Welspun Corp Ltd (WCL), a leading global manufacturer of welded line pipes (HFW, HFIW, HSAW, and LSAW) and the flagship company of the Welspun Group, has released its first sustainability report for the fiscal year 2021-22. The company is working to become a diverse conglomerate through its Business Growth and Diversification Strategy.
The report is important as it allows WCL to extensively report on its sustainability performance across the environment, social, and governance areas. It also showcases the advancements made by WCL towards its sustainability goals, and how they align with international frameworks such as the GRI, UN SDGs, and SASB standards.
WCL’s Sustainability Report for the fiscal year 2021-22 adheres to the GRI standards, and provides Environmental, Social, and Governance (ESG) information to various stakeholders including investors, regulatory authorities and governments, industry groups, and policy makers. The transparency the company shares with all stakeholders promotes accountability and lays out a plan for taking decisive actions towards a carbon-neutral future.
Sustainability is a fundamental aspect of all WCL’s operations, from sourcing raw materials to supply chain management, manufacturing, waste recycling, and more. Sharing a blueprint for a sustainable future is crucial for achieving a more prosperous tomorrow.
The company’s sustainability efforts and outcomes align with the United Nations Sustainable Development Goals (SDGs), which consist of 17 global goals. These SDGs were adopted in 2015 by all UN Member States, including India, as a universal call to action to eliminate poverty, protect the environment, and ensure that all individuals can live in peace and prosperity by 2030.
Vipul Mathur, MD and CEO of Welspun Corp, said in regards to the report, “Sustainability is at the core of our business and guides all decision making. Our first ever sustainability report showcases our manufacturing capabilities and the actions we are taking to fight climate change and play a vital role in the growth of the emerging hydrogen economy. As the world shifts towards alternative energy systems, we are the first Indian company to join the Hydrogen Pipe Joint Industry Project, where we are contributing to the development of guidelines for the transportation of hydrogen gas in existing and new pipelines. Moving forward, we will continue to create sustainable solutions that will lead to a cleaner and greener planet.”
Alok Mishra, Head of Sustainability for Welspun Group, added, “We prioritize sustainability in all aspects of our operations by creating inclusive value to improve our environmental impact. Our focus is on increasing the use of renewable energy for production, which has reduced carbon emissions. WCL’s sustainable business model aims to continuously improve our business drivers, strengthen our position in the pipes and steel sector and provide value to all stakeholders. Additionally, we develop unique, customer-centric solutions that positively change people’s lives and help them face future challenges.”
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