GlobalData offers a comprehensive analysis of Welspun, providing key insights into its Environmental, Social, and Governance(ESG) factors. By closely monitoring and aggregating mentions of climate change and associated ESG keywords, GlobalData delivers valuable information on Welspun’s ESG performance. GlobalData’s company profile on Welspun offers a 360-degree view of the company, SWOT analysis, key financials, and business strategy including insights on ESG implementation among other information. Buy the report here.
Smarter leaders trust GlobalData
Welspun, a leading steel pipe manufacturer and a socially responsible enterprise, has a well-established history of embracing sustainable practices. With a commitment to environmental stewardship, the company has set ambitious goals, aiming to increase its reliance on renewable energy to 20% by 2030 and achieve carbon neutrality by 2040. In line with its transition roadmap, Welspun Corporation prioritizes the identification and mitigation of environmental and social risks across its operations and value chain.
For the current financial year, 2022-2023, Wellspun disclosed its emission data, reporting a total of 2,545 tCO2e for Scope 1 emissions and 2,57,839 tCO2e for Scope 2 emissions. The emissions intensity for both Scope 1 and Scope 2, measured per rupee of turnover, amounted to 37.32 tCO2e per crore rupees. It is important to note that the inclusion of sponge iron and billet division operations has contributed to the increase in intensity. Additionally, the company reported a total of 12,02,951 tCO2e for Scope 3 emissions, encompassing three out of the twelve applicable categories. The disclosed categories include downstream transportation & distribution, upstream transportation & distribution, and purchase of goods & services, while the calculation for the remaining categories is underway and will be reported in the upcoming fiscal year.
Welspun has taken several steps to reduce its emissions and achieve its carbon neutrality targets. The company has invested in renewable energy sources, such as a planned solar park of 300KW at its Anjar facility. It has also implemented initiatives to improve resource efficiency and reduce the impact of emissions, effluent discharge, and waste generation. For example, the company has installed a Sewage Treatment Plant (STP) of 30 MLD to recycle wastewater and reuse it within the manufacturing process.
In conclusion, Welspun is committed to reducing its GHG emissions and has set carbon neutrality targets. The company has implemented various initiatives and investments to achieve its emission reduction goals. Welspun's efforts to improve energy efficiency, resource efficiency, and reduce environmental impact demonstrate its commitment to sustainability.
Data Insights
From
The gold standard of business intelligence.
Blending expert knowledge with cutting-edge technology, GlobalData’s unrivalled proprietary data will enable you to decode what’s happening in your market. You can make better informed decisions and gain a future-proof advantage over your competitors.
GlobalData, the leading provider of industry intelligence, provided the underlying data, research, and analysis used to produce this article.
GlobalData’s Company Filings Analytics uses machine learning to uncover key insights and track sentiment across millions of regulatory filings and other corporate disclosures for thousands of companies representing the world’s largest industries. This analysis is combined with crucial details on strategic and investment priorities, innovation strategies, and CXO insights to provide comprehensive company profiles.
