At Pricol, every decision is made keeping in mind the wellbeing of our people, our communities and our planet. Through our environmental and social commitments and governance processes, we strive to create a positive impact in every action that we undertake.
We are an organization who acknowledges our responsibility in advocating the value creation on ESG goals and do proactively take actions to constantly evolve and bring about a change. Environment, Education and Healthcare are the broad areas of focus and below are some of the highlights:
Our efforts are mainly directed toward fostering societal development that is sustainable and a cleaner, greener environment for everyone. To assist in achieving these objectives, Pricol established the “We Care” programme, which carries out different social and environmental development initiatives in and around its operational locations.
Through Pricol’s longstanding dedication to societal service, we engage with local groups and associations to implement targeted programmes that emphasize sustainable livelihoods, Skill Development Trainings and employee initiatives. As a result, we work to become industry leaders by conducting business in a way that is both socially and environmentally responsible and that considers the needs of all of our stakeholders.
Through our CSR initiatives, we will constantly strive to increase the value it offers to society and the environment. Pricol will directly or indirectly implement efforts in and around its operational locations in accordance with the set principles.
One such core area of focus is renewable energy. At present, 70% of the energy comes from various methods, such as rooftop solar and green energy purchase agreements, and the roadmap is very clear to attain 100%. We obtain renewable energy to improve sustainability and lower carbon emissions. Energy is essential for development, and sustainable energy is crucial for sustainable development, according to our philosophy.
The goal is to achieve 100% renewable energy by 2026. Roof-top solar panel installations contribute 13% of power, and 57% is from green energy purchase agreements. At the end of FY24, the renewable energy mix was 62% of total energy consumption.
As an energy-saving initiative, natural light is being used wherever possible, and energy-efficient equipment has been installed, including LED lighting, high-volume low-speed (HVLS) fans, brushless DC motor fans in office areas, and timer control in electrical equipment across all operating locations.
More than 6,000 trees are planted and taken care of at all plant locations. These trees can absorb up to 100 tons of carbon dioxide (CO2) and release up to 630 tons of oxygen (O2) every year, creating a positive effect on the atmosphere. Additionally, a significant number of saplings are given to various institutions and social communities to promote the green initiative.
Factory noise levels, both indoors and outdoors, are regularly measured, and actions are implemented to guarantee that they remain within government-mandated limits. Further to promoting noise-free workplaces, diesel generators are placed in separately available acoustic-enclosed rooms. Every new machine that is bought complies with government regulations.
Pricol is actively seeking to reduce greenhouse gas emissions by exploring alternative fuels for boilers and non-ODS refrigerant gases for air conditioners. The company is also working on transitioning all internal material movement vehicles to electric vehicles.
Pricol actively advocates and implements water management strategies on a significant scale. All rainwater is harvested and replenished into the ground, with a portion being repurposed to reduce freshwater consumption. The total installed capacity of the rainwater storage tank is 3200 KL. Additionally, treated wastewater is recycled on-site for gardening and domestic purposes.
Pricol is striving to reach Zero waste to landfill by 2026, with all Hazardous waste being recycled solely through authorized recyclers
To Reduce waste Generation various initiatives are taken as listed below
The company launched “We Care,” a programme that helps us carry out various social and environmental development initiatives in and around our operational locations, as a first step towards assisting with the environment’s sustainable development. Most recently we donated INR 1 crore to the Chief Minister’s Relief Fund as part of the COVID-19 management initiatives in the district, part of which was actively contributed by the employees of Pricol.
In line with the company’s vision, Pricol will strive to enhance value to the society and the environment through the CSR initiatives and proactively undertaking such community development activities.
Miyawaki technique is to create dense forests with native plants. This unique method is used worldwide for urban afforestation by growing forest in compact spaces. Seeds are planted remarkably close to save space resulting in dense plant growth. Also, this will also allow young trees to protect each other and block sunlight from hitting the forest’s ground, preventing parasitic plant growth. This process helps attaining plant growth 10 times faster, and 30 times denser than usual.
We have initiated three Miyawaki concepts in our Coimbatore plant.
Corporate governance is a very crucial part in achieving excellence in our overall communication strategy and corporate excellence. We uphold utmost transparency, integrity and accuracy for our key stakeholders in order to maintain and solidify investor relations which has led to our strong performance over the last few years.
Pricol’s Philosophy on Corporate Governance envisages striving for excellence in all facets of its operations through socially and environmentally acceptable means. Pricol aims to be a responsible corporate citizen and share the benefits with society which further makes our customers, employees, suppliers and shareholders feel proud of their association with us through highest level of fairness and transparency in the dealings. (Ref: Annual report– page 57)
Our resolve to create a sustainable future for our stakeholders, embodies our philosophy of generating value beyond business and maintaining sustainable development at the centre of business.
