 2020 to fiscal 2022, the organization reduced energy consumption by 9.2% and increased green energy through solar power. In addition, its Scope 1 and Scope 2 emissions decreased by 14.6% and 10.7% over the same period. Through its clean and green initiatives, JB Pharma has also ensured that its waste is properly disposed of. During the reporting period, waste sent for co-processing amounted to 757.65 MT. All sites are zero liquid discharge. While protecting the environment, the organization also ensured the protection and well–being of its employees.

JB Pharma continually strives to foster a fair and desirable work environment through its policies and systems. As a result, the organization saw a 20.6% increase in female representation in factories from FY2020 to FY2022 and 73 female employees working in the field, in an industry that is typically dominated by their counterparts. Its rigorous health and safety practices also ensured no work-related injuries during the year. With a people-centric approach, its CSR interventions continue to positively impact the lives of thousands of people across the country.

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