Network18 has published a report on business responsibility and sustainability for the fiscal year 2023-24.
Network18 has published a report on business responsibility and sustainability for the fiscal year 2023-24.
Network18 Media & Investments Limited in Mumbai, India released BRSR for the fiscal year 2023-24 for Network18, one of India's top media and digital broadcast companies, focusing on sustainability, responsible business practices, and stakeholder welfare in line with ESG principles.
With extensive reach in broadcasting and digital media, Network18 cuts across India and international boundaries as it reaches the maximum possible audience through its television channels, digital platforms, and publishing ventures.BRSR of the company brings to light its integrated approach to ESG, balancing commercial objectives with societal and environmental stewardship.
Commitment to Sustainability and ESG Integration
As part of its long-term sustainability vision, Network18 is aligned with the global and national frameworks and policies such as National Guidelines on Responsible Business Conduct, principles of United Nations Global Compact, and International Labour Organization. Commitment to Sustainability and ESG Integration. As part of its long-term sustainability vision, Network18 is aligned with the global and national frameworks and policies such as National Guidelines on Responsible Business Conduct, principles of United Nations Global Compact, and International Labour Organization. The operational strategy of the company reflects its commitment to embedding ESG principles across its value chain and ensuring a positive impact for stakeholders and the environment. Our thrust remains on sustainable growth while creating long-term value for all the stakeholders."Employee Well-being and Inclusive Workplace
Network18 has more than 5,000 employees, who enjoy a holistic set of well-being initiatives:
Health and Safety: All the employees are covered under health and accident insurance. All offices conduct tailored wellness programs and regular fire safety drills. The company also arranges webinars on mental and physical health for healthy wellness.
Diversity and Inclusion: Female representation stands at 22.73%, and there are two women directors on the board.The company has six employees with specially abled and the workplaces are designed to be disability friendly and accessible as stated under the Rights of Persons with Disabilities Act, 2016.
Skill Development: Trained more than 5,000 employees on skill enhancement, health awareness, and safety measures during FY 2023-24. Performance reviews and career development sessions were conducted for 100% of eligible employees. Network18 has a zero-tolerance policy towards sexual harassment and has an Internal Complaints Committee to deal with workplace grievances.
Environmental Stewardship
Being in the service sector, Network18, too, is reducing its carbon footprint by adopting environmentally friendly practices: Energy Management: The company consumed a total of 7,01,24,750 megajoules of energy, majorly non-renewable sources. This is due to the integration of TV18 Broadcast Limited and e-Eighteen.com Limited into Network18. Work is going on to shift more toward renewable sources of energy for better sustainability. Water Conservation: The company consumed 28,46,769 liters of water during the reporting period. This consumption was strictly restricted to regular office use. Network18 has taken steps for the prevention of wastage and proper utilization of water. Waste Management: The company ensures that its e-waste is disposed of in an environmentally friendly manner by authorized agencies. No hazardous or non-hazardous waste was produced during the year. Network18 also adheres to emission standards. The Greenhouse gas emissions, Scopes 1 and 2 are reported at 13,543 metric tons of CO2 equivalent. Ethical Governance and Transparency Network18 has a sound governance framework ensuring ethical practices and legal compliances. The following are some of the measures in this regard: Policies and Frameworks: Anti-Bribery and Anti-Corruption Policy, Whistleblower Policy, Code of Conduct of the Company- Transparency, accountability, and high ethical standards are practiced. FY 2023–2024 Compliance Record 100% adherence to company policy on the front of labour and environmental laws There are no documented instances of data breaches, conflicts of interest, or regulatory non-compliance. Stakeholder Engagement Network 18 communicates openly with all of its stakeholders, including consumers, employees, and investors. Key Opportunities and Challenges- The report mentions key focus areas that are opportunities and challenges at the same time: Opportunities.
- Access to digital access and use of new technologies for making content more engaging and relevant for customers.
- Content integrity: to fight against misinformation and win the trust of audiences.
- Diversity and inclusion for innovation and balanced decision-making.
- Challenges Maintaining complete compliance across operations, regulatory changes.
- Talent retention in this highly competitive media industry, given rapid rates of technological change.
- Data protection and cyber security to bring about trust in customers.
Stakeholder Engagement
Network18 is interactive with its stakeholders with whom it has developed a relationship to share their concerns and build deeper relationships. Some strategies used include:- Employees
- Ongoing feedback sessions and career development programs
- Health awareness initiatives to foster a growth in workforce and happiness among them.
- Customers: Conduct regular surveys and provide feedback mechanisms to ensure that high-quality service is provided and that audience expectations are met.
- Investors: Use media releases, shareholder meetings, and quarterly reports to communicate openly.
- Communities: Collaborate on social impact and community development initiatives with NGOs and neighbourhood groups.
- Promote diversity initiatives to establish a fair work environment.
- Enhance governance mechanisms to ensure ethical and transparent actions.
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