Apex Frozen Foods Ltd. has released its Business Responsibility and Sustainability Report (BRSR) for the fiscal year of 2023-24. The report will summarize efforts on responsible business conduct, sustainability, and ethical practices by India’s National Guidelines on Responsible Business Conduct (NGRBC). Established in 2012, Apex Frozen Foods is one of the prominent shrimp processing and export companies, with the primary business focused on sustainability and social responsibility. A report sheds light on their approach toward ESG factors, majorly emphasizing Apex’s commitment to creating a sustainable business that also works ethically.
Apex Frozen Foods, which generates 94 percent of revenues through the exportation of shrimp, primarily focuses on the US, European Union, and China market areas. The company operates two processing plants, a pre-processing plant, and three hatcheries in India. Apex’s success hinges on the strength of its supply chain and association with shrimp farmers, distributors, and vendors to ensure the delivery of quality products.
An important dimension of BRSR is Apex’s sustainability as well as human capital management. Apex recognizes risks and opportunities in human resource management to attract skilled labor, ensure productivity, and enhance diversity. The firm focuses on the training program to improve skill and safety practices for the 2463 employees. There is also an important element: 35.0% of the Board of Directors are women.
The environment: Apex invests in innovation through the installation of solar power facilities that are geared towards consuming a minimal amount of energy. Apex ensures a chain of responsibility to the environment through its belief that all sourcing activities should be sustainable; the company has set targets for cutting down on the usage of energy through renewable sources.
Its operations in rural India engage locals for jobs, thus ensuring sustainable employment opportunities. CSR projects include education, sanitation, health, and more.
Apex has ascensional worldwide certifications such as BRC British Retail Consortium Global Food Standards and conformance to international and national standards for environmental and social accountability. The company then proceeds to explain its conformance to the national environmental provisions; for example, it considers water and air pollution laws regarding its environmental practices. The company ensures that waste management is strict, recycling, and recovering waste.
The report also features Apex with no complaints linked to human rights or corruption filed during the last fiscal year. Furthermore, it has engagements with the community and other stakeholders through meetings and training sessions to discuss any concerns and improve cooperation for mutual benefit.
Apex Frozen Foods Ltd.: leading through responsible business practice and community engagement through its Business Responsibility and Sustainability Report for FY 2023-24. The transparency demonstrated in environmental risk management as well as care for workers and sustainability of the supply chain very well illustrate a new-age approach to managing business growth. In the enhancement of the ESG framework, Apex has set a trend whereby businesses can thrive with sustainability, more importantly impacting society positively and equally supporting the environment.
Source: BRSR