Rishabh Instruments Limited, a leader in manufacturing electrical measuring instruments and industrial control products, has released its Business Responsibility and Sustainability Report for the financial year 2023-24. According to the report, it is committed to achieving sustainability for its environmental responsibility, the welfare of its employees, and to raising governance standards. In that respect, this year’s report brings out the steps that Rishabh Instruments has taken in the integration of sustainability with its core business while addressing the challenges and harnessing opportunities thrown up by the rapidly changing industrial environment.
Established back in 1982, Rishabh Instruments Limited has a long-standing reputation for innovating solutions and quality in the manufacturing sector. The BRSR for 2023–24 presents all-inclusive overviews of its sustainability initiatives spanning sectors such as energy management, waste reduction, well-being for employees, and governance. The report mirrors Rishabh’s commitment to responsible and sustainable operations that assure long-term value creation for its stakeholders.
The 2023-24 BRSR of Rishabh Instruments has enumerated certain key achievements vis-à-vis environmental management. First, the company has been able to increase the consumption of solar energy in the manufacturing processes. In the current financial year, the total consumption of solar energy at the company was approximately 11,791.6 gigajoules, which is quite an appreciable increase over the previous year. A small part of this greater strategy at Rishabh is to make a dent in its ecological impact and be a meaningful contributor to global efforts at arresting climate change.
Apart from the energy management policy, the report also sheds light on the waste management practices of Rishabh. It is observed that the company maintains serious protocols in terms of safe disposal of hazardous wastes, including e-waste and non-hazardous wastes like ferrous and non-ferrous metals. The initiatives have reduced the waste intensity of the company to a large extent. This is quite an important element of operational efficiency without affecting the environment.
Employee welfare is another major thrust area for Rishabh Instruments’ sustainability. The report itself speaks of the company’s various initiatives to ensure a safe and healthy work environment by way of regular training on health and safety measures, first aid, and emergency response procedures. Rishabh has undertaken various other programs aimed at enhancing employee welfare through annual medical check-ups, blood donation camps, and yoga sessions. These programs express concern for a supportive and inclusive workplace culture.
It also reiterates Rishabh’s commitment to governance standards. The company has developed effective policies designed to address bribery and corruption, conduct ethical business, and continuously conduct reviews to ensure that the policies remain relevant in the face of changing regulatory and legislative requirements and industry practice. Besides, Rishabh ensures a high level of transparency in conducting its operations, making detailed disclosures of its environmental and social performance.
Conclusion
The 2023-24 BRSR of Rishabh Instruments Limited is a strong demonstration of its commitment to sustainability and responsible business practices. With the growth of the company in increasing its operations, it remains focused on integrating ESG into its central business strategy. All achievements reported herein further underline the leadership that Rishabh holds in the manufacturing sector toward creating long-term value for stakeholders. With a focus on the three elements of environmental responsibility, welfare, and governance, Rishabh Instruments is well-poised to handle the challenges of times ahead and be an enabler in creating a more sustainable world.
Source: BRSR
Credit: Rishabh Instruments Limited