World Environment Day: Dr Reddy's API facility in Srikakulam bags 'Environment Excellence Award'

The honor recognizes Dr Reddy's 20 years of dedication to environmental and social governance (ESG) projects

By Newsmeter Network  Published on  5 Jun 2023 11:59 AM GMT
World Environment Day: Dr Reddys API facility in Srikakulam bags Environment Excellence Award

Vijayawada: Dr. Reddy's API production facility in Srikakulam (CTO-6) received the 'Environment Excellence Award' from the Andhra Pradesh Pollution Control Board (APPCB) for 2023.

For its Active Pharmaceutical Ingredients (API) production plant in Srikakulam, Andhra Pradesh (also known as CTO-6 locally), Dr Reddy's was given the award in honor of its superior environmental and sustainability practices.

On the occasion of World Environment Day, a ceremony was conducted in Vijayawada on Monday. Representatives of the APPCB and Minister for Energy, Environment, Forest, Science & Technology, Mines & Geology of Peddireddy Ramachandra Reddy have presented the award to Dr. Reddy's representatives Dharmesh Panchal, CTO-6 Site Head, KVSN Raju, Lead-Corporate Affairs, and S Sridhar, Lead-Environment and Compliance, Safety Health & Environment.

The honor recognizes Dr. Reddy's 20 years of dedication to environmental and social governance (ESG) projects.

The Financial Times (London) also designated Dr Reddy's as an Asia-Pacific Climate Leader 2023.

As part of the evaluation process, representatives of APPCB visited Dr. Reddy's CTO-6 plant in Srikakulam. They investigated the various sustainability practices employed by Dr. Reddy, including wastewater management, energy conservation, and other environmentally sound practices. The officials also went through Dr. Reddy's innovative "Zero Liquid Discharge" system that was put in place at CTO-6.

Dr Reddy's was among the first in India to implement Environment Social Governance (ESG) practices and voluntary disclosures on sustainability. The business published its first sustainability report in 2004 and has continued to make annual disclosures ever since. It was the first company in its sector to implement a "sustainability by design" strategy in its operations in 2013.

Industry-leading initiatives like zero liquid discharge, zero waste to landfills, and self-managed teams have resulted from the company's efforts over the years in many ESG areas, including waste reduction and management, emissions, investment in people development, and other areas.

Dr Reddy's joined the Science-based Targets initiative (SBTi) for decreasing the carbon footprint in 2020, becoming the first pharmaceutical firm in India and the third in Asia. It has also received recognition from the Dow Jones Sustainability Index, the S&P Corporate Sustainability Assessment, and other organizations. Additionally, it is the first pharmaceutical business from India to be included on the Bloomberg Gender-Equality Index.

The company updated its sustainability and ESG targets for the following ten years last year, putting them at the center of its mission and an important part of its strategy. One of the current environmental targets is to reach 100%.

By 2030, the following goals will be reached:

-100% renewable energy

- Carbon neutral indirect emissions (Scope 1 & 2)

-A 12.5% decrease in indirect carbon emissions (Scope 3)

-Water-positive by 2025.

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