~ Greenply Industries Ltd releases its maiden ESG Report outlining the roadmap to attain its sustainability goal ~

~ Greenply Industries Ltd releases its maiden ESG Report outlining the roadmap to attain its sustainability goal ~

Mumbai, February 18th, 2023: Greenply Industries Limited, one of India’s largest interior infrastructure brands with over 30 years of experience in manufacturing a comprehensive range of plywood, block boards, decorative veneers, flush doors, and other allied products, has yet again taken a leadership role by releasing its first Sustainability Report. The report has been developed referring to the guidance under the Global Reporting Initiative (GRI) Standards, highlighting the brand’s sustainability journey through its initiative ‘ESG360’. This is the first sustainability report released by any brand in the Indian wood panel industry, marking a dynamic change in this sector.

As a part of its ESG journey, Greenply will be strengthening its systems and processes in order to generate data and track progress against key performance indicators based on the material topics. Going forward, Greenply will be reporting across the six capitals as per the Value Reporting Foundation which includes manufacturing capital, natural capital, social capital, intellectual capital, financial capital, and human capital. The six capitals model will provide the company with a balanced approach that will not only improve its investment decision-making processes but also integrate Sustainable Development as a behavior and an aspirational set of goals for the brand.

Speaking on the report launch, Mr. Manoj Tulsian, Joint Managing Director & CEO, of Greenply Industries Ltd said, “Sustainability has been embedded in our roots over the years. We take this philosophy ahead as part of our core strategy as we embark on a formal journey with ESG initiative while we grow responsibly. With ‘ESG360’, Greenply has already started cultivating a business strategy that confers due respect to people and the planet. We are very optimistic that this sustainability report is a foundation stone for all our endeavors towards transforming into a progressively sustainable and resilient organization in the years to come.”

Led by a sustainability-oriented approach, Greenply has been undertaking extensive plantation activities over the past several decades leading to responsible procurement of raw materials. Besides environmental protection, the plantation activity helps maintain the financial viability of the ecosystem as it generates employment for the local inhabitants too. Greenply has also attained the FSC® – FM (Forest Management) Certification from the Forest Stewardship Council (FSC®) for its sustainable plantation unit located in Tizit, Nagaland, and is the first company to have successfully achieved this certification in the interior infrastructure segment in India. To date, Greenply has planted around 19.5 million saplings covering an area nearly of 24,500 acres of plantation.

Greenply strives to be a net zero-waste company. The Company consumes all the waste products as fuel in the boilers, for example wood chips formed during the plywood manufacturing process are used for energy generation. Even the wastewater from the production is channeled into the reservoirs that provide water for sprinklers, helping to replenish the ground water table. Greenply has been undertaking activities to reduce emissions and move towards renewable energy generation. Rooftop Solar panels are installed at all the manufacturing facilities for the generation of green energy. Additionally, electric vehicles and EV forklifts are deployed for inhouse transportation needs. The company is the first one in the wood & panel industry to introduce a range of Zero Emission (E-0) products keeping in mind the health interest of its consumers by reducing formaldehyde emission to negligible or equal to zero, thus safeguarding the indoor air quality.

Rabindra

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