In a move that underscores its commitment to sustainability and responsible business practices, Bajaj Group has published its Environmental, Social, and Governance (ESG) Annual Report for the fiscal year 2023-24. The report highlights the company’s initiatives, achievements, and future goals across various ESG dimensions.
In the ESG filiings, the company mentions that it strides in reducing its carbon footprint and enhancing energy efficiency. The company reported a substantial reduction in greenhouse gas emissions, achieved through the adoption of renewable energy sources and the implementation of energy-efficient technologies. The report also details efforts to minimize water consumption and manage waste effectively, showcasing a commitment to environmental sustainability.
The report emphasises Bajaj Group’s dedication to social well-being and community development. Key initiatives include educational programs, healthcare services, and livelihood support projects aimed at improving the quality of life for underprivileged communities. The company has also focused on promoting diversity and inclusion within its workforce, with targeted efforts to increase the representation of women and differently-abled individuals in various roles.
The report highlights that the strong corporate governance remains a cornerstone of Bajaj Group’s operational philosophy. The report outlines the company’s governance framework, which includes stringent policies on ethics, compliance, and risk management. Transparency in business operations and a robust grievance redressal mechanism are highlighted as critical components of maintaining stakeholder trust.
Bajaj Group has invested heavily in research and development to drive innovation that aligns with sustainability goals. The report showcases several breakthrough projects, including the development of eco-friendly products and processes designed to reduce environmental impact. These innovations are part of the company’s broader strategy to achieve long-term sustainable growth while addressing global environmental challenges.
As per the filing, company’s proactive engagement with local communities is a key focus area. Bajaj Group has implemented numerous programs aimed at enhancing education, healthcare, and economic opportunities in the regions where it operates. The report provides detailed accounts of these initiatives, reflecting the company’s commitment to making a positive societal impact.
Bajaj Group has set ambitious targets for the upcoming years, focusing on further reducing its environmental footprint, enhancing social equity, and maintaining high standards of governance. The company aims to achieve net-zero carbon emissions by 2030 and increase the proportion of renewable energy in its operations. Additionally, there are plans to expand community development projects and deepen engagement with stakeholders to foster collaborative growth.