Bangalore, 28th January 2023: Tata Chemicals has been conferred with the Silver award and Rallis India has bagged Plaque at the recently held ICAI Sustainability Reporting Awards 2021-22. This award recognizes the efforts of companies toward envisioning and implementing strategies to help achieve the United Nations Sustainable Development Goals (SDG) 2030.
This award is an endeavor to benchmark global best practices to recognize and reward excellence in sustainability reporting. Sustainability practices are at the core of business operations at Tata Chemicals and its subsidiary companies. Over the years these companies have built their intellectual and financial capabilities to integrate sustainability considerations into business decisions and key work processes and to create value, mitigating future risks while maximizing opportunities.
Talking about the award Mr. Nandakumar Tirumalai, CFO of Tata Chemicals said, “At Tata Chemicals and its subsidiary companies we have prepared ourselves for this new era by adopting sustainability initiatives across all our operations across geographies. We are focused on getting measurable outputs on the sustainability front and improving our reporting standards to our stakeholders. Our ambition of cutting carbon footprints by 30% by 2030, leveraging green chemistry for our sustainability goals, Rallis India getting re-certified as a ‘Responsible Care’ company by the Indian Chemicals Council is a reflection of our commitment towards sustainability. We are grateful to get this recognition.”
In 2022, Tata Chemicals commissioned the UK’s first at-scale Carbon Capture and Utilisation facility (CCU) that reduces carbon intensity and provides a sustainable in-house source of critical input. Successfully operationalized in FY22, the CCU facility captures food and pharmaceutical-grade CO2 for consumption in the Sodium Bicarbonate plant. The principles of ‘reduce and reuse’ govern Rallis’s waste and water management efforts. All manufacturing units are ‘zero liquid discharge’ ones. Treated water is recycled back into the manufacturing process. Also, waste from the processes is converted into valuable by-products. These are a few initiatives by Tata Chemicals and its subsidiaries for environmental protection.
ICAI Sustainability Reporting Awards for the year 2021-22 is conferred to companies to honor businesses for implementing efficient and innovative sustainable business practices. The Institute of Chartered Accountants of India (ICAI) is a statutory body established under the Chartered Accountants Act, 1949 for regulating the profession of Chartered Accountants in India. Sustainability Reporting Standards Board (SRSB) has been constituted by the Institute of Chartered Accountants of India (ICAI) in February 2020, with the mission to formulate comprehensive, globally comparable, and understandable standards for measuring and disclosing non-financial information about an entity’s progress towards United Nations Sustainable Development Goals (SDG) 2030.