Greenply Industries Ltd. is constantly striving to build a sustainable operational framework crucial for continued value creation

Greenply’s guiding principles as a socially responsible organisation are to take as little from the environment as possible and to give more of it back

By Manoj Tulsian

Environment Sustainability is one of the most critical issues the world is facing now. As we are witnessing the devastating effect of climate change, many of us are looking out for ways in which we can reduce our impact on the environment. Corporates have a pivotal role to play in this area as their actions and capacity to innovate are vital to swiftly decarbonising sectors, infrastructure, value chains, and the products and services they offer. Corporates are already playing a huge role in the climate fight, aided by the increasing consumer and investor focus on sustainability.

The pandemic has accelerated the need to maintain an ecological balance. There has been a significant change in the mindset of consumers as more people are focused on maintaining a clean environment inside their homes as well. The paradigm shift in consumer patterns has made brands more focused on delivering new product innovations with a focus on sustainability.

The increasing importance of the role of corporates

In recent years, there has been a growing consensus amongst corporates to lower their carbon footprint and inculcate environmental, social and governance (ESG) into their business practices. We have seen many industries or brands become more environment friendly and increase their focus on sustainability. Increasingly, investors and stakeholders are now using environmental, social, and governance (ESG) considerations in their investment process and in a more integrated and systematic way. Corporates have realized the leverage that is associated with sustainability initiatives getting driven into business operations. Corporates have been more transparent in showing their environmental footprints and this has established a better trust amongst their stakeholders. With increased awareness amongst consumers and stakeholders, corporates are regularly working on strategies for emission reduction with greater accountability. Consumers and stakeholders are more committed towards buying sustainably. This reinforces the need for big companies to increase their commitments towards responsible business practices and migrate to sustainable solutions to contribute to a circular economy.

Wood Panel Industry: Working towards Net

The Indian Wood Panel Industry has taken a leadership position amongst other sectors towards its commitment to Net Zero. The industry has undergone a significant change, with a larger focus on a sustainable approach for the future. India’s long-term vision to achieve net zero by 2070 was presented at COP26 in Glasgow and requires deep decarbonization from all key industrial sectors. The Indian wood panel industry is expected to grow owing to the increase in construction activities and the expanding home furnishing sector. The expected rise in the urban population will be a significant boost for this sector. Thus, the need of the hour is to adopt green design and construction practices which would facilitate not only lower energy consumption, less material utilization, and reduced emissions, but also result in an improved quality of life for the occupants. Through continuous R&D, the organised players are focusing more on innovating manufacturing processes and products as an effort towards reducing emissions. Furthermore, leveraging the improvements in manufacturing technologies globally, the processing of timber to manufacture wood panel products have been shown to act as carbon sinks – resulting in considerable net carbon sequestration.

Sustainability and Greenply

Greenply Industries Ltd. is constantly striving to build a sustainable operational framework crucial for continued value creation. Greenply is amongst the first in the sector to use Okoume – a natural timber harvested under the Sustainable Forest Management Plan. Greenply has also attained the FSC® – FM (Forest Management) Certification from the Forest Stewardship Council (FSC®) for its sustainable plantation unit located in Tizit, Nagaland, and is the first company to have successfully achieved the certification in the interior infrastructure segment in India. With the interior sector undergoing rapid transformation, Greenply introduced a line of zero-emission plywood (E-0) to protect indoor air quality by reducing formaldehyde emissions to zero. Greenply’s guiding principles as a socially responsible organisation are to take as little from the environment as possible and to give more of it back. The Forest Management Certification acquired by Greenply will ensure promoting and implementing sustainable farm management practices in the Greenply Industries plantation area in Tizit, enhancing the quality and livelihood of the local group members associated with the project. Greenply has also undertaken massive plantation drive as an effort towards conservation of natural resources. Till date, the company has planted 12 million saplings covering approximately 17,000 acres of land.

Greenply has also promoted the cause of reducing plastic footprints across India. The company had recently conducted an awareness drive to discourage the production, sale, and use of plastic Tiranga (Indian National Flag). Greenply has also taken a pledge to stop the usage and disposal of single-use plastic at an organisational level. As part of this initiative, Greenply created a petition though Changed.Org which was addressed to the Government of India to amend the Flag Code of India2002, prohibiting the use of plastic, including plastic straws on which the Tiranga is mounted, or any other use of plastic in the making of Tiranga, whether it is a flag or a pole/stick, and that other environmentally friendly materials such as bamboo and wood should be adopted instead. Sustainability being the core value of the organisation, Greenply is always committed towards developing eco-friendly products and services. As a long-term sustainability measure, we have embarked on a three-year transformation journey – starting with assessing our maturity and readiness, followed by a detailed roadmap till 2025. We plan to define our goals and targets in course of the same, integrate ESG deeply into the business processes and build a robust governance framework to achieve the goals that we aspire for. With a vision of a greener tomorrow, Greenply will be actively engaged in the environmental and social well-being of the community.