Driving Business Transformation
To Accelerate Sustainability
SUSTAINABILITY REPORT 2022-23
NEULAND LABORATORIES LIMITED
SUSTAINABILITY REPORT 2022-23
Index
Main Section | Sub Section | Page No |
About This Report | About this Report | 5 |
Reporting Framework and Guidelines | 5 | |
Boundary and Scope | 5 | |
Corrections and Re-statements | 5 | |
Assurance | 5 | |
Your Feedbacks | 5 | |
Forward Looking Statement | 5 | |
Executive Chairman Message | Executive Chairman Message | 6 |
Vice Chairman & CEO Message | Vice Chairman & CEO Message | 8 |
Our Business | Our Business | 10 |
Our Presence | 11 | |
Regulatory filings across Geographies | 12 | |
Inspection History | 13 | |
Our Manufacturing Locations | 14 | |
Research & Development | 14 | |
The Business Direction | 15 | |
Governance, Risk Management and Compliance | Governance, Risk Management and Compliance | 16 |
Proactive Risk Management Approach | 16 | |
Key Risks Addressed and Mitigation Strategies | 17 | |
ERM Process Implementation | 17 | |
Digitization of ERM | 17 | |
Risk and Sustainability Governance | 17 | |
Compliance | 18 | |
Cyber Security | 19 | |
Sustainability Framework at Neuland | 20 | |
to be inline with UNGC | ||
Climate Change and Task Force for Climate related | 21 | |
Financial Disclosures | ||
Climate Change Risks | 23 | |
Materiality Assessment | Stakeholder Engagement | 24 |
Materiality Assessment | 26 | |
Material Topics | 27 | |
Upholding Human Rights & Ethics | Upholding Human Rights & Ethics | 29 |
Social Accountability Certification (SA-8000:2014) Gap | 30 | |
Assessment | ||
Code of Conduct and Whistleblower Mechanism | 30 | |
Employee Support Program | 31 | |
To get this report online and for any other information, log on to https://www.neulandlabs.com/about/sustainability-report/
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INDEX
Index
Main Section | Sub Section | Page No |
Sustainable Supply Chain | Sustainable Supply Chain | 32 |
Supplier Sustainability Assessment Matrix | 32 | |
Supplier Code of Conduct | 33 | |
Self-Preparation for Effective Engagement with Suppliers | 33 | |
on Sustainability | ||
Geographical Dependency De-Risking and Shortening | 33 | |
Supply Chain | ||
Diverse and Inclusive Supply Chain | 34 | |
Responsible Sourcing: Upholding Ethical and Sustainable | 34 | |
Practices | ||
Economic Value Creation | Economic Value Creation | 35 |
Digitization | 36 | |
Customer Centricity | Customer Centricity | 37 |
Building Competency | 37 | |
Quality Assurance and Control | 38 | |
Labelling of Products | 38 | |
Data Privacy and Security | 38 | |
Quality Priorities | 38 | |
Customer Health & Safety | 38 | |
Continuous Improvement and Customer Surveys | 38 | |
Environmental Stewardship | Environment Stewardship | 39 |
Our Goals during the year and achievements | 39 | |
Environment Budget | 39 | |
Operational Eco-efficiency | 40 | |
Energy | 41 | |
GHG emission profile | 41 | |
Water and Wastewater management | 42 | |
Improving the Efficiency of Effluent and Water Reuse/ | 43 | |
Recycle | ||
Biodiversity | 43 | |
Waste Management | 44 | |
Reducing the environmental impact of materials | 45 | |
Implementation of Green Chemistry Principles | 45 | |
Emissions | 46 | |
Methodology for emission calculations | 46 | |
Internal Audit | 47 | |
Compliance | 47 | |
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NEULAND LABORATORIES LIMITED
SUSTAINABILITY REPORT 2022-23
Index
Main Section | Sub Section | Page No |
Employee Nurturing | Employee Nurturing | 48 |
Employment | 48 | |
Talent Management | 50 | |
Gender Diversity | 51 | |
Employee Support Program | 53 | |
Training and Education | 55 | |
Skill upgradation Program | 55 | |
Leadership Competency Framework | 55 | |
Occupational Health and Employee Well-being | 57 | |
Occupational Health and Safety Processes | 57 | |
Incidents Managements | 58 | |
Safety Initiatives in Unit-1 | 59 | |
Safety Initiatives in Unit-2 | 59 | |
Safety Initiatives in Unit-3 | 60 | |
Occupational Health | 61 | |
Training summary on OHS | 61 | |
Community Engagement | Community Engagement | 63 |
Education | 64 | |
Health and Well-being | 64 | |
Women Empowerment | 64 | |
Rural Development | 64 | |
Biodiversity and Environment | 64 | |
Assurance Statement | 66 | |
GRI Index | 69 | |
To get this report online and for any other information, log on to https://www.neulandlabs.com/about/sustainability-report/
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ABOUT THIS REPORT
About This Report
Neuland Laboratories Limited (Neuland) takes pride in presenting its Sustainability Report for the financial year 2022-23, marking the fourth consecutive year of transparently charting our progress and actions towards sustainability. Our journey began with the publication of our inaugural sustainability report in FY19-20, and since then, we have consistently released comprehensive sustainability reports annually.
