JB Pharma commits to ESG in its Sustainability Report
One of India’s fastest-growing businesses, J B Chemicals & Pharmaceuticals Ltd (JB Pharma), has released its first Sustainability(ESG) Report. The Global Reporting Initiative (GRI) serves as the report’s Core Standard, and there are connections between the report and the Sustainable Development Goals (SDGs). The paper discusses JB Pharma’s dedication to transparently tracking the company’s progress against its ESG goals and cascading responsible practices throughout its operations. Visit https://jbpharma.com/sustainability-report/ to access the report.
Business leaders are increasingly realizing that concentrating only on profits is no longer sufficient and that it is vital to take into account wider stakeholder considerations related to customers, economic development, and society as a whole.
We’re honored to present our first Sustainability Report. It is a significant step forward and consistent with our philosophy, “excellent health for a healthier world.” In order to ensure the safety and health of our employees, communities, and the planet as a whole, 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.
Additionally, businesses need to measure the value generated for stakeholders, which includes not just more conventional metrics like revenues and costs but also brand value, diversity and inclusion, sustainability, and community impact. Furthermore, this is not just a compliance concern.
“JB Pharma has embraced a multi-stakeholder approach to better understand its expectations about issues relating to governance, social challenges, and the environment. The ESG report concentrates on key elements that our stakeholders identified as being most essential throughout our organization’s materiality evaluation, Mr. Chopra continued.
ESG activities are among the top three priorities, along with personnel management and product/strategy expansion, according to PE firms. Expectations change from risk management to value generation for potential investees and portfolio companies as businesses increase their ESG footprint. Regulatory bodies and investors are continually working to define the ESG phenomena and adopt matrices to determine the role of firms in a society beset by existential concerns including climate change, the pandemic, conflict, and social unrest, aside from geopolitical challenges.
JB Pharma has consistently paved the path for enabling a greener and cleaner world as a responsible business. The organisation increased green energy through solar power and decreased energy usage by 9.2% between FY 2020 and FY 2022.
Through its policies and systems, JB Pharma consistently works to promote a fair and appealing workplace. In an industry where men typically dominate, the organisation saw a 20.6% rise in the participation of women across plants from FY 2020 to FY 2022, as well as 73 female employees working in the field. As a result of its strict health and safety procedures, there were no work-related injuries throughout the year. Its CSR activities continue to have a beneficial effect on thousands of people’s lives across the country by taking a people-centric approach.