Onkar Kanwar, Chairman and Managing Director of Apollo Tyres Ltd, having a legacy of over 110 years, today said that his company commits to being carbon neutral by 2050. The company is working on multiple aspects to make this a reality.
While addressing the 49th Annual General Meeting of the company, he said “While we saw a lot of work in our growth pillars, I would like to highlight our Sustainability pillar. Sustainability has become a buzzword in recent times, but at Apollo Tyres, it has long been embedded in our way of working.”
“I have mentioned in the past and I reiterate that we believe in creating a responsible company, in pursuit of sustainable growth and profits. We have created a culture where we expect each employee to behave and act in a socially responsible manner. We have made a commitment to be carbon neutral by 2050 and are working on multiple aspects to make this a reality.”, he added.
The fiscal saw crossed EUR 100 million mark as EBIDTA the year. This is the highest ever EBIDTA for the operations over the last 13 years.
Also Read: What profit is spent on CSR at Apollo Typers in FY 22 – India CSR
The Indian Operations grew by 23% and our European business grew by 18%. For FY22, Apollo Tyres grew at a robust pace of 20% with both the regions showing the average growth.
“We announced the ambitious target of reaching $5 billion by 2025-26. I am confident that with your support and the drive-by our people, we will reach the target.”, the CMD said.
“We are increasing the usage of sustainable raw material and encouraging our value chain to accelerate on the sustainable journey.”
“We focus on the challenges posed by end-of-life tyres and finding innovative ways to use such tyres. We have been setting up pitches across various locations in India using re-purposed tyres. Further, all our sustainability initiatives are aligned with the UN’s Sustainable Development Goals (SDGs)”, Onkar Kanwar said.
(India CSR)
