JB Pharma Outlines Key ESG Goals & Targets in its Third Sustainability Report FY24

2024-11-21 07:38:33 Environment

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Mumbai, 21 October 2024: J. B. Chemicals & Pharmaceuticals Ltd (JB Pharma), one of the fastest growing pharma companies in India, has today announced its ESG commitments with the launch of its 3rd Sustainability (ESG) Report. This marks a significant step forward in the company’s ongoing dedication to sustainability, aimed at driving environmental and social progress.

JB Pharma’s third sustainability report highlights the company’s achievements in reducing its environmental impact and improving resource efficiency. The company has successfully reduced emissions (Scope 1 & Scope 2) intensity per rupee of turnover by 22.2%, while total Scope 1 & Scope 2 absolute emissions decreased by 13.9%. Renewable energy played a key role for JB Pharma with JB generating 46341 GJ of energy from renewable sources of energy, which is 12.1% of total energy demand. Additionally, it has avoided 9,216.7 tCO2e emissions through renewable sources, reducing its total energy consumption by 5.7% and lowering its energy intensity per rupee of turnover by 14.8%. Water consumption intensity per rupee of turnover also dropped by 4.8%. Waste sent to landfill decreased to 12.2%, down from 17.18% in the previous year. All manufacturing facilities have achieved Zero Liquid Discharge (ZLD), further emphasizing the company’s environmental stewardship.

Nikhil Chopra, CEO & Whole Time Director, JB Pharma, at the launch of the report said, “Guided by the theme ‘Building a Sustainable Future for Good Health,’ happy to announce
the release of JB Pharma’s 3rd Sustainability Report FY24. We recognize the vital connection between sustainability and public health. This report showcases our ongoing journey towards sustainability, highlighting our innovative strategies and dedication to fostering a healthier and more resilient world. As part of our steadfast commitment to environmental stewardship and social well-being, we are thrilled to have undertaken its inaugural ESG Goals and Targets, reinforcing our
commitment to sustainable growth. These targets not only prioritize the most impactful ESG KPIs for our business and stakeholders but also guides our strategies towards long-term value creation”.

Keeping employee growth and wellness at the core, JB Pharma has developed an extensive DE&I (Diversity, Equity & Inclusion) framework that ensures a fair and equitable environment
for all, driving innovation and organizational success. By setting ambitious targets and implementing sustainable practices, the company aims to strengthen its leadership in the
pharmaceutical industry, driving progress towards a healthier, more resilient, and sustainable future for all.

Key ESG Goals and Targets Set by JB Pharma:
 Meet 40% of power demand from renewable energy by FY 2026-27 and 100% by FY 2032-33.
 Become carbon neutral in direct operations (Scope 1 and 2 emissions) by FY 2032-33.
 Achieve Zero Waste to Landfill by FY 2032-33.
 Achieve water positivity by FY 2032-33
 Enhance women representation in workforce (permanent) to 15% by FY26-27 and across cadres to 25% by FY 2032-33
 Ensure 25 average learning hours per employee by FY 2026-27.
 Meet the highest standards on compliance and ethics, backed by robust corporate governance.
 Continuously produce quality and affordable products for patients globally.

The report has been audited by Det Norske Veritas (DNV), a leading global classification society headquartered in Norway. DNV has provided limited level assurance on the Sustainability Report 2024. The assurance complies with the International Standard on Assurance Engagements (ISAE) 3000, and the International Standard on Assurance Engagements 3410 – ‘Assurance Engagements on Greenhouse Gas Statements’ (ISAE 3410).

About JB Pharma:

JB Pharma (BSE: 506943 | NSE: JBCHEPHARM | ISIN: INE572A01028), established in 1976, is one of the fastest
growing pharmaceutical companies in India and a leading player in the hypertension segment. Besides its strong India presence, which accounts for majority of its revenue, its other three home markets are Russia, South Africa and UAE. In India, the company has 6 brands among the top 300 IPM brands in the country. The company exports its finished formulations to over 40 countries including the USA. Besides supplying branded generic formulations to several countries, it is also a leader in the manufacturing of lozenges and ranks amongst the top 5 manufacturers globally in medicated and herbal lozenges. It has 8 state-of-the-art manufacturing facilities in
India including a dedicated manufacturing facility for lozenges. The manufacturing facilities are approved by 27 leading international regulatory authorities.