G.L.

Bajaj Institute of Management & Research

Approved by A.I.C.T.E., Ministry of HRD, Govt. of India
Plot No. 2, Knowledge Park-III, Greater Noida

PGDM BATCH-2022-24

MINOR PROJECT REPORT ON

Submitted in Partial Fulfillment for the Award of the

DEGREE OF POST GRADUATE DIPLOMA IN

MANAGEMENT

2022-24

GUIDE BY: SUBMITTED BY:

Dr. Amit Kumar Gaurav Yadav
(Associate Professor) (PGDM22382)

1
 G.L. Bajaj Institute of Management & Research
Approved by A.I.C.T.E., Ministry of HRD, Govt. of India
Plot No. 2, Knowledge Park-III, Greater Noida

PGDM BATCH-2022-24

FACULTY GUIDE CERTIFICATE

ACKNOWLEDGEMENT

This is to certify that the work reported in the Minor Project Report on “Marico Limited”,
submitted by Gaurav Yadav at G L Bajaj Institute of Management & Research, Greater
NOIDA, India, is a bonafide record of her/ his work carried out under my supervision. This work
has not been submitted elsewhere for any other degree or diploma.

Dr. Amit Kumar

Associate Professor

(Signature of Faculty Guide)

Date:

2
 G.L. Bajaj Institute of Management & Research
Approved by A.I.C.T.E., Ministry of HRD, Govt. of India
Plot No. 2, Knowledge Park-III, Greater Noida

PGDM BATCH-2022-24

I would like to thank the following people; without whom I would not have been able to
complete this Minor Project Report.

My heartfelt thanks goes to our Director, Dr. Sapna Rakesh for providing an opportunity work
on the Minor project right from the first trimester of the program.

I convey my sincere thanks to my Faculty Guide Dr. Amit Kumar, Associate Professor for
providing me the constant support and guidance to carry out my project effectively and
efficiently.

I would also like to convey my gratitude to all faculty members and staff for their support and
guidance.

GAURAV YADAV
PGDM22382
Trimester-I
PGDM Batch 2022-24
GL Bajaj Institute of Management & Research

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TABLE OF CONTENTS1

SR. NO. CONTENT PAGE NO.

1 Introduction to Sustainable Development Goals 7-16

About the Sustainable Development Goals

1.1 8-9
SDG Targets., SDG targets for Companies
1.1.1 10-11

1.2 History of these SDGs, Implementation Progress 11

2 ESG Framework in India 17-37

Significance of ‘E’, ‘S’ and ‘G’ in Business

2.1 18
Components of Business Responsibility and
2.2 Sustainability Report(BRSR), 19-28

2.4 BRSR requirements, essential BRSR disclosures 29-30

2.5 ESG policy and culture of your company 31-33

Insights about the company’s and industry’s SDG
2.6 and ESG practices 34-37

Mapping of Company Business Practices with

3 SDG/ESG 38-41

4 Sources of data collection 42-47

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 Presentation of the insights about the company data

Major initiatives in last one year of the company

6 Present facts & figures in narrative form 49

References
7 50

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EXCUTIVE SUMMARY

1. Introducti on to Sustainabl e Devel opment Goals

In this chapter, you ca n provide a n ove rview of the SDGs and their importance for
companies. You can explai n t he 17 SDG targets and how they relate to busi ne ss practices.
You c an also di scus s the hi story of the SDGs and thei r i mplementa tion progress so fa r.
2. E SG Framework in Indi a
In thi s chapter, you can discuss the si gnifica nce of ESG in bus iness and how it relates t o
responsible and s ustainable practices. You can a lso di scuss the com ponents of a business
responsibilit y and sustainabil ity report (BR SR) and the re quirement s and es se ntial
disclosure s for s uch a report. You can also provi de ins ight s on Marico Ltd's ESG polic y
and culture.
3. Mapping of M arico Ltd B usiness Pr ac tices with SDG/ESG
In t his chapter, you ca n a nalyze Ma rico Ltd's business practices and ma p t hem to the
rele vant SDGs and ESG crite ria. You can present the insi ghts you have gathered on the
company's and industry's SDG a nd ESG practices.
4. Presentation of Insights about M arico L td
In this chapter, you can present t he insight s you have gathered on Marico Ltd's SDG and
ESG practices in a narrative form. You can include fac ts and fi gures to support your
f indings.
5. Major Initi atives in the Last O ne Year of Marico Ltd
In this chapter, you can hi ghlight the major initiatives taken by Marico Ltd in the past yea r
to advanc e its SDG and ESG pract ices. You can provide details on the im pac t of these
initiatives and any challe nges faced.

