Star Cement Limited has announced the publication of its Business Responsibility and Sustainability Report (BRSR) for the fiscal year 2023-24. The report underlines, in detail, the commitment of the company to responsibly undertaking business, with a focus on ethical governance, care for the environment, and social responsibility. It forms an intrinsic part of their annual disclosures in compliance with the SEBI regulations. With roots in northeast India, Star Cement is committed to responsible manufacturing and environmental preservation and also to the interests of the local community.
The core of the Star Cement operation seems to be sustainability, focused on several key areas. The report describes the company’s activity about several of the principles underlying employee welfare, environmental protection, and business ethics. It is a leading cement and clinker manufacturer; 99% of the turnover emanates from these products.
The report has pointed out some important milestones reached within the environment management, which include a reduction in the clinker factor by 28.59% with fly ash and slag, hazardous waste management in an environmentally friendly way, reasonable use of water, energy efficiency through the help of alternative sources of energy, and biodiversity conservation in the vicinity of its operation.
In the social sphere, Star Cement has striven to increase diversity and inclusion in its workforce. The presence of 12% women in the workforce on the board of directors enables it to create a more inclusive environment. The health and safety policies of the company have brought all its employees under insurance plans that also cover accident and maternity benefits.
Star Cement attaches much relevance to corporate governance. It adheres to a Code of Conduct directed toward undertaking ethical conduct at all levels of management, with specific emphasis on anti-corruption and grievance redress mechanisms. This commitment is also reflected in its engagement with stakeholders like employees, customers, and suppliers.
The major milestones achieved in 2023–24 are how the company effectively responded to concerns regarding air quality around its cement plants. The company took steps in the installation of continuous air monitoring systems and adhered to environmental laws. In addition, it has set ambitious targets to become water-positive and reduce GHG emissions by using renewable energy and enhancing waste heat recovery.
Conclusion
As stated in the BRSR 2023-24, Star Cement remains committed to its sustainable business model, which effectively balances profitability with social and environmental responsibility. Thus, by keeping a strong focus on employee welfare, energy efficiency, and community engagement, among others, Star Cement is consistently making its presence felt in the sphere of positive socio-economic impact and environmental sustainability. Its future-oriented approach, coupled with adherence to best ethical practices, indeed places it in the front rank in the sustainable development journey of the cement sector.
Source: BRSR
Credit: Star Cement Limited
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