AT HAVELLS, WE FOLLOW A SYSTEMATIC PROCESS TO IDENTIFY, ANALYSE AND MANAGE PRIORITY MATTERS. IT ALLOWS US TO EFFECTIVELY COMPREHEND THE INFLUENCE OF OUR BUSINESS ON THE STAKEHOLDERS AND VICE-VERSA, AND TAKE NECESSARY ACTIONS FOR RELIABLE VALUE CREATION.
A list of material topics were shortlisted, each of which were assigned a framework score, industry score, survey score, risk score and management score. The frameworks considered included Business Responsibility and Sustainability Report (BRSR), Global Reporting Initiative (GRI), Sustainability Accounting Standards Board (SASB), Dow Jones Sustainability Indices (DJSI), Morgan Stanley Capital International (MSCI) & Sustainalytics. To arrive at the industry score, international and Indian companies in the electrical equipment and appliances space were considered. An ESG materiality survey was rolled out in FY 2021-22 to 100+ participants, including the management and senior leadership team.
Low carbon footprint and carbon intensity of our products in manufacturing and usage. Resilience for Climate Change impacts on our business activities and supply chain
Ensure high quality, product safety, durability, repairability and serviceability as well asresponsible use of resources throughout the life cycle of the product
Water is a key resource for the society and judicious use of water is a key priority to us. Maintaining air quality in and around our premises is a top commitment for us
Responsible end of life disposal of our product and services by following ‘5Rs’ – reduce, reuse, recycle, recover and residualmanagement; strive for zero waste to landfill
Focus on employee engagement, learning & development, diversity & inclusion, fair treatment, leadership & succession planning etc.
Ensuring safe, sound and healthy working environment for all employees
Managing IT risks and including contingency plans are crucial to ensuring business continuity, along with protecting personal data integrity
Contributing to the upliftment of the society and upholding human rights as per the UN Declaration of Human Rights
The balance of pursuing economic interests while maintaining accountability and ethical integrity
How consumers and markets perceive our Company and its products, image, and reputation including degree of recall of our brand across different product lines
Innovation is the key to stay current and relevant to our customers and for delivering sustained responsible growth
Our stakeholders form the core of our value creation. We believe in creating value and equitable wealth for our stakeholders through our business process
Diversifying distribution channels to reach all our customers and consumers
Capacity utilisation is associated with the amount that a plant can generate to the plant’s actual output. It has a direct correlation to demand and market presence
Sustainable procurement, supply chain resilience, local vendor management
Our sustainability model focusses on stakeholder value creation through identification of the Havells’ material topics developed in consultation with the stakeholders. Our strong foundation of governance with ethics, integrity, transparency help us move forward.
Our sustainability model considers stakeholder expectations and strategic business objectives.
We have arrived at the model through detailed consultation on our material topics with our diverse stakeholder groups. The model is based on the core foundation of corporate governance that is based on ethics, integrity and transparency.
We have strong compliance systems in place to ensure that we adhere to the relevant statutory regulations. We keep a constant check against discrimination, child labour or forced labour. During the year, no material fines or non-monetary sanctions were imposed on the Company for non-compliance with environmental laws and regulations. There were no incidents of non-compliance or fines levied with respect to the regulations or voluntary codes relating to the health and safety impacts of Havells’ products and services, products-related communication and product information disclosure and labelling.