Neuland had published its first sustainability report for FY 2020 on 12th June 2021 while that for FY 2021 was published on 30th July 2021, our third sustainability report for FY 2022 was published on 28th July 2022 and our current report is our fourth sustainability report published on ….
At Neuland, we remain steadfast in our commitment to enhancing performance across economic, social, governance, and environmental aspects. This report, covering the period from April 1, 2022, to March 31, 2023, reflects our dedication to sustainability and follows our reporting cycle, aligned with each fiscal year from April 1 to March 31.
For key material topics, we ensure the disclosure of at least three years of data, demonstrating our adherence to transparency and accountability. As part of our ongoing commitment, Neuland will continue to report on our sustainability progress annually through these sustainability reports, showcasing our unwavering dedication to sustainable practices and responsible corporate citizenship.
Reporting Framework and
Guidelines
We have been diligently reporting on our sustainability initiatives, with our initial focus on community engagement and environmental stewardship. To maintain transparency and credibility, we adhere to external standards, including the Global Reporting initiative (GRI) and Greenhouse Gas Protocol (GHGP). This
report is also aligned Neuland's UNGC commitment. Our approach to reporting follows the GRI principles of Stakeholder Inclusiveness, Sustainability Context, Materiality, and Completeness. These frameworks ensure that our reporting accurately reflects our commitment to sustainability and enables stakeholders to gain valuable insights into our sustainable practices and progress.
Boundary and Scope
The sustainability performance disclosures in this report cover Neuland three manufacturing facilities in India, R&D Facility and the Corporate office in Hyderabad, India. This report has the information regarding the evolution of our manufacturing, R&D units, economic performance and management processes which are responsible for the progress of the company. The scope of this report is defined by the material topics identified through stakeholder engagement.
The materiality assessment presents the priority topics for Neuland. This has helped Neuland to acknowledge the challenges faced, sustainability expectations and take an appropriate and systematic approach to mitigate them.
Corrections and Re-statements
The boundary of the report has not changed between last year and this year. Data corrections have been made for the previous years in the Environmental Stewardship section. However, due to the materiality assessment, we have added some new material topics and disclosures in this year's report.
Assurance
We have established processes and procedures to capture data on sustainability. The data has undergone rigorous internal reviews before being presented in the report and to the verifiers. The report has been externally verified by TUV India Private Limited who does not have any financial interest in the operations of the company other than the assurance of this report. The assurance statement issued has been included in the report. Any financial information presented in this report is externally audited by TUV India Private Limited, the financial auditors of the company.
Your Feedback
We value suggestions and feedback from our stakeholders. Request you to share it by writing to us at: sustainability@neulandlabs.com
Forward-looking Statements
Certain statements in the Report are forward -looking. These include statements other than historical facts, including those on financial position, business strategy, management plans and objectives for future operations. Such statements include words such as 'believes', 'expects', 'may', 'will', 'plans', 'outlook' etc. regarding future operational/ financial performance. These are based on reasonable assumptions/ data/ that may be incorrect/imprecise and, not intended to be a guarantee of future. Actual results could differ materially due to various factors.
We neither assume any obligation nor intend to update/revise any forward-looking statements, as a result of new information/ future events or otherwise.
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Disclaimer
Neuland Laboratories Ltd. published this content on 26 September 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 26 September 2023 06:02:04 UTC.