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Sustainability transcends the realm of sporadic green actions; it embodies a continuous, concerted effort woven into everyday activities, culminating in the creation of a lasting legacy. To achieve this ambitious goal, it is imperative to engage all stakeholders—from businesses to communities—in a collective journey towards sustainability. By thoughtfully planning and implementing various initiatives, we can not only reduce our environmental footprint but also enhance lives and leave a positive impact on the planet for future generations. True to our purpose of improving lives, sustainability lies at the core of our business objectives and is a key driver of our everyday actions.
Inclusive Stakeholder Engagement
The first critical step in building a sustainable legacy is to engage all stakeholders in the process. This includes businesses, employees, consumers, suppliers, and local communities. When everyone is involved and committed to sustainability, it becomes easier to implement and maintain impactful initiatives. For instance, we have successfully enlisted eight of our suppliers to share our mission of improving lives, committing to reducing their CO2 emissions by 30 per cent by 2030.
Reducing Packaging Weight and Using Sustainable Materials
Conscious planning around packaging weight reduction and the use of sustainable packaging materials are crucial steps in minimising environmental impact. By reducing the amount of packaging and opting for recyclable or biodegradable materials, companies can significantly decrease their carbon footprint. We have already achieved 9 per cent product weight reduction, with 93 per cent of our packaging utilising sustainable methods. In 2023 alone, we reduced net packaging weight by 123 tons and are aiming for an additional 15% reduction this year.
Emission Reduction through Transportation
Downstream transportation is a significant contributor to emissions across many industries. By optimizing transportation routes, investing in eco-friendly vehicles, and encouraging alternative modes of transport, companies can reduce their emissions and contribute to a cleaner environment. Our consistent efforts have led to a reduction of 1672 tonnes of CO2 emissions.
Increasing Energy Efficiency
Improving energy efficiency in products consumers use daily is another essential aspect of building a sustainable legacy. By designing products with energy-saving features and promoting energy-efficient
practices, companies can help consumers reduce their carbon footprint and save on energy costs. As part of our Net Zero 2050 commitment, we strive to minimize emissions from our products during the use phase. Our PEP (Product Environment Profiles) eco-passport programs, a type III environmental declaration according to the ISO 14025 standard, provide reliable information about product environmental impact through quantified and multi-criteria environmental data obtained from Life Cycle Assessment calculations.
Transitioning to Renewable Energy
Utilising renewable energy sources, such as solar power, at factory sites is a key step in reducing reliance on fossil fuels and mitigating climate change. By investing in renewable energy infrastructure, companies can reduce their environmental impact but also demonstrate leadership in sustainability. Regular energy audits at our locations have resulted in an 18 per cent reduction in energy consumption over the past two years, with the production of 1679 MW of clean energy. Our goal is to use 70 per cent renewable energy sources by 2024.
Utilising Recycled Materials
Incorporating recycled materials in manufacturing processes helps conserve natural resources and reduces waste. By using recycled materials in products and packaging, companies can close the loop on the production cycle and minimize their environmental footprint. One of our key initiatives towards climate and sustainability actions is the use of regenerated plastics. Since 2022, we have been incorporating recycled plastics into our wiring devices production, aiming for a 15 per cent recycled plastics use rate and a 40% recycled metals use rate this year.
Adopting Circular Economy
Adopting circular economy principles allows companies to transform waste into valuable resources, reducing their environmental impact. Integrating the circular economy approach into our activities is a major focus of our sustainable development commitment. Our eco-design approach encompasses all stages of the product development cycle. By limiting waste production and maximising waste processing, such as through centralized water distribution and recycling, we have saved 17.6 per cent consumption over the past 2 years. Our recycling and recovery practices have resulted in a 99 per cent recovery and recycling rate of waste.
Community Initiatives
We also champion community initiatives like urban forestation, beach cleaning, and lake restoration, demonstrating our commitment to environmental stewardship. These initiatives not only improve the environment but also enhance the quality of life for residents. For example, our beach cleaning efforts over the past few months have resulted in collecting around 7,000 kg of plastic waste from the Mumbai coast, which has been repurposed into benches for neighbourhood schools.
Building a sustainable legacy requires a holistic approach that involves the entire value chain, from production to consumption. By engaging all stakeholders, implementing sustainable practices, and investing in community initiatives, companies can make a meaningful impact on the planet and leave a positive legacy for future generations to inherit.
As we journey towards building a sustainable legacy, every step we take is rooted in our unwavering commitment to improving lives. Sustainability is not a destination but a continuous journey, one that requires the collective effort of every stakeholder. Together, we are shaping a future where our environmental responsibility becomes a beacon of positive change for generations to come.
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