55 The recent COP 28 conclude that the world’s efforts to address climate change under the Paris Agreement was slow across all actions of climate change - from reducing greenhouse gas emissions to strengthening resilience to a changing climate. The mandate to governments is to speed up the transition away from fossil fuels to renewables such as solar and wind to meet the goal of limiting the global temperature rise to 1.5oC to pre-industrial levels, and achieve net-zero. In our efforts to ensure we provide access to high quality active ingredients, we are striving to implement strategies, systems and technologies to reduce the effects of climate change. We allocate specific budget on energy management and GHG emission reduction. A total of 0.616 cr was spent on GHG Emission reduction in FY 24. We have drawn out a decarbonization plan to help achieve our targets to reduce the emissions arising out of our operations and across the value chain. Our Goal and Approach Our Decarbonization Levers By 2027: • Reduce specific greenhouse gas emission by 30% • 70% of our energy requirement with renewable sources Renewable energy Transition from fossil fuels and avoid emissions • Partnered with Group Captive power project for supply of wind power to our manufacturing unit. • Power Purchase Agreements (PPA) signed for procurement of renewable power Adopt Mitigation Targets Emission reduction in line with climate science Set Science Based Targets Initiative (SBTi) We are committed to set near-term company-wide emission reductions in line with climate science with the SBTI. These are 5-10 year GHG (Greenhouse gas) mitigation targets in accordance with the Paris Agreement’s aim to limit global temperature rise to 1.5°C to avoid the catastrophic impacts of climate change. We are currently working out the near-term emission targets and will submit our targets for validation to SBTi by June 2025. Energy Conservation Reduce emissions and improves the carbon footprint • Certified ISO 50001 Energy Management System to systematically promote efficient energy management • 4 Energy conservation projects implemented • Generated energy savings - 2160 GJ/annum in FY2023 - 1440 GJ/annum in FY2024 Waste Heat Recovery Reduce CO2 emissions and costs there improving energy efficiency • Installation of Pressure Powered Pump Unit (PPPU) at Multiple Effect Evaporator to recover flash steam and steam condensate, contributing to increased boiler efficiency • Achieved significant energy saving of 295.2 GJ/annum Climate Action
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