Indian manufacturer, Welspun India, has committed to the Science Based Targets initiative (SBTi) of Net-Zero Standard and Business Ambition for 1.5°C to reduce its GHG emissions. SBTi Business Ambition for 1.5°C is an urgent call to action issued by a worldwide coalition of UN agencies, business and industry leaders, and the Race to Zero.
More than 2,000 businesses and financial institutions worldwide are collaborating with the SBTi to cut their emissions in accordance with climate research. As of today, 8 companies from India's textiles, apparel, footwear, and luxury goods sectors are members of the SBTi and working towards a 1.5°C future.
Welspun India has pledged to attain net-zero emissions by defining a target linked with the SBTi Net-Zero Framework as part of the pledge. Furthermore, it intends to create a decarbonization plan to reduce emissions across the value chain operations through initiatives. This would include reducing its greenhouse gas emissions through a periodic review of its GHG inventory, a consistent increase in annual renewable energy sourcing, identifying climate-related business risks, and reporting in accordance with the Taskforce on Climate-Related Financial Disclosures guidelines (TCFD).
Dipali Goenka, Jt. MD & CEO, Welspun India Ltd., said that as a responsible corporate citizen, Welspun India recognizes the risk posed by the climate catastrophe, as well as the negative environmental impact of company operations. Businesses can no longer afford to be passive in the face of climate change. The time to act and secure our future is now.
Goenka added that their commitment to the Net-Zero Standard's Science Based Targets project is a step in that direction. They will continue to monitor, review, and implement policies that allow them to reduce the direct and indirect environmental effects of their activities, with sustainability and climate consciousness as important components of their overarching corporate strategy.
The pledge marks Welspun India’s vision of becoming a global leader in embracing the ESG framework and ensuring that its environmental, social, and governance efforts are structured and formalized. To decrease its carbon footprint and alleviate the effects of climate change, the company has already implemented a number of measures across its value chain operations.
A report that is issued every week covers price statistics and objective analysis of the market trends on various textile value chains
A crisp report that is issued every month covers analysis of the price and market trends on various textile value chains
A weekly report covering market and price information on the entire chain of polyester along with online access to daily polyester chain prices.
One-time reports that are issued annually cover the demand and supply trends in individual products including polyester, nylon, acrylic, viscose, and cotton.
One-time reports that are issued annually cover the demand and supply trends in the individual country's natural and manmade fiber/filament industries.
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