Godrej Group submits Science Based Targets initiative (SBTi) for emission reduction

MUMBAI, India, July 15, 2022 /PRNewswire/ -- Godrej Industries Limited and Associate Companies (GILAC) has submitted greenhouse gas (GHG) emission reduction targets to the Science Based Targets initiative (SBTi) for validation. GILAC has evaluated the reductions required in our emissions (Scope I+II+III) across all group companies and has committed to reducing these emissions in line with the globally determined target determined by the SBTi standards committee.

SBTi's standards are the world's first science-based certification of companies' emissions reduction targets in line with the Paris Agreement's goal of keeping planetary warming to 1.5°C. The targets provide a clear defined pathway for companies to reduce GHG emissions and help prevent the worst impacts of climate change.

GILAC will continue to reduce emissions by continuously upgrading to energy efficiency technologies and process, and increasing the use of clean energy by shifting from fossil fuels to renewable fuels, such as biomass, captive solar, rooftop solar, open access purchase, cogeneration and green storage. GILAC is also exploring low-energy water recovery systems and nature-based climate solutions for carbon capture.

In March 2022, GILAC sourced over 55% of its energy from renewables and has a target of achieving 70% renewables in energy mix by 2025. GILAC is also 50% scope 1 and 2 carbon neutral and aims to be 100% by 2025. By being a part of SBTi GILAC is furthering its ongoing commitment to reduce the environmental footprint of its operations.

Speaking about the commitment, Nadir Godrej, Chairman and Managing Director of Godrej Industries Limited, said, "We've taken bold, ambitious emissions reduction targets way back in 2010 and we've been reporting our emissions and progress to CDP for a decade. Committing to SBTi was the right next step for us. The commitment is in line with our ambition to reduce our GHG emissions beyond our own businesses and to cover our entire value chain."

Gayatri Divecha, Head - CSR and Sustainability, Godrej Industries Limited and Associate Companies, says, "Climate science is clear - going beyond 1.5°C global warming will have catastrophic risks for our planet, people, businesses, and profitability. Our world is increasingly interconnected, and we can't escape this impact. Committing to Science Based Targets initiative (SBTi) is key to integrate environmental sustainability into the heart of our operations and it aligns with our ESG priorities of building a more equitable, inclusive and greener world."

About Godrej Industries Limited and Associate Companies

Established in 1897, the Godrej Group has its roots in India's Swadeshi movement. Our founder, Ardeshir Godrej, lawyer-turned-serial entrepreneur failed with a few businesses, before he struck gold with the locks business that you know today. One of India's most trusted brands, with revenues of USD 4.1 billion, Godrej enjoys the patronage of over 600 million Indians across our consumer goods, real estate, appliances, agriculture and many other businesses. You think of Godrej as such an integral part of India that you may be surprised to know that over 25 per cent of our business is done overseas.

We promise Godrejites a culture of tough love; take serious bets on them and differentiate basis performance. We also understand that our team members play multi-faceted roles and so, we strongly encourage them to explore their whole selves. Our canvas is growing. In fact, our vision for 2020 is to be 10 times the size we were in 2010. We truly believe that while our amazing past distinguishes us, we are only as good as what we do next. Godrej Industries Limited and Associate Companies (GILAC) is part of the Godrej Group. It comprises 4 major companies with interests in real estate, FMCG, agriculture, and chemicals.

Contact:

Supreeth Sudhakaran
9920584295
[email protected]

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