ESG in India: JB Pharma Targets 100% Renewable Energy Sourcing by FY 2032-33

As JB Pharma advances toward its FY 2032-33 goals, the company’s focus on renewable energy, zero waste, and employee empowerment sets a benchmark for others to follow.

JB Pharma Outlines Key ESG Goals & Targets in Third Sustainability Report FY24

MUMBAI (India CSR): JB Chemicals & Pharmaceuticals Ltd. (JB Pharma), one of India’s leading and rapidly growing pharmaceutical companies, has reinforced its commitment to sustainability by launching its 3rd Sustainability Report for FY24. The report outlines JB Pharma’s strategic Environmental, Social, and Governance (ESG) goals, setting ambitious targets for environmental stewardship, social impact, and governance.

The commitment to achieving carbon neutrality is reflected in JB Pharma’s goal of meeting 40% of its energy needs from renewable sources by FY 2026-27, and a bold ambition to reach 100% renewable energy by FY 2032-33.

Developed with reference to the GRI 2021 Standards, Business Responsibility and Sustainability Reporting (BRSR) guidelines, and aligned with the United Nations Sustainable Development Goals (UN SDGs), JB Pharma’s latest report illustrates the company’s comprehensive approach toward building a more sustainable and resilient future.

Key ESG Achievements and Targets

The sustainability journey for JB Pharma reflects its ongoing dedication to reducing environmental impact, improving resource efficiency, and contributing to global health. The company has set multiple ESG targets with a focus on carbon neutrality, renewable energy, waste reduction, employee development, and governance.

Carbon Emission Reductions and Renewable Energy Use

Despite a growth in turnover by 11%, JB Pharma successfully reduced its Scope 1 and Scope 2 emissions by 13.9% in the last financial year. This achievement is a result of their continued investment in renewable energy, which accounted for 12.1% of their total energy demand, leading to a reduction of 9,216.7 tCO2e (tonnes of carbon dioxide equivalent) in emissions. Additionally, the company’s energy intensity per rupee of turnover fell by 14.8%, with total energy consumption decreasing by 5.7%.

Waste and Water Management

The report highlights JB Pharma’s success in reducing waste sent to landfills from 17.18% to 12.2%, emphasizing its commitment to reaching Zero Waste to Landfill by FY 2032-33. In parallel, the company has achieved Zero Liquid Discharge (ZLD) across all its manufacturing facilities, ensuring that no untreated water is released into the environment. Water consumption intensity also decreased by 4.8%, showcasing JB Pharma’s efforts toward becoming water positive by FY 2032-33.

Building a Sustainable Future for Good Health

Nikhil Chopra, CEO & Whole Time Director of JB Pharma, emphasized the company’s vision at the report’s launch: “Guided by the theme ‘Building a Sustainable Future for Good Health,’ we are thrilled to announce the release of JB Pharma’s 3rd Sustainability Report FY24. We recognize the vital connection between sustainability and public health. This report showcases our ongoing journey toward sustainability, highlighting our innovative strategies and dedication to fostering a healthier and more resilient world.”

Chopra also underscored JB Pharma’s inaugural ESG Goals and Targets, reinforcing its commitment to sustainable growth and long-term value creation for stakeholders.

Social Responsibility: Employee Development & DE&I

In addition to its environmental goals, JB Pharma places significant emphasis on Diversity, Equity, and Inclusion (DE&I). The company has set ambitious targets to enhance women’s representation in the workforce to 15% by FY 2026-27 and 25% by FY 2032-33 across all levels. Furthermore, the company aims to ensure 25 average learning hours per employee by FY 2026-27, focusing on employee development and growth as key drivers of innovation and success.

Governance and Assurance

JB Pharma remains committed to the highest standards of compliance and ethics, supported by robust corporate governance. The Sustainability Report has been independently assured by Det Norske Veritas (DNV), a leading global assurance provider. DNV’s assurance is based on the International Standard on Assurance Engagements (ISAE) 3000 and ISAE 3410 for Greenhouse Gas Statements.

The Letters of Assurance from DNV are available publicly, reflecting JB Pharma’s transparency and commitment to third-party validation of its sustainability efforts.

Key ESG Goals and Targets Set by JB Pharma

JB Pharma has set several critical ESG targets for the coming years, with a clear focus on sustainability and stakeholder value creation:

• Zero Waste to Landfill and water positivity by FY 2032-33.
• Enhanced women representation across the workforce and management roles.
• Continuous production of affordable, high-quality pharmaceuticals for global patients.
• Meet 40% of power demand from renewable energy by FY 2026-27 and 100% by FY 2032-33.
• Become carbon neutral in direct operations (Scope 1 and 2 emissions) by FY 2032-33.
• Achieve Zero Waste to Landfill by FY 2032-33.
• Achieve water positivity by FY 2032-33
• Enhance women representation in workforce (permanent) to 15% by FY26-27 and across cadres to 25% by FY 2032-33
• Ensure 25 average learning hours per employee by FY 2026-27.
• Meet the highest standards on compliance and ethics, backed by robust corporate governance.
• Continuously produce quality and affordable products for patients globally.

The report has been audited by Det Norske Veritas (DNV), a leading global classification society headquartered in Norway. DNV has provided limited level assurance on the Sustainability Report 2024. The assurance complies with the International Standard on Assurance Engagements (ISAE) 3000, and the International Standard on Assurance Engagements 3410 – ‘Assurance Engagements on Greenhouse Gas Statements’ (ISAE 3410). Details are available in the Letters of Assurance, which are publicly accessible.

A Commitment to the Future

Through its ESG Goals and Sustainability Report FY24, JB Pharma is setting an example for the pharmaceutical industry by integrating sustainability into its core business strategy. With a clear roadmap towards carbon neutrality, renewable energy, and enhanced social governance, the company is positioned to lead the way in fostering a healthier, more sustainable future for all.

(India CSR)