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 the renewable energy. We currently purchase 17% of our energy through various methods, such as rooftop solar, and have a clear roadmap to attain 70% by March 2023. We obtain renewable energy in order to improve sustainability and lower carbon emissions. Energy is essential for development, and sustainable energy is crucial for sustainable development, according to our philosophy.
Our goal is to achieve 100% on renewable energy by 2025. Currently we generate up to 33.14 lakh units per year from our roof top solar panels and by end of FY 2023, we will be at 70% of renewable energy across all our plants combined.
As an energy saving initiative, we use Natural Light wherever possible. We have installed energy efficient equipment – LED lighting, High volume low speed (HVLS) fans, Brush Less DC motor fans in office areas and Timer Control in Electrical Equipment across all operating locations.
We have planted more than 6000 trees in all our plant locations combined. They absorb up to 100 Ton of carbon dioxide (CO2) and emit up to 630 Ton Oxygen (O2) per annum, having a net positive impact to the atmosphere. In addition, we have donated huge amount of saplings to various institutions and social communities to advocate the green mission.
Indoor and outdoor factory noise level is continuously monitored, and actions are taken to ensure it is within Government regulated norms. Further to promoting noise-free workplaces, Diesel Generators are placed in separately available acoustic-enclosed rooms. Even new machines are purchased which conform to Government’s norms.
To reduce the carbon dioxide (CO2) Emission through burning of fossil fuels, Pricol is working towards alternate fuel for Boiler and Natural referent gas for air Conditioners. Also we are in the process of moving to E- Vehicles for all internal material Movements.
As Pricol, we promote and practice Water Management concept in a large way. 100% of rainwater is collected and refilled into the ground and we reuse it to reduce fresh water usage to the maximum extent possible. Our Cumulative rainwater storage capacity is up to 2500 KL. Also, waste waters are treated and reused for certain processes.
Zero waste to landfill concepts are implemented in our plant. All the Hazardous waste generated is now being recycled only through authorized recycler.
To Reduce the 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.