Governance Leading to Success
Good governance forms the bedrock of any organization. At Welspun Group, we have adopted multiple policies and mechanisms that include the Anti-Bribery and Anti-Corruption Policy (ABAC), Code of Ethics, and a Whistleblower mechanism (monitored by a third party). This practice will ensure a culture of transparency, accountability, ethical conduct, safety, responsibility, and regulatory compliance throughout the organization.
We have also redefined the governance of Environment & Social (E&S) aspects across organizational levels, ensuring effective delegation of accountability for efficient monitoring of action and associated outcomes. Policies like Board Diversity, ESG, Nomination, Remuneration, etc., have resulted in improved management and governance. There is also an increased expectation from stakeholders on ESG performance reporting. We have implemented a new IT tool for ESG data monitoring and reporting called the ESG Compass to successfully meet this expectation.
ESG Compass will enable ESG performance data collection across the Welspun Group plants and entities. It is touted to provide a secure way of collecting and collating data across 30+ ESG KPIs in the domains of E, S, and G, including KPIs like GHG emissions (Scope 1, 2 & 3), Electricity consumption, Fuel consumption, Waste Generation, Environmental emissions, Diversity ratios, Governance parameters, among others.
The tool shall simplify reporting to internal and external stakeholders on our overall ESG performance, and provide a clear dashboard for tracking GHG emissions on Scope 1, Scope 2 & Scope 3 emissions.
Overall, Welspun is committed to achieving and adhering to the highest standards of corporate governance, and we constantly benchmark ourselves with best practices in India and worldwide.Click to read our Governance Factsheet