Mumbai, March 30th, 2022: IG International, one of India’s leading fresh fruit importers, has appointed PricewaterhouseCoopers Services LLP (PwC) to aid in the efficient incorporation of its environment, social and governance (ESG) programmes. The fresh fruit importing giant’s conscious efforts to curate a calculated plan that helps in the facilitation of sustainable serviceability, pervasive environmentalism, and overarching governance, will be bolstered by this assistive cooperation. The engagement is mapped by PwC and monitored to mirror the relevant global ESG frameworks in accordance with standard industry practices.
IG International as a brand has always been a leader in its commitment to an organic transformation toward a sustainable fresh produce value chain within its segment. The brand is driven by the objective of achieving excellence, innovation, and performance in a sustainable manner. They have been the forerunners in pushing the envelope of innovation and creative functionality, but without pushing the boundaries of sustainability. A constant effort is being dedicated to positioning IG International as an environmentally responsible company through the mapping of industry sustainability compliance parameters such as SASB, GHG Emission, and Carbon Footprint Analysis.
As a part of the engagement, PwC has diligently evaluated IG International’s operational model to bifurcate the issues that need remedy and the positives that can be adapted as solutions. Some key indicators have been used to highlight the material requirements of the customers and the employees, where priorities have been recognized and ranked as high, medium, and low. The review also embodies a very methodologically refined four-step materiality analysis. The material process embraces all the requirements through a panoptic lens and tapers them to a manageable list of 14 critically salient and accentuated material issues that need to be addressed.
Further, the extensive report also familiarizes IG International with the proposed sustainable solutions for the betterment of the central issues traced through internal stakeholder participation conducted by PwC.
IG International’s comprehensive and consistent efforts to align and adhere to the CSA have been ingrained and pervasive in their operational model. PwC’s ESG vision report would further propel the leading fruit importers to map, align, and implement a vast parameter-based solution stack, reinvigorating their position as a sustainable and environmentally conscious company.
The company’s ESG vision’s strategic objectives and progress has been measured and managed to thrive in the three key aspects:
Environment:
– IG International is looking to make a 70% transition to renewable energy by 2027 with 25% reduction in energy consumption by 2025.
– Farming efficiency to go up by 25% by 2025 in order to reduce 30% water consumption by 2025.
– Paper consumption to be reduced by 50% with 100% recyclable packaging by 2025.
– A 100% reduction in carbon footprint by 2023 with 50% net-zero logistics fleet by 2030.
Social
– A 25% increase in the employee training hours by 2025
– A 100% employee training based on the UN guiding principles of business and human rights.
– 40% of women in the workforce by 2030
– Incorporating measures for gender pay parity for the same roles and positions
– Emboldening 100 local sustainability programs by 2025.
Governance
– A 100% FSC, PEFC, or SFI certified packaging of boxes by 2025.
– 100% sustainably grown product volume by 2025
– The inclusion of 5% MSMEs in the value chain by 2025
– S&P Global Gold Class Rating to be attained by 2027
– 100% compliance of all employees and suppliers to COC and SCOC by 2022 and 2023 respectively
– Become a member of the FTSE4 good index series by 2025
– Sustain analytics ESG minimum risk rating of low by 2027
Speaking about the virtues of capacitating IG International’s efficacy for ESG vision through PwC, Mr. Tarun Arora, Director of Finance and Operations of IG International, said, “At IG International, we’ve given paramount importance to the curation of overarching development that permeates all our processes and serviceability. With PwC being leaders in research technology, this association to capacitate and invigorate our ESG program further reiterates our relentless commitment towards sustainable obligations, environmental modality, and practising omni-corporeal governance.”
Elaborating on the incorporation of the ESG vision, Mr. Sambitosh Mohapatra, Leader – ESG/ Energy Utilities and Resources, PwC, said, “There is a need for more companies in the Agribusiness domain to take ESG initiative seriously and be part of the ESG journey which can help them find the right solutions on the path towards sustainability. Our program underpins the conscious operability of our clients by following the ESG frameworks in accordance with standard industry practices and set them in motion to achieve the SDGs seamlessly.”