Laurus Labs Limited continues to drive its sustainability initiatives and further proves the company’s intent toward environmental responsibility and ethical governance. The report of FY24 placed before the shareholders illustrates the implementation of the company toward global standards of sustainability, its governance, and investing in green practices. Even the privacy policy refers to the fact that, for the FY24 and FY23 periods, there are no instances of such happenings that the directors, KMPs, employees, or workers are being disciplined for any activity connected with bribery or corruption. Additionally, there were no grievances received concerning the conflict of interest between the board members and KMPs during the same period. This further enhances Laurus Labs’ ethical framework and commitment to corporate governance.
The policies of the company are in tune with the National Guidelines on Responsible Business Conduct (NGRBC) approved by the Head of Departments (HOD). High employee engagement has been another critical area, with various programs designed for gathering feedback and fostering safety awareness among the workforce. Laurus Labs has a good record of environmental compliance; therefore, no EPR is required. The company is conscious of human rights, and on its premises, no grievances have been reported. Also, its premises are accessible to all differently-abled visitors.
The most significant statistic from the total waste generated in FY24 stood at 44,843 metric tons. The company manages its system through incineration, landfilling, and other methods of disposal. In FY24, Laurus Labs incinerated 818 tons, landfilled 5,752 tons, and disposed of waste through alternative means for 11,126 tons. The company continues to find better alternatives for sustainable methods of waste disposal.
It is obvious therefore that R&D investment underpins sustainability at Laurus Labs; the company invests 7.29% of its R&D into enhancing environmental and social impact. The company also continues to be at the forefront of advocating sustainable sourcing. Today, 63% of its inputs are sourced sustainably. Such an approach, of course, certainly bolsters the credentials of the eco-friendliness of the company but also makes the supply chain healthier and more resilient. And, on energy management, Laurus Labs is making significant strides. In the company, 117,672 GJ of energy was saved through the procurement of 42,594 tons of steam using a waste heat recovery system. Also, solar power has been a major part of Laurus Labs’ energy mix, for which 74,426 GJ of in-house solar power is consumed in the company during the year. The company also implemented energy-saving technologies like a temperature controller and variable frequency drives that saved 6,007 GJ and 216 GJ, respectively.
On the corporate website, Laurus Labs’ privacy policy and sustainability report provide clear insights about their efforts to improve efficiencies without harming the environment. With ethical governance, sustainable sourcing, and innovative energy management, Laurus Labs is on a path toward aligning with global standards for sustainability.
In conclusion, Laurus Labs Limited is a company that is more sustainable and ethically governed. Strategic investments in research, energy efficiency, and waste management best indicate the firm’s obligation to its mission of reducing its effects on the environment while ensuring good business conduct. As the company continues on its way, it will continue to focus on sustainability in all operations to ensure both preservation and social responsibility.
Source: BRSR
Credits: Laurus Labs Limited