ITC Chairman Sanjiv Puri reiterated the significant role businesses must play in shaping a greener and cleaner future for the world…reports Asian Lite News
ITC, a diversified Indian conglomerate, has released its Sustainability and Integrated Report 2023 titled “Shaping the Future”.
In his message, ITC Chairman Sanjiv Puri reiterated the significant role businesses must play in shaping a greener and cleaner future for the world.
This report marks two decades of sustainability reporting for ITC.
The company’s innovative business models have positioned it as the sole enterprise worldwide, comparable in size and scope, to have achieved and maintained the three crucial global environmental sustainability indices.
These indices include being ‘water positive’ for 21 years, ‘carbon positive’ for 18 years, and ‘solid waste recycling positive’ for 16 years.
By adhering to this approach, ITC and its various business divisions have been able to support sustainable livelihoods for over six million individuals.
ITC is currently acknowledged as a global leader in sustainability, thanks to its numerous accomplishments and its commitment to innovative, inclusive, and impactful initiatives.
The company has consistently maintained an ‘AA’ rating by MSCI-ESG for five consecutive years, solidifying its position as a sustainability exemplar on a global scale.
Furthermore, ITC has been included in the Dow Jones Sustainability Emerging Markets Index and has received an ‘A-‘ rating at the Leadership Level for Climate Change, Supply Chain, and Water Security by CDP.
The ITC report acknowledges the prevailing state of permacrisis and uncertainty in our world today.
Referring to 2023 as the year of ‘polycrisis,’ the World Economic Forum has highlighted critical areas such as climate change, food and energy shortages, and more, signifying that the world is at a pivotal moment.
The recent IPCC Synthesis Report on Climate Change has warned that India is among the countries that face the highest risk from climate change related events like heat waves to cyclones and displacement. In this context, enterprises with their immense and multi-dimensional resources can play a significant role in alleviating such challenges.
ITC, inspired by its credo of “Nation First: Sab Saath Badhein”, has placed sustainable and inclusive growth at the heart of its corporate strategy under the leadership of Chairman Sanjiv Puri.
With a focus on responsible competitiveness, ITC is actively pursuing Sustainability 2.0, an agenda that redefines sustainability in the face of pressing challenges like climate change and social inequity.
Sustainability 2.0 strengthens ITC’s extensive efforts in combating climate change, achieving a net-zero economy, ensuring universal water security, restoring biodiversity through nature-based solutions, establishing a circular economy for post-consumer packaging waste and scaling up programs for large-scale sustainable livelihoods.
One of ITC’s major efforts is the Climate Smart Agriculture programme that aims to de-risk farmers from unpredictable weather conditions. This program concentrates on promoting high-yielding and climate-resilient crop varieties, adopting suitable mechanisation practices, reducing stubble burning, and offering institutional services.
So far, it has positively impacted 740,000 farmers, covering 2.3 million acres across 17 states. ITC is committed to surpassing its goal of making 3 million acres climate-resilient well in advance.
ITC recently launched “ITC Mission Millets”, recognising the tremendous potential of millets. With their low carbon and water footprint, ability to withstand high temperatures and adaptability to poor soils, millets offer a holistic solution for long-term food security in the context of drought, water scarcity, and climate change.
ITC Mission Millets aligns with the government’s vision to introduce India’s nutrient-rich “super-grain” to the global market, emphasizing its significance on a global scale.
ITC’s comprehensive Biodiversity Conservation program has successfully restored 290,000 acres of land across 12 states.
With a commitment to further restore degraded village commons and pasturelands, ITC aims to enrich biodiversity across 1 million acres by 2030.
Additionally, ITC’s Integrated Watershed Development Program has made a significant impact, covering approximately 1.47 million acres of water-stressed areas and benefiting over 400,000 individuals.
ITC has demonstrated its commitment to sustainable practices in its business operations. ITC Hotels boasts the world’s first 12 LEED Zero Carbon hotels and 2 LEED Zero Water properties.
The Foods unit in Malur received the AWS Platinum level certification for water stewardship, while the Paperboards Unit in Kovai became the first paper mill globally to achieve this recognition.
Additionally, ITC Sankhya in Bengaluru holds the distinction of being the world’s first data center with LEED Zero Carbon certification.
In response to the global disruptions and challenges brought about by the pandemic, ITC initiated a comprehensive strategy reset called ‘ITC Next’ a few years ago. This strategic shift reaffirmed ITC’s commitment to becoming a Competitive, Climate Positive, and Inclusive enterprise.
As part of this vision, ITC has placed a heightened emphasis on accelerating digital transformation, fostering agile and purposeful innovation, strengthening resilient supply chains, empowering talent and demonstrating leadership in sustainability.