JB Pharma commits to ESG in its maiden Sustainability Report

J B Chemicals and Pharma yesterday published its inaugural sustainability (ESG) report, prepared following the international reporting standards framework, the Global Reporting Initiative (GRI) as its core standard, and linkages with the Sustainable Development Goals (SDGs). The report reflects on JB Pharma’s commitment to cascading practices across all operations responsible, and fostering transparency regarding the company’s progress in its ESG objectives, according to a statement from J B Chemicals and Pharma.

Business leaders have increasingly realised that focussing merely on profits is no longer enough, and there is a pressing need to consider broader stakeholder considerations around customers, financial growth and society at large.

“………….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 to ensure safety and health of our employees, communities and planet at large,” said Nikhil Chopra, CEO, JB Pharma, in the statement.

Further, according to the statement, companies must also capture the value created for stakeholders, including traditional measures like revenues and costs as well as brand value, diversity and inclusion, sustainability and community impact; and this should not be viewed as a compliance issue alone.

“JB Pharma has increasingly adopted a multi-stakeholder approach to determine its expectations about Environment, Social and Governance issues. The ESG report focusses on key factors which emerged to be most important for our stakeholders during the materiality assessment of our organisation,” Chopra further added in the statement.

It also notified that since FY 2020 till FY 2022, JB Pharma has reduced energy consumption by 9.2 per cent and augmented green energy through solar power. Additionally, its Scope 1 and Scope 2 emissions have reduced by 14.6 per cent and 10.7 per cent during the same period. Through its clean and green initiatives, the company has also ensured that its waste is properly disposed. During the reporting period, waste sent for co-processing stood at 757.65 MT. All sites are Zero Liquid Discharge.