JB Pharma commits to achieving ESG objectives in its sustainability report

JB Chemicals & Pharmaceuticals Ltd |

Mumbai: JB Chemicals & Pharmaceuticals Ltd. published its first sustainability report, in which it highlights its commitment to achieving its environmental, social and governance objectives and to spreading responsible practices in its operations.

The report is prepared in accordance with the International Framework of Reporting Standards, using the Global Reporting Initiative as the base standard, and has links to the Sustainable Development Goals.

“We believe in conducting business in a socially, environmentally and ethically responsible manner,” said Nikhil Chopra, CEO of JB Pharma.

Companies are realizing that it is no longer enough to focus solely on profits, as they must measure the value generated for stakeholders, which not only includes more conventional measures such as revenue and costs, but also the value branding, diversity and inclusion, sustainability and community impact. Plus, it’s more than a compliance issue.

JB Pharma has increasingly taken a multi-stakeholder approach to determining its expectations regarding environmental, social and governance issues, Chopra said.

The ESG report focuses on the factors that emerged as most important to stakeholders when evaluating the organization.

From fiscal year 2020 to fiscal year 2022, the organization reduced its energy consumption by 9.2% and increased green energy through solar power. In addition, its Scope 1 and Scope 2 emissions were reduced by 14.6% and 10.7% over the same period. JB Pharma has also ensured that its waste is properly disposed of.

The representation of women in business has increased by 20.6% over the same period in the industry, which is generally dominated by corporate peers.

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