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/

2

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

3

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/

4

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.