At DCM Shriram, we are committed towards Sustainability and conduct our operations and activities with utmost care for the environment, employees and community responsibly. Traditionally, sustainability has been linked with environment conservation. However, the term has now expanded to include Environment, Social & Governance (ESG), as all three are essential prerequisites for a sustainable business. At DCM Shriram, we aspire to follow best ESG practices which eventually lead to a better bottom line as well as improved social and economic outcomes
We believe that integrating ESG with business strategy will be the way of conducting sustainable business operations. We have also reviewed our decision framework so that ESG requirements are incorporated in our expansions at the planning stage itself. We have built adequate in-house expertise on this subject and seek technical guidance from external experts as and when required. In the area of sustainability, our external reporting is in accordance with GRI (Global Reporting Initiatives) Standards and have an ongoing improvement.
We view the highest standard of Corporate Governance, a value to be institutionalized into the corporate culture. The primary objective is to create and adhere to a corporate culture of transparency, fairness, accountability and ethical practices, thereby creating superior value for all the stakeholders. We are conscious of the fact that we strive for economic growth, we have a responsibility to protect the natural environment and be responsive to society. The Company has processes in place for carrying out due diligence for any new business relations including vendors covering labour law compliances and standards etc as part of human rights aspects besides EHS compliances and Standards.
We have implemented best Environment, Health and Safety practices to ensure safe and environmentally friendly operations. We are committed to make a sustainable difference to the society we serve, and have taken up various initiatives to develop the societies around all our business areas. Engagement with surrounding communities has been undertaken during the year on a continual basis. Some of the examples are building basic infrastructure for multi-stakeholder projects under mid-day meal scheme, making safe drinking water accessible to neighbouring communities, supporting construction of educational facilities etc.
The Company has prepared a vendor evaluation system on sustainability aspects with the objective to sensitize suppliers and vendors on sustainability issues. The system is implemented to get feedback from the vendors and more widespread use to get the value in the supply chain.
Health, safety and well-being of employees are of significant importance to us. Accordingly, through an on-going program we have embarked upon the journey to improve our safety practices and system through capacity building and institutionalizing best practices.
We have made our existing manufacturing facilities safer by providing extensive instrumented safety protection systems through DCS operated system and all efforts are made to incorporate safety features in the basic design of all new projects. We accord the highest priority to hygiene monitoring at the workplace and health examination of all employees at our manufacturing units. Necessary training is regularly imparted to employees to enhance their awareness in EHS related matters.
Care for the Environment is one of our core corporate focuses and, as a part of this commitment, we enunciated our EHS Policy that reiterates our commitment for the creation of a safe and healthy workplace and a clean environment for employees and the community. It aims for the highest standards of EHS in plant design, equipment selection, maintenance and operations. The implementation of the EHS Policy is ensured by line managers through a robust EHS Management System, adequately supported by a well-defined organizational structure. It is the overall responsibility of Strategic Business Unit (SBUs) Heads and Unit Heads to ensure implementation of EHS Policy and corporate standards on EHS including formation of committees and designating individuals for specific responsibilities. We have also reviewed the EHS Policy and included the ESG aspects as part of management commitment.
A Whole Time Director (EHS) at corporate level is responsible for reviewing the
performance of each unit, extending guidance and issuing directions, as necessary, to
all units for EHS compliances and improving the ESG performance on continual basis.
At DCM Shriram Ltd, we have integrated ESG factors into the overall risk management
framework. The Company has also automated compliance tracking through a compliance tool
“Complinity e-Software” that tracks all applicable laws and reports exceptions. The tool covers compliances to labour laws like Prohibition of Child Labour and other human right related aspects. Accountability and responsibility is assigned for applicable aspect at our sites and offices to conduct the human rights assessment and submit the status of the compliances periodically.
We believe that our corporate business philosophy integrates Environment Health and Safety (EHS) initiatives with societal development and wealth creation for all our stakeholders ensures long term sustainability of our enterprise.