Remarkable Sustainability Performance Recognized by S&P Global
MUMBAI (India CSR): Welspun Living Ltd. (WLL), a global leader in home textiles, announces its latest achievement in sustainability. The company has achieved the highest Environmental, Social, and Governance (ESG) rating in the Textile, Apparels & Luxury goods category for the year 2023. This prestigious recognition comes from the S&P Global – Corporate Sustainability Assessment (CSA), which evaluates companies’ commitment to sustainable practices.
Key Highlights
Overall ESG Score: Welspun Living secured an impressive overall ESG score of 66, reflecting its dedication to responsible business practices.
Top Ranked in India: Among textile manufacturing companies in India, WLL stands out as the leader in sustainability.
Year-on-Year Improvement: The FY 23 scores witnessed a significant 11 percent increase compared to the previous year’s score of 59, emphasizing Welspun Living’s commitment to sustainable practices across the entire textile value chain.
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Updated S&P Global (DJSI) ESG Scores
Table
| S&P Global (DJSI) ESG Score | ||
| 2022 | 2023 | |
| Total | 59 | 66 |
| Governance | 67 | 70 |
| Environment | 54 | 64 |
| Social | 56 | 61 |
These outstanding scores position Welspun Living in the top 3 percentile of textile, apparel and luxury goods companies globally. The company’s dedication to sustainability serves as a model for responsible corporate citizenship.
Leadership Perspectives
Dipali Goenka, CEO & MD of Welspun Living Limited, expressed pride in the company’s enhanced sustainability performance. She emphasized WLL’s commitment to environmental stewardship, social responsibility, and transparent governance. The ambitious goal of achieving carbon and water neutrality by 2030 drives their efforts.
ESG is at the core of everything that we do at WLL and the substantial improvement in S&P Global ESG scores is a testament of our efforts. We take great pride in our enhanced sustainability performance across the entire textile value chain, exemplified by our latest scores, said Dipali Goenka, CEO & MD of Welspun Living Limited.
Being the highest rated company from India in the textile, apparel & luxury goods segment underscores our commitment to leading the industry in environmental stewardship, social responsibility, and transparent governance. These accomplishments bring us closer to our ambitious objective of achieving carbon and water neutrality by 2030, demonstrating our steadfast dedication to creating shared value within the communities we serve. We are continually innovating and collaborating to ensure that our business practices align with our values and contribute positively to the world around us.”
Sustainability Approach
Sanjay Gupta, CFO of Welspun Living Ltd, highlighted the comprehensive approach to sustainability. The company’s unwavering pursuit of excellence aligns with global ESG trends, making it a role model for success.
Sanjay Gupta, CFO of Welspun Living Ltd, further added, “Our improved scores across all fronts showcase our comprehensive approach to sustainability, driven by our collective endeavours to protect the environment and uplift communities. We remain unwavering in our pursuit of excellence, meeting the expectations and aspirations of all our stakeholders. WLL’s consistent improvements underscore its alignment with global ESG trends and its commitment to sustainable business practices, making it a role model for corporate success.
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The Welspun Living
Welspun Living Ltd (WLL), a part of the $5 billion Welspun World, leads the global home textiles industry. With a distribution network spanning over 50 countries and world-class manufacturing facilities in India, Welspun collaborates with top global retailers. The company’s differentiation strategy revolves around branding, innovation, and sustainability.
The S&P Global Corporate Sustainability Assessment
The S&P Global CSA evaluates sustainability practices across more than 10,000 companies worldwide. Since 1999, it has focused on industry-specific and financially material criteria, recognizing companies committed to positive impact and responsible business practices.
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