Visaka Industries publishes its first Sustainability Impact Report
Hyderabad, India 5th Aug 2021: Visaka Industries Limited has published its first Business Sustainability Report titled ‘Ability, Responsibility, Sustainability.’ The report has been prepared in accordance with the Global Reporting Initiative (GRI) and is also aligned with the UN Sustainable Development Goals (UNSDGs).
The Sustainability Report identified 12 material aspects or topics that are deemed relevant to its key stakeholders and business. These topics are Corporate and Social Responsibility; Sustainable Business; Operational Efficiency; Compliance to Regulations; Innovation; Agile and Experienced Workforce; Data-backed Decisions; Top Line Growth; Building a Strong Visaka Brand; Distribution Network; Alternative Raw Materials; and Innovative Product Mix.
“In the 40 years of our existence, a commitment towards environment-social-governance has been at the core of our business. Be it from the products that we have developed through the years, or in the way we manage our operations, our work is governed by keeping people and the planet at the centre, while continuing to focus on generating revenues.
Over the last year, while we remained committed towards protecting our balance sheet, we prioritized protecting the health and safety of all our stakeholders. It is this holistic approach that made it possible for us to remain resilient in the face of the economic downturn caused by the pandemic, achieve sustainable long-term growth, and enhance value for stakeholders.”Mr. G. Vamsi Krishna, Joint Managing Director, Visaka Industries Limited
Reduction in energy consumption and CO2 emissions
Energy conservation for Vnext products increased from 37,93,263 units in 2017-18 to 38,83,428 units in 2020-21. This has been possible due to the increase in renewable energy sourcing (37,93,263 units in 2017-18 to 38,83,428 units in 2020-21) and the installation of energy meters and net metering to monitor and further reduce energy consumption.
The total electricity consumption decreased from 2,07,69,930 units in 2017-18 to 1,97,12,435 units in 2020-21, which amounted to a reduction of 10,57,495 Kgs of CO2 emissions.
At Visaka’s Cement roofing sheets division, the energy consumed per unit of production has decreased from 28 units to 27.5 units largely due to the use of energy efficient motors, controlling idle running of equipment using interlocking systems, and LED lights.
Higher material usage efficiency across Vnext division
Vnext Fibre Cement Boards and Cement roofing sheets divisions have reported a reduction in the volume of renewable and non-renewable material used in their production processes over the last two years. Vnext has also reported a healthy increase in the proportion of renewable materials used in production vis-a-vis non-renewable materials.
Visaka increased its material usage efficiency by increasing the use of fly ash in its production of Vnext fibre cement boards. Visaka Industries has reduced approximately 0.8Kg of CO2 production for every Kg of cement replaced with fly ash. Vnext fibre cement boards have saved around 90,000 tons of CO2 emissions till now.
ATUM: 7.66 tons of CO2 emissions offset per solar panel
In the space of renewable energy, more notably solar energy, Visaka Industries contributed to the renewable energy share of India with its ATUM solar roof, the world’s first integrated solar roof. ATUM can offset an average of 7.66 tons of carbon emissions per panel sold in its entire lifetime (considering the life of solar panels to be 15 years) by replacing coal-based power generation. The ATUM solar roof has offset around 86,400 tons of CO2 emissions and has saved 48,000 trees from the time it was launched in 2018.
Wonder Yarn: Recycling PET fibre save 17400 megalitres of water
Visaka Industries Limited’s Wonder Yarn is made from recycling PET bottles which otherwise would have found their way into landfills and waste dumps. By using Recycled PET fibre for Wonder Yarn, Visaka Industries has reduced the stress on cotton production and has indirectly saved approximately 10 litres of water for every gram of rPET used. As of now Visaka’s Wonder Yarn has recycled 141 million PET bottles, i.e., nearly 17400 megalitres of water saved from the use for cotton irrigation.
Conservation and Replenishment of ground water
For a manufacturing company, water – its consumption and conservation – remains a primary concern. The total water consumption by Visaka Industries Limited has steadily decreased, which indicates an increase in its water usage efficiency. The company regularly conducts environmental impact assessments and water footprint assessments of its operations at its manufacturing facilities. It ensures that no activity is conducted in water stressed areas. The quantity of groundwater withdrawn by Visaka has reduced from 453.87 megalitres in 2019-20 to 429.20 megalitres in 2020-21.
There is zero discharge of water from Visaka’s plants and offices. Water harvesting methods are used to secure the supply of water during times of scarcity. This is further aided by an emphasis on minimizing water wastage across the entire value chain. On average, 65 kilolitres of water are discharged per annum from plants and offices. The entire volume of discharged water is recycled and recharged using harvesting technologies.
Integration of supply chain to achieve sustainability objectives
Visaka Industries Limited is also reducing its upstream supply chain transport related carbon emissions by identifying all the raw materials and ports strategically and within 300 kms to its manufacturing locations. By doing so, Visaka Industries is progressively eliminating approximately 200g of CO2 emissions for every kilometer of transportation saved.
Visaka’s Vnext Fibre Cement Boards division plans to engage with its suppliers to reduce their water-related impact and train them in improving their water management practices. The company has set its water conservation target as 20% less than the consent received.
The Sustainability Report has been assured by Sustain Labs Paris, an enterprise based in India, France, and New Zealand that partners with organizations to make them more environmentally and socially responsible as well as profitable.
Dr. Miniya Chatterji, Chief Executive Officer, Sustain Labs Paris said, “Visaka’s commitment to sustainability has been centered around the interplay of people, product, process, profit and planet. Following a structured, scientific, and data-backed approach, the company has created targets and benchmarks to continuously improve its performance on parameters such as resource consumption, greenhouse gas emissions and waste management, in addition to enhancing employee, community and product safety. In FY 2020-21, the company reported steady improvements across categories like material usage efficiency, natural resource optimization, waste management, while facilitating personal and professional development of its employees.”
Visaka Industries Sustainability Impact Report
About Visaka Industries Ltd.
Established in 1981, Visaka Industries (NSE: VISAKAIND, BSE: VISAKAIND) has emerged as a sustainable business enterprise over the years and has become the second-largest roofing manufacturer in the country with close to 5000 direct and indirect employees. In 2018, the company introduced ATUM, world’s first Integrated Solar roof.
The Story – Visaka Industries publishes its first Sustainability Impact Report is as per Press Release submitted by the company.