JB Pharma commits to ESG in its maiden Sustainability Report
J B Chemicals & Pharmaceuticals Ltd (JB Pharma), one of the fastest growing companies in India, today published its inaugural Sustainability(ESG) Report. The report is prepared following the international reporting standards framework, the Global Reporting Initiative (GRI) as its Core Standard, and linkages with the Sustainable Development Goals (SDGs). The report reflects on JB Pharma’s commitment to cascading practices across all operations responsible and fostering transparency regarding the company’s progress in its ESG objectives. The report can be accessed at https://jbpharma.com/sustainability-report/
Business Leaders have increasingly realised that focusing merely on profits is no longer enough, and there is a pressing need to consider broader stakeholder considerations around customers, financial growth, and society at large.
“We are proud to share our inaugural Sustainability Report. It is an important step in the right direction and in line with our motto of good health for a healthier world. We believe in conducting business in a socially, environmentally, and ethically responsible manner with a defined approach towards environmental protection, natural resource conservation, and cost efficiency to ensure safety & health of our employees, communities, & planet at large.”, said Mr. Nikhil Chopra, CEO, JB Pharma.
Companies must also capture the value created for stakeholders, including traditional measures like revenues and costs as well as brand value, diversity and inclusion, sustainability, and community impact. And this should not be viewed as a compliance issue alone.
“JB Pharma has increasingly adopted a multi-stakeholder approach to determine its expectations about Environment, Social and Governance issues. The ESG report focuses on key factors which emerged to be most important for our stakeholders during the materiality assessment of our organisation.”, Mr. Chopra further added.
PE firms have also listed ESG initiatives as one of the top three priorities after talent management and product/strategy expansion. As companies expand their ESG footprint, expectation shift from risk management to value creation for potential investees and portfolio companies. Geopolitical challenges apart, regulators and investors are constantly striving to define the ESG phenomenon and implement matrices to ascertain the role of businesses in a society buffeted by existential challenges like climate change, the pandemic, conflict and social unrest.
Being a responsible company, JB Pharma has been constantly paving the way for enabling a greener and a cleaner world. Since FY 2020 till FY 2022, the organisation has reduced energy consumption by 9.2% and augmented green energy through solar power. Additionally, its Scope 1 and Scope 2 emissions have reduced by 14.6% and 10.7% during the same period. Through its clean and green initiatives, JB Pharma has also ensured that its waste is properly disposed. During the reporting period, waste sent for co-processing stood at 757.65 MT. All sites are Zero Liquid Discharge. While protecting the environment, the organisation has also ensured protection and well–being of its employees.
JB Pharma continuously strives to foster an equitable and desirable work environment through its policies and systems. As a result, the organisation witnessed a 20.6% increase in women representation across plants from FY 2020 to FY 2022 and 73 female employees working on field, in an industry which is usually dominated by their counterparts. Its stringent health and safety practices also ensured zero work-related injuries during the year. With a people-centric approach, its CSR interventions continue to positively impact the lives of thousands across the nation.