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India-based Transworld Group, a leading Global Shipping & Logistics Solution conglomerate, recently released its sustainability report (SR) for FY22-23.
Titled Leading by Values, Built on Trust, this is the company's second SR and outlines the Group's efforts in the Environmental, Social, and Governance (ESG) spheres.
In accordance with GRI and SASB standards, the sustainability report maps the company's material issues against the United Nations' Sustainable Development Goals (SDGs). Among the noteworthy initiatives outlined in the report are the introduction of ESG KPIs with a balanced scorecard and a sustainability survey for vendors. As compared to the previous FY, the Group reported a 6.45% decrease in Scope 1 Emission intensity and a 5.4% decrease in energy consumption. The company has also committed to achieving carbon neutrality by 2043 and will be carrying out Carbon Intensity Indicator (CII) measurement ratings for all vessels.
The Group's 2023-2027 five-year vision is to empower at least 2,50,000 individuals through its CSR programs and volunteering activities for projects that align with its focus areas: stewardship of marine environment; health, food, and water security; arts, education and civic engagement, and gender diversity and equity.
"This report is a comprehensive representation of our unwavering dedication to our ESG roadmap and reflects the collective efforts of every individual within our organization. As we unveil this report, we acknowledge that sustainability and ESG considerations must be intricately woven into the fabric of our organization—from our overarching purpose to governance, strategy, decision-making, risk management, key performance indicators, and accountability reporting.
Our second Sustainability Report, grounded in global standards such as the Global Reporting Initiative (GRI), Sustainability Accounting Standards Board (SASB), United Nations Global Compact (UNGC), and United Nations Sustainable Development Goals (UNSDGs), meticulously analyzes our progress across key indicators. These include greenhouse gas emissions, employee diversity, community engagement, and governance structures," said Mr Ramesh S. Ramakrishnan, Chairman, of Transworld Group.
"We have taken a significant step forward by finalising a Vendor Sustainability Survey. This initiative is aimed at understanding the sustainability journey of our value chain members. By collaboratively gathering insights, we aim to formulate a robust strategy to work together towards shared sustainability goals. This endeavor reflects our commitment to extending the principles of sustainability across our entire network," he added.
