MUMBAI: Marico Limited, one of India’s leading FMCG majors, has topped the charts amongst all FMCG companies in CRISIL’s recently launched ‘ESGauge’ – the ESG performance scores.
It accredits the organisation’s commitment to set the benchmark for sustainability and accountability in business operations. In the report, which mapped ESG frameworks and implementation for 225 companies (largest listed by market capitalisation) across sectors, only a few non-manufacturing entities like private banks, NBFCs and IT companies ranked higher than Marico– underscoring its industry leadership in pursuing ESG objectives.
CRISIL’s thorough data driven analysis looked at the ESG initiatives of these companies across 18 sectors in India, based on the quantitative and qualitative disclosures made by them. The scores allotted by them are based on CRISIL’s proprietary framework that included 100 different assessment parameters across the Environmental, Social and Governance segments. With this, CRISIL assigned the appropriate weight in percentage to companies across the segments which reflected the relative importance of the factors
Saugata Gupta, MD & CEO, Marico Limited said, “At Marico, our purpose is to transform, in a sustainable manner, the lives of those we touch. In line with this, we have always prioritised ESG material issues that help us create shared value, thereby minimising any negative impact on the environment and community we operate in. CRISIL’s recent ESG report and scores have only validated our efforts and spurred us to continue undertaking endeavours that create a positive impact and truly make a difference.”
As a responsible corporate citizen and a firm believer in conscious capitalism, Marico has long focused on adopting environmentally and ethically sustainable operations that create value for all stakeholders. In line with its ESG goals, the company has ensured the judicious procurement, use and management of natural resources while minimizing the environmental impact of its operations.
For instance, its Perundurai plant has been certified as 100% carbon neutral while, overall, the company has reduced its GHG emission intensity (Scope 1+2) by 80% and achieved a 2.15% reduction in Scope 3 emissions. Furthermore, 95% of its packaging material is recyclable by weight and over 25 lakh kilograms of post-consumer plastic waste (MLP) is safely collected and disposed.
Marico also participates in CDP disclosures and is rated A- for climate change and B+ for water, all the while consistently achieving top quartile position across national and international ESG public rating platforms.
Marico is one of India’s leading consumer products companies, in the global beauty and wellness space. During FY 2020-21, Marico recorded a turnover of about INR 80.5 billion (USD 1.1 billion) through its products sold in India and chosen markets in Asia and Africa.