- Dow Jones Sustainability Index ranks Havells as 7th most sustainable company globally in its industry group
- Havells this year for the first time moved up from BBB to A in Morgan Stanley developed MSCI ESG Risk Rating
New Delhi: Havells India Limited commitment to Environmental, Social, Governance (ESG) and responsible growth has again been recognised by DJSI. The company ranked 7th among the top electrical equipment companies globally by Dow Jones Sustainability Indices (DJSI) for the current year 2021. Despite the trying times of pandemic and stricter ESG rating methodology, Havells has jumped 12 basis points to 88 percentile score in the sector, thus ranking 7th in the electrical equipment section globally. Havells has been consistently ranked in the top 10 global companies for ESG performance in the electrical sector for last three years.
Established in 1999, the DJSI is a globally established ESG assessment carried out annually by their research partner S&P Global. The methodology has continued to evolve over the last two decades, formulating stringent criteria to evaluate companies on ESG performance.
In addition, this year, in October 2021, for the first time Havells has been upgraded from ‘BBB’ to ‘A’ rating in Morgan Stanley formulated MSCI ESG Rating. Established in 1999, MSCI ESG methodology is formulated to evaluate a company’s resilience in the long-term and gauge companies’ exposure to ESG risks.
Speaking on ratings, Anil Rai Gupta, CMD, Havells India Limited, said, “We are happy to be consistently ranked among the top 10 companies in the DJSI assessment for our sector and achieved an improved MSCI rating. It is a testament of our hard work, policy level commitment and ESG decisiveness that led to ESG agencies upgrading our ratings. We regularly monitor and believe in transparently reporting our ESG performance to our stakeholders. We will remain committed to our vision of doing good for the environment and communities around us through responsible inclusive business practices.”
Havells is consciously undertaking different initiatives in the ESG aspects of its business such as moving towards low carbon manufacturing which led to 47% reduction in carbon intensity as compared to FY 2015-16. To support the vision of sustainability, the brand has increased its R&D spend to develop innovative eco- design products. The organisation has witnessed zero fatality and 50% reduction in lost time injury frequency rate (LTIFR) as against FY 2019-20. We have been recognised as Great Place to Work certified organisation for the third time consecutively. This certification is evidence of solidarity and resilience of Havells family in a highly competitive and dynamic business environment. The recognition by international reputed rating agencies substantiate that Havells is making impactful efforts towards sustainability.
