Shree Cement, one of India’s largest and most efficient cement manufacturers, has been awarded the prestigious CARE ESG (Environmental, Social, and Governance) 1 rating. This recognition is a testament to the company’s commitment to environmental and social leadership. The CARE ESG rating is a comprehensive framework that evaluates a company’s performance across various environmental, social, and governance parameters.
The rating takes into account factors such as energy efficiency, water conservation, waste management, and pollution control, among others. Shree Cement’s efforts in reducing its carbon footprint, promoting sustainable practices, and engaging with local communities have been particularly noteworthy. The company has implemented various initiatives to minimize its environmental impact, including the use of alternative fuels, renewable energy sources, and energy-efficient technologies.
Shree Cement’s commitment to social responsibility is also reflected in its various community development programs, which focus on education, healthcare, and livelihood enhancement. The company has established schools, healthcare centers, and vocational training centers in the areas where it operates, with the aim of improving the quality of life for local residents. The company’s governance practices, including its board composition, audit practices, and disclosure norms, have also been recognized as being of high standards.
The CARE ESG 1 rating is the highest rating awarded by CARE Ratings, a leading credit rating agency in India. This recognition is a significant achievement for Shree Cement, as it demonstrates the company’s dedication to sustainability, social responsibility, and good governance. The rating is expected to enhance the company’s reputation and credibility among stakeholders, including investors, customers, and regulatory bodies.
Shree Cement’s Managing Director, Hari Mohan Bangur, stated that the company is committed to sustainability and social responsibility, and that the CARE ESG 1 rating is a validation of its efforts in these areas. The company aims to continue its focus on environmental and social leadership, and to set new benchmarks for sustainability in the cement industry. With this recognition, Shree Cement has reaffirmed its position as a responsible and sustainable business leader in India, and is well-positioned to contribute to the country’s growth and development in a sustainable and environmentally-friendly manner.