Havells India Limited’s commitment to environmental, social, governance (ESG) and responsible growth has again been recognized by DJSI. The company is ranked 7th among the world’s best electrical equipment companies according to the Dow Jones Sustainability Indices (DJSI) for the current year 2021.
Despite the difficult times of the pandemic and a more stringent ESG rating methodology, Havells jumped 12 basis points to 88 percentile in the industry, ranking 7th globally in the electrical equipment section. Havells has been consistently ranked in the top 10 global companies for ESG performance in the electrical sector over the past three years.
Established in 1999, the DJSI is a globally established ESG assessment conducted annually by its research partner S&P Global. The methodology has continued to evolve over the past two decades, formulating strict criteria for assessing companies on ESG performance.
In addition, this year, in October 2021, for the first time, Havells was upgraded from “BBB” to “A” in the MSCI ESG rating formulated by Morgan Stanley. Established in 1999, the MSCI ESG methodology is formulated to assess a company’s long-term resilience and measure companies’ exposure to ESG risks.
Speaking on the ratings, Anil Rai Gupta, CMD, Havells India Limited, said: “We are pleased to be consistently ranked among the top 10 companies in the DJSI rating for our industry and to have achieved an MSCI rating. improved. It’s a testament to our hard work, political commitment and ESG determination that have led ESG agencies to improve our ratings. We regularly monitor and believe in the transparency of the communication of our ESG performance to our stakeholders. We will remain committed to our vision of doing good for the environment and the communities around us through inclusive and responsible business practices. “
Havells consciously undertakes various initiatives in the ESG aspects of its business, such as the transition to low carbon manufacturing, which has led to a 47% reduction in carbon intensity compared to fiscal 2015-16 . To support the vision of sustainable development, the brand has increased its R&D spending to develop innovative eco-design products. The organization recorded zero fatalities and a 50% reduction in the Lost Time Injury Frequency Rate (LTIFR) compared to fiscal year 2019-2020. We have been recognized as a Great Place to Work Certified Organization for the third time in a row.
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