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CHAPTER 1- INTRODUCTION TO SUSTAINABLE DEVELOPMENT
GOALS

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1.1 About the Sustainable Development Goals

The Sustainable Development Goals (SDGs) are a set of 17 global goals adopted in 2015 by the 193 member
states of the United Nations. Building on the success of the Millennium Development Goals (MDGs) set in
2000, we aim to tackle the world's most pressing challenges including poverty, health, education, climate
change, gender equality, water, sanitation and energy. . The SDGs cover a wide range of issues and represent
an unprecedented global effort to address the world's most pressing challenges.

The SDGs call on all countries, large and small, to take swift, coordinated global action to end poverty, reduce
inequality and protect the planet. The SDGs aim to enable all people everywhere to enjoy peace and prosperity
now and in the future. These are a set of global goals aimed at creating a better world for all, everywhere, and
are closely aligned with the 2030 Agenda for Sustainable Development adopted by the United Nations in
September 2015. Related to

The SDGs are based on the principles of universality, justice and sustainability. They are universal in the sense
that they apply to all countries regardless of income level and are intended to ensure that no one is left behind.
They are also justified in that they aim to reduce inequalities within and between countries, and aim to enable
future generations to live in a world free of poverty, hunger and environmental destruction. sustainable in that
respect.

The SDGs are structured around his five core areas: People, Planet, Prosperity, Peace and Partnership. The
goals are structured to emphasize the interconnectedness of these five areas and recognize that progress in one
area has a positive impact on others.

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The first goal is to end poverty in all its forms everywhere. This goal recognizes that poverty includes not only
lack of income and resources, but also lack of access to basic services such as education and health care. The
goal is also to ensure that no one is left behind, no matter where they live or the circumstances.

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The second goal is to end hunger, achieve food security and improved nutrition and promote sustainable
agriculture. This goal aims to ensure that all people have access to sufficient, safe and nutritious food and that
food systems are resilient and sustainable.

A third goal is to ensure healthy lives and promote well-being for all at all ages. The goal is to ensure that
everyone has access to quality health services and that no one is left behind. It is also designed to enable
everyone to lead a healthy and productive life.

A fourth goal is to ensure inclusive and equitable quality education and promote lifelong learning
opportunities for all. The goal is to ensure that all people, regardless of background, have access to quality
education and that no one is left behind. It is also designed to ensure that everyone acquires the skills and
knowledge they need to lead productive and fulfilling lives.

The fifth goal is gender equality and the empowerment of all women and girls. This goal aims to ensure that
all women and girls have the same rights and opportunities as men and boys and that no one is left behind.

The sixth goal is to ensure availability and sustainable management of water and sanitation for all. This goal
aims to ensure that all people have access to safe, clean water and sanitation wherever they live, and that these
resources are managed sustainably.

The seventh goal is to ensure access to affordable, reliable, sustainable and modern energy for all. The goal is
to ensure that everyone, wherever they live, has access to affordable and reliable energy and that these
resources are managed sustainably.

The eighth goal is to promote sustainable, inclusive and sustainable economic growth, full and productive
employment and decent work for all. This goal aims to ensure that all people have access to decent jobs,
regardless of their circumstances, and that economic growth is inclusive and sustainable.

The ninth goal is to build resilient infrastructure, promote inclusive and sustainable industrialization, and
foster innovation. This goal aims to ensure that all countries have access to resilient infrastructure and that
industrialization and innovation are inclusive and sustainable.

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A tenth goal is to reduce inequality within and between countries. This goal aims to ensure that all people
have access to the same opportunities, regardless of their circumstances, and to reduce inequalities within and
between countries.

The eleventh goal is to make cities and human settlements inclusive, safe, resilient and sustainable. This goal
aims to ensure that all cities and human settlements are safe, resilient, inclusive and sustainable.

The twelfth goal is to ensure sustainable patterns of consumption and production. This goal aims to make
sustainable consumption and production patterns accessible to all people, regardless of their circumstances.

Goal 13th is to take urgent action to address climate change and its impacts. This goal aims to ensure that all
countries take urgent action to reduce greenhouse gas emissions and adapt to the effects of climate change.

The fourteenth goal is the conservation and sustainable use of seas, seas and marine resources for sustainable
development. This goal aims to ensure that all countries act urgently to protect and conserve the oceans and
seas and to use marine resources sustainably.

The 15th goal is to protect, restore and promote sustainable use of terrestrial ecosystems, sustainably manage
forests, combat desertification, halt and reverse land degradation, and reduce biodiversity loss. Block it. This
goal aims to protect, restore and promote sustainable use of terrestrial ecosystems, sustainably manage forests,
combat desertification, halt and reverse land degradation and biodiversity loss. It aims to ensure that all
countries take urgent action to stop

Goal 16th promotes peaceful and inclusive societies for sustainable development, provides access to justice
for all and promotes effective, accountable and inclusive institutions at all levels. is to build. This goal aims to
ensure that all countries act urgently to promote peaceful and inclusive societies and provide access to justice
for all.

The seventeenth goal is to strengthen the means of implementation and revitalize the global partnership for
sustainable development. This goal aims to ensure that all countries take urgent action to strengthen the means
of implementation and revitalize the global partnership for sustainable development.

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The SDGs are ambitious but achievable global goals aimed at creating a better world for everyone, everywhere.
They are a call to action for all nations, large and small, to take swift, concerted global action to end poverty,
reduce inequality and protect the planet. The success of the SDGs will depend on the commitment and
collaboration of all stakeholders, including governments, civil society, the private sector and individuals.
Together, we can ensure that no one is left behind and that everyone, everywhere, enjoys peace and prosperity
now and in the future.

1.2 SDG Targets for Company’s

SDG Target Target 1: Reduce Emissions and Increase Energy Efficiency

The company aims to reduce its carbon footprint by 50% by 2030. To achieve this, the company implements
energy efficiency measures including the installation and use of renewable energy sources such as solar, wind
and geothermal. These measures also include reducing energy consumption in manufacturing processes, using

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energy efficient technologies and improving energy management systems. In addition, the company develops
and implements energy conservation strategies to reduce energy consumption.

SDG Target Goal 2: Improve access to clean water and sanitation

The company strives to provide access to clean, safe drinking water and sanitation to all employees, customers
and the communities in which it operates. To achieve this, the company develops and implements policies that
encourage the use of water-efficient technologies and practices and the adoption of water-friendly building
and infrastructure designs. In addition, we will work on improving the wastewater management system, such
as installing wastewater treatment equipment and reusing wastewater for irrigation after treatment.

SDG Target Goal 3: Promotion of sustainable agriculture

The company promotes sustainable agricultural practices, such as the use of organic fertilizers and pest control
techniques, and the conservation of soil and water resources. To achieve this, the company develops and
implements policies that promote the adoption of sustainable agricultural practices, such as integrated pest
management and the use of water-saving irrigation systems. The company also seeks to reduce the use of
synthetic fertilizers and pesticides and encourage the use of organic and natural fertilizers and crop protection
products.

SDG Target Goal 4: Increase access to affordable and clean energy

The company strives to improve access to affordable and clean energy for all. To achieve this, the company
promotes the use of renewable energy sources such as solar, wind and geothermal energy, as well as other
energy efficiency measures. The company also develops and implements energy saving strategies such as
reducing energy consumption in manufacturing processes, using energy efficient technology and improving
energy management systems.

SDG Target Goal 5: Building a sustainable supply chain

The company strives to build sustainable supply chains that facilitate the management of natural resources and
the reduction of environmental impact. To achieve this, the company develops and implements policies that
promote the adoption of sustainable procurement practices, including the use of natural, recycled and

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sustainable materials, and the implementation of best practices in waste management. To do. The company
also strives to reduce the use of harmful chemicals and materials in its production processes and encourage the
use of environmentally friendly packaging materials.

SDG Target Goal 6: Promoting sustainable consumption

We will strive to promote sustainable consumption, such as resource consumption and waste reduction. To
achieve this, the company develops and implements policies that promote the reduction of resource
consumption and waste generation, and the adoption of sustainable consumption practices. The company also
strives to reduce the amount of packaging materials used and ensure all materials are recyclable and
compostable.

SDG Target Goal 7: protect biodiversity

Companies strive to protect biodiversity and promote the sustainable use of natural resources. To achieve this,
the company develops and implements policies that promote ecosystem protection, species protection, and
sustainable use of resources. The company also seeks to reduce the impact of its operations on biodiversity
and promote the adoption of sustainable forestry and fisheries.

SDG Target Goal 8: Reduce pollution and waste

The company will strive to reduce pollution and waste. To achieve this, the company will develop and
implement policies that promote the reduction of air, water and soil pollution, and adopt waste management
best practices. The company will also strive to reduce the use of hazardous chemicals and materials in the
production process and promote the use of environmentally friendly packaging materials.

SDG Target Goal 9: Sustainable infrastructure development

The company will strive to develop infrastructure that is both environmentally friendly and economically
viable. To achieve this, the company will develop and implement policies that promote the use of green
building materials and technologies, as well as apply best practices in urban planning. The company will also
strive to reduce energy consumption in construction and infrastructure projects, and promote the use of
renewable energy sources.

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SDG Target 10 goals: Promote responsible business practices

The Company will strive to promote responsible business practices, including the application of ethical and
sustainable management practices. To this end, the company will develop and implement policies that promote
the adoption of best practices in corporate governance, diversity and inclusion, and employee rights. The
Company will also strive to ensure the protection of human rights, promote gender equality and protect the
rights of workers.

SDG Target 11 Goals: Strengthen financial inclusion

The Company will strive to increase financial inclusion by promoting access to financial products and services
for all. To this end, the company will develop and implement policies that promote the adoption of responsible
financial practices, as well as the development of innovative financial products and services. The company
will also work to reduce the cost of accessing financial services and promote financial literacy and education.

SDG Target 12 goals: Promoting sustainable production

The Company will strive to promote sustainable production practices, including the adoption of best practices
in resource efficiency, waste reduction and sustainable production. To this end, the company will develop and
implement policies that promote the adoption of sustainable production methods, as well as the use of natural,
recycled and sustainable materials. The company will also strive to reduce the use of hazardous chemicals and
materials in the production process and promote the use of environmentally friendly packaging materials.

SDG Target 13 goals: Fighting climate change

The company will strive to combat climate change by reducing greenhouse gas emissions and adopting climate
change mitigation strategies. To achieve this, the company will develop and implement policies to promote
the use of renewable energy sources, measures to save energy and reduce energy consumption. The Company
will also strive to minimize the impact of its activities on the environment and promote the development of
climate change adaptation strategies.

SDG Target 14 Goals: Protect and restore oceans and marine resources

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The company will work to protect and restore oceans and marine resources by reducing marine pollution and
adopting sustainable fishing and aquaculture practices. To achieve this, the company will develop and
implement policies that promote the adoption of sustainable fishing and aquaculture practices, as well as
reduce marine pollution. The company will also strive to promote the conservation of marine species and
reduce the impact of their activities on the marine environment.

SDG Target 15: Protect and Restore Forests and Land

The Company will work to protect and restore forests and land through the application of sustainable land
management practices, ecosystem protection and species conservation. To achieve this, the company will
develop and implement policies that promote the adoption of sustainable land management practices, as well
as the use of natural, recycled and sustainable materials. The company will also work to reduce deforestation
and promote the use of sustainable forestry and fisheries practices.

SDG Target 16 Goals: Promote peace, justice and an inclusive society

The Company will strive to promote peace, justice and inclusive society by promoting respect for human rights
and adopting best practices in corporate governance. To achieve this, the company will develop and implement
policies that promote the protection of human rights, promote gender equality and protect the rights of workers.
The Company will also strive to ensure respect for the rule of law and promote the development of peaceful
and inclusive societies.

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1.3 SDG Goals for Marico Limited

1. Marico Co., Ltd. strives to achieve gender

equality in the workplace by 2025.

2. Marico will strive to reduce the gender pay

gap in its global operations by 20% by 2025.

3. Marico Ltd. will strive to provide equal

opportunities for all employees, regardless of
gender, by 2021.

4. Marico Co., Ltd. will strive to promote

diversity and inclusion in the workplace by
2022.

5. Marico . Co., Ltd work to ensure fair and equal wages for all workers, regardless of gender, by 2023.

6. Marico Ltd. will strive to ensure safe and secure working conditions for all employees, regardless of gender,
by 2024.

7. Marico Ltd. will strive to provide access to quality healthcare, education and training to all its employees,
regardless of gender, by 2025.

8. Marico Co., Ltd. strives to reduce gender-based discrimination and harassment in the workplace by 2023.
9. Marico Co., Ltd. strives to close the gender gap in senior leadership positions by 2025.

10. Marico. Co., Ltd will strive to provide equal access to career development opportunities, regardless of
gender, by 2022.

11. Marico Ltd. will strive to ensure equal parental leave policies for both sexes by 2024.

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twelfth. Marico Ltd. will strive to ensure equal access to mentoring and training opportunities, regardless of
gender, by 2025.

13. Marico Co., Ltd. strives to promote a culture of respect and tolerance in the workplace, regardless of
gender, by 2021. 14. Marico Limited strives to provide equal access to leadership development programs,
regardless of gender, by 2023.

15. Marico. Co., Ltd strive to promote a culture of equal representation and participation in decision-making,
regardless of gender, by 2024.

16. Marico Ltd. strives to achieve equal access to resources, such as capital and technology, regardless of
gender by 2022.

17. Marico limited company will strive to improve the ability of all employees, regardless of gender, to better
contribute to the growth and success of the business by 2025.

18. Marico Ltd. will work to ensure that all employees, regardless of gender, enjoy the same benefits and
incentives in 2021. 19. Marico Co., Ltd. strives to create an organizational culture free of prejudice and gender
stereotypes by 2023.

20. Marico. Co., Ltd will work to ensure that all employees, regardless of gender, receive equal recognition
and reward for their work by 2025.

1.4 History of these SDG’s, implementation progress

The Sustainable Development Goals (SDGs) are a set of 17 ambitious objectives adopted by the United
Nations General Assembly in 2015 to achieve a more sustainable and equitable world. The SDGs are the
successor to the Millennium Development Goals (MDGs) and are the world’s roadmap for achieving a better
and more equitable future for all.

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The SDGs, also known as the Global Goals, are the result of a comprehensive intergovernmental process that
began with the Millennium Declaration in 2000. Since then, the United Nations has held several international
conferences and summits to define and refine the SDGs. The SDGs are based on the principles of human rights,
equity, sustainability and accountability, and they are applicable to all countries, regardless of their economic,
social and environmental conditions.

The SDGs are meant to be a comprehensive and interconnected approach to global development. They are
intended to address all the major challenges facing the world today, from poverty and hunger to climate change
and environmental degradation. They include goals related to education, health, gender equality, access to
clean water and sanitation, sustainable cities and communities, and responsible consumption and production.

The SDGs are organized into 17 goals and 169 targets. Each goal has a set of targets with specific indicators
to measure progress. The SDGs are a call for action to all countries and stakeholders to take urgent and concrete
steps to reduce poverty and inequality, protect the environment and promote peace and justice.

The implementation of the SDGs is the responsibility of governments, businesses, civil society, and
individuals. Governments have a special responsibility to lead the way in ensuring the SDGs are met. They
must design and implement national policies and programmes that are consistent with the SDGs and allocate
sufficient resources to their implementation. Businesses can contribute to the SDGs by adhering to responsible
business practices, investing in sustainable technology, and encouraging sustainable consumption. Civil
society organizations can play an important role in advocating for the SDGs, raising awareness and mobilizing
resources. Finally, individuals can help by making informed decisions, engaging in sustainable practices, and
advocating for the SDGs in their communities.

The success of the SDGs will depend on the collective effort of all stakeholders. International cooperation and
partnerships are essential for achieving the SDGs, particularly in the areas of finance, technology, and capacity
building. The United Nations, development banks, and other international organizations are working to
mobilize resources and support countries in their efforts to implement the SDGs.

Since their adoption, the SDGs have been widely embraced by governments, businesses, and civil society
organizations around the world. Significant progress has been made in some areas, such as poverty reduction
and access to education. However, much more needs to be done to ensure that no one is left behind and that
all countries are able to achieve the SDGs.

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Every year, the United Nations releases a progress report that tracks progress on each of the SDGs. The report
provides an overview of the progress made, identifies challenges and gaps, and suggests ways forward. The
report also provides a useful tool for governments, businesses, and civil society organizations to assess their
progress and identify areas where more action is needed.

Overall, the implementation of the SDGs has been positive and encouraging. Despite the challenges, the SDGs
have provided a powerful rallying cry for global action, and they have helped to focus global attention on the
most pressing issues of our time. If we are to achieve the SDGs, it is essential that we continue to work together
and take collective action to ensure that no one is left behind.

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CAPTER 2- ESG Framework in India

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2.1 Significance of ‘E’, ‘S’ and ‘G’ in Business

The letters ‘E’, ‘S’ and ‘G’ have become key acronyms in the business world as they stand for Environmental,
Social and Governance (ESG) factors. ESG factors refer to the non-financial performance indicators used to

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assess the sustainability and ethical impact of an organization or investment. This means that when an
organization or investment is evaluated, it must be assessed not only on its financial performance but also on
how it performs in relation to environmental, social and governance issues.

The environment can be seen as the natural resources and the surrounding environment in which a business
operates and interacts with. Social factors refer to the impact a company has on its stakeholders, such as its
employees, partners, customers and the local community. Governance factors refer to the practices and
procedures that a company has in place to ensure that it is operating in an ethical and transparent manner.

The importance of ESG factors has been growing steadily in recent years as more and more people and
organizations become aware of the importance of sustainability and ethical practices. The public is increasingly
becoming aware of the need for companies to be held accountable for their impact on the environment and
society. As such, many investors and companies are looking to incorporate ESG factors into their decision-
making processes.

The incorporation of ESG factors into business decisions is beneficial for a number of reasons. Firstly, it allows
companies to make decisions that reflect their values and beliefs, which can be beneficial for their reputation.
ESG factors can also help to identify risks and opportunities, as they provide a comprehensive view of a
company’s performance. This can be beneficial as it allows companies to better manage their risks and take
advantage of opportunities. Additionally, incorporating ESG factors into business decisions can help to attract
and retain talent as ESG-friendly companies are seen as more employers that are attractive.

Furthermore, incorporating ESG factors into business decisions can be beneficial for investors. ESG factors
can provide insight into an organization’s performance, allowing investors to make more decisions that are
informed. This can be beneficial as it can help to reduce the risk of investing in a company that is unsustainable
or has poor governance. Additionally, investors can benefit from the long-term stability and returns associated
with ESG-friendly investments.

The letters ‘E’, ‘S’ and ‘G’ have become important acronyms in the business world as they stand for
Environmental, Social and Governance (ESG) factors. Incorporating ESG factors into business decisions is
beneficial for many reasons, such as helping to identify risks and opportunities, improving reputation, and
attracting and retaining talent. Additionally, ESG factors can be beneficial for investors, as they can help to

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make more decisions that are informed and reduce the risk of investing in a company that is unsustainable or
has poor governance.

