Welspun Living Inititavies in Envoirment Social & Governance

S&P Global CSA Rankings Recognize Welspun Living's ESG Growth


What is S&P Global and what do these rankings mean?

Sustainability and the well-being of the environment have been at the heart of Welspun Living’s manufacturing process ever since its inception. As the world moves towards greener pastures, the textile industry has continued to grow in alignment with the world’s sustainability goals. In the Indian market, Welspun Living has been among the companies spearheading the charge and embracing a green revolution with its groundbreaking innovations and proactive approach to ESG initiatives. This has manifested in the form of global recognition for the company’s initiatives. The latest of this recognition comes from the S&P Global Corporate Sustainability Assessment (CSA) rankings for 2023. Welspun Living has achieved the highest ESG rating in the Textile, Apparels & Luxury Goods category among Indian companies.

This achievement stands as a testament to Welspun Living’s ongoing commitment to responsible practices across the entire textile value chain.

What is S&P Global and what do these rankings mean?

S&P Global is an organization that guides and assesses companies based on their sustainability goals and aligns them with global initiatives to curb climate change. Their CSA rankings are a prestigious sustainability evaluation that assesses companies worldwide. It analyzes companies over various environmental, social, and governance (ESG) criteria, considering factors financially material to the industry. This rigorous assessment helps investors and stakeholders understand a company's commitment to sustainability.

Welspun Living’s score reflects the company’s groundbreaking efforts

In 2023, Welspun Living witnessed a significant improvement in terms of ESG growth, increasing from 59% in 2022 to 66%. This improvement is evident across the three key pillars:

  • Governance (70): This score reflects the company’s commitment to transparent leadership, ethical practices, and strong risk management.
  • Environment (64): This score highlights the company’s efforts in reducing its environmental footprint, including water and energy conservation, responsible waste management, and increased reliance on renewable energy sources.
  • Social (61): This score reflects the company’s dedication to the well-being of its employees, fostering a safe and inclusive work environment, and upholding ethical labor practices.

Welspun Living is the top-ranked Indian textile company

By achieving the highest ESG rating among Indian textile companies, Welspun Living has positioned itself within the top 3 percentile of textile, apparel & luxury goods companies globally. The experts at S&P Global have recognized Welspun Living’s growth and commitment to ESG development and sustainable practices. Welspun Living aims to lead by example and launch further initiatives that contribute to a healthier, happier future.

Ambitious goals for the future

Welspun Living has ambitious goals of achieving carbon and water neutrality by 2030. The company is actively monitoring its carbon footprint and working towards taking steps in the right direction. Enabling a brighter future for all is a common cause for every Welspun Corp stakeholder. They are constantly innovating and collaborating to ensure their business practices align with their values and make a positive contribution to the world.

What Welspun Living’s leaders had to say on the ranking

Expressing her delight, Dipali Goenka, CEO & MD of Welspun Living Limited, said, "ESG is at the core of everything we do at Welspun Living. The substantial improvement in S&P Global ESG score is a testament to our efforts. We take great pride in our enhanced sustainability performance across the entire textile value chain."

Determined by the recognition, Sanjay Gupta, CFO of Welspun Living Ltd, added, "Our improved scores showcase our comprehensive approach to sustainability. We remain unwavering in our pursuit of excellence, meeting the expectations and aspirations of all our stakeholders."

Welspun Living is among India’s pioneering companies in sustainable textile and places ESG policies at the center of all its operations and processes. The company stands out as an example of encouraging positive change in the Indian textile industry and represents its best interests on the global stage.