Sustainability, Beyond Environment
At Laurus, we firmly believe that sustainability encompasses more than just environmental causes. Given our extensive global presence, it was crucial for us to adopt a holistic perspective of our business and operations through a sustainable Environment, Social, and Governance (ESG) framework.
Our ESG Approach and Initiatives
Laurus Labs prioritizes environmental stewardship as a key driver of its business strategy, with a strong focus on efficient capital allocation and advancing Environmental, Social, and Governance (ESG) practices. The company actively works towards reducing carbon emissions and addressing climate issues, emphasizing the creation of sustainable value and the conservation of natural resources to contribute to a cleaner world. Laurus Labs implements various sustainability technologies, including bio-enzyme catalysis and continuous flow chemistry, while investing in green chemistry platforms. Our commitment to ESG is evident in our consecutive "BBB" rating by MSCI ESG Ratings, improved Dow Jones Sustainability Index (DJSI) score, and recognition such as the EcoVadis 'Silver' award for key facilities.
The company continues to drive ongoing ESG initiatives, including system certifications, the release of an integrated report aligned with the Business Responsibility and Sustainability Reporting (BRSR) framework, investment in renewable energy through acquiring a stake in Ethan Energy, conducting climate risk assessments, and receiving several awards for our environmental, health, and safety practices. Laurus Labs' holistic approach to ESG showcases its dedication to sustainable practices and responsible business operations.
Few Milestones in our ESG Value Creation
Implementing Sustainability Management across key Sites and Invested into Green Chemistry Platforms
Awarded EcoVadis ‘Silver’ Rating (Dec-22) to our key facilities vs. 2020 Bronze medal
Bio-enzyme catalysis and Continuous flow chemistry
Initiated new system certification ISO 50001:2018 across Co BBB” rated by MSCI ESG Ratings –among top 20% of Global Pharma Co based on risk tolerance for two consecutive years
Acquired 26% Stake in Ethan Energy India Pvt. Ltd to boost captive renewable power
Climate risk assessment study completed and adaptable measures being worked out
Dow Jones Sustainability Index (DJSI) 2022 score improved by 30 points to 45/100 vs last year. Laurus performance improved across ESG metrics; Environment: 56% higher vs Industry Mean, Social: 42% higher and Governance: 56% higher
Environment Responsibility
OUR COMMITMENT
We are committed to safeguarding the environment we operate and live in. To transition sustainably towards a greener future, we have assessed climate risks in all our facilities. We focus on setting climate change mitigation targets aligned with the Science Based Targets Initiative (SBTi) framework.
OUR APPROACH
To achieve long-term success, we must create value for Laurus Labs, our shareholders, society and the planet. Our core values and emphasis on sustainability drive us towards a cleaner, healthier world. Sustainability is integrated into our value framework to adapt to the changing business environment, meet industry needs and remain relevant through innovation. Doing business sustainably is integral to our purpose and values. Our sustainability principles are embedded in our strategic objectives and guide our business decisions, considering significant factors
Quality and environment management Systems
At Laurus Labs,all manufacturing facilities comply with the Integrated Management System (IMS) standards. We strictly adhere to the requirements of the Quality Management System (ISO 9001-2015), Environment Management System (ISO 14001-2015) and Occupational Health and Safety Assessment system standards (ISO 45001-2018). Additionally, we have started implementing the Energy Management System (ISO 50001:2018) across all manufacturing facilities. External green audits have been conducted on all manufacturing facilities to ensure compliance.
WASTE MANAGEMENT
Laurus Labs prioritizes sustainable company operations and reducing waste generated at the source. We strive to recycle residual waste and properly handle hazardous waste according to regulatory standards.Our waste management systems and procedures are regularly monitored to ensure proper treatment. Solvent recovery systems are deployed at our API locations to recover used solvents. We conserve resources and reduce waste through efficient operations. We comply with local, national and global standards for safe handling and disposal of emissions and effluents. Some measures we have implemented to reduce processed waste include safe disposal of hazardous waste across all units, returning used batteries to the supplier or recycler and sending e-waste to authorized recyclers.
For more details about our ESG approach, initiatives, performance, please view
Sustainability Report 2022-2023