2.2 Components of Business Responsibility and Sustainability Report (BRSR)

Business Responsibility and Sustainability Report (BRSR) is a type of report that provides a comprehensive
overview of a company is social, environmental, and economic performance and how it contributes to
sustainable development. This report is an important tool for investors, stakeholders, and policy makers to
evaluate the performance of a company. It is also used to inform stakeholders of the company’s strategies and
commitments to sustainability. The components of a BRSR include a description of the company’s
sustainability practices and goals, a review of the company’s performance against its commitments, and
recommendations for improvement.

The first component of a BRSR is a description

of the company’s sustainability practices and
goals. This part of the report outlines the
company’s current approach to sustainability
and its plans for the future. It should provide a
clear and concise overview of the company’s
commitments to sustainability, including
environmental stewardship, social
responsibility, and economic performance. The
report should also include an explanation of the company’s sustainability strategy and why it is important.

The second component of a BRSR is a review of the company’s performance against its commitments. This
part of the report should include detailed information about the company’s progress towards achieving its
sustainability goals. This should include both quantitative and qualitative data, such as the company’s
greenhouse gas emissions, waste management practices, employee engagement, and community involvement.
The report should also include an assessment of the effectiveness of the company’s sustainability initiatives
and any areas for improvement.

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The third component of a BRSR is a set of recommendations for improvement. This part of the report should
provide an objective evaluation of the company’s performance and suggest areas for improvement. It should
include both short-term and long-term recommendations and provide an action plan for implementing the
suggestions.

The final component of a BRSR is a summary of the company’s efforts to address sustainability issues. This
part of the report should provide an overview of the company’s policies and initiatives related to sustainability
and how it is meeting its commitments. It should also include information about the company’s efforts to
engage with stakeholders, such as customers, employees, and local communities.

A BRSR is an important tool for companies to demonstrate their commitment to sustainability and their
progress towards achieving their sustainability goals. It helps to provide stakeholders with a comprehensive
overview of the company’s performance and progress and helps to inform decision-making. A well-
constructed BRSR should include a description of the company’s sustainability practices and goals, a review
of the company’s performance against its commitments, and recommendations for improvement. A summary
of the company’s efforts to address sustainability issues should also be included.

2.3 BRSR requirements, essential BRSR disclosures

BRSR Requirements

The Basel III Regulatory Requirements (BRSR) is a set of rules, regulations and requirements imposed by the
Basel Committee of Bank Supervision (BCBS) on banks, financial institutions and other financial sector
entities around the world. The BRSR was established to ensure that all financial institutions operating in the
global financial system, adhere to the highest level of safety and soundness to protect their customers’ funds
and to ensure the stability of the global financial system.

The BRSR requires banks to maintain a minimum level of capital adequacy, defined as a percentage of total
assets, which must be maintained to ensure the safety and soundness of the institution. In addition, the BRSR
also requires banks to have in place a sound risk management framework and to have appropriate internal

25
controls. Banks must also have robust governance procedures in place to ensure that their operations are
conducted in a safe and sound manner.

The BRSR requires that banks and financial institutions adhere to certain standards of disclosure and
transparency. These standards are designed to ensure that customers and investors can make informed
decisions about the financial products and services they are using. Banks must provide clear and transparent
information to their customers and investors about the products and services they offer, the associated risks,
and the fees and charges associated with those products and services.

Essential BRSR Disclosures

The BRSR requires banks and financial institutions to provide certain essential disclosures to their customers
and investors. These disclosures must be provided in a clear and transparent manner to ensure that customers
and investors can make informed decisions about their investments.

The essential BRSR disclosures include:

1. Risk Appetite: Banks and financial institutions must clearly disclose their risk appetite. This includes their
willingness to take on risk and their ability to manage the risk they have taken on. Banks must also disclose
their risk tolerance, which is the amount of risk they are willing to take on.

2. Capital Adequacy: Banks must disclose their capital adequacy, which is the percentage of total assets they
must maintain to remain solvent. Banks must also disclose the level of capital they must maintain to meet the
BRSR requirements.

3. Risk Management Framework: Banks must disclose their risk management framework, which includes
their policies and procedures for managing risk. Banks must also disclose how they monitor, measure and
report risk.

4. Governance Structure: Banks must disclose their governance structure, which includes the roles and
responsibilities of their board of directors and senior management. Banks must also disclose the procedures
and processes they have in place to ensure effective governance and monitoring of their operations.

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5. Internal Controls: Banks must disclose the internal controls they have in place to ensure their operations
are conducted in a safe and sound manner. This includes their procedures for approving and monitoring
transactions, their processes for detecting and preventing fraud and money laundering, and their policies for
identifying and managing conflicts of interest.

6. Fees and Charges: Banks must disclose the fees and charges associated with the products and services they
offer. This includes the fees for account maintenance, for deposits and withdrawals, for payments, for transfers
and for other services. Banks must also disclose any additional fees or charges associated with their products
and services.

The BRSR is an important set of rules, regulations and requirements imposed by the BCBS to ensure that
banks and financial institutions maintain a safe and sound operating environment. The BRSR requires banks
and financial institutions to provide essential disclosures to their customers and investors to ensure they can
make informed decisions about the products and services they are using. Banks and financial institutions must
also adhere to certain standards of disclosure and transparency to ensure their operations are conducted in a
safe and sound Management.

2.4 ESG policy and culture of Marico ltd Company

Marico Ltd is a leading Indian consumer goods company that has an established Environmental, Social and
Governance (ESG) policy and culture. The company was established in 1988 and is now one of the leading
consumer goods companies in India, with a presence in over 20 countries. Marico is committed to operating
responsibly and sustainably, including through its ESG policy and culture.

Marico's ESG policy outlines the company's commitment to sustainability and responsible business practices.
The policy includes commitments to respect human rights, protect the environment, promote health and safety,
ensure ethical business conduct, and promote corporate transparency and accountability. The policy also
includes an anti-corruption and bribery policy, which is in line with international standards.

Marico's ESG culture is based on its core values, which include integrity, respect, excellence, and innovation.
The company also has a code of conduct that sets out its expectations for employees and suppliers. Marico is
committed to creating an ethical and responsible corporate culture and has an internal compliance function,
which is responsible for ensuring that the company adheres to its ESG policy and culture.

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Marico has implemented various ESG initiatives and programs to ensure that it is meeting its ESG
commitments. These initiatives include energy efficiency and conservation initiatives, water conservation and
management initiatives, waste management and recycling initiatives, and biodiversity conservation initiatives.
The company also has a number of programs in place to promote health and safety, including a health and
safety committee, health and safety training, and occupational health and safety standards.

Marico also carries out regular ESG audits and reviews to ensure that the company is meeting its ESG
commitments. The company is committed to continual improvement and is constantly looking for new ways
to reduce its environmental impact and promote responsible business practices.

Sustainability Policy Marico, as a responsible corporate citizen is fully committed to its purpose “Make a
Difference”. We are engaging in meaningful dialogue with our stakeholders while striving to improve social,
environmental and economic performance of our operations. Our commitment is to

 operate business in an efficient and financially sustainable manner while satisfying our customers
through value added products / solutions and creating value for stakeholders
 ensure good governance, ethics and transparency in our engagements with stakeholders while
promoting & advocating responsible business practices
 comply with all applicable legal, environmental & social requirements
 promote sustainable consumption while enhancing the nutrition, wellbeing and beauty of our
consumers
 integrate sustainability considerations throughout the life cycle of our products & services by
institutionalizing innovation within organization and its stakeholders
 reduce the green-house gas emissions, enhance energy efficiency, promote renewable energy use and
reduce waste at our operations
 foster health, safety and well-being of employees and inculcate a culture of empowerment and
enrichment
 collaborate with communities towards social interventions in the identified thrust areas
 Develop sustainability Key Performance Indicators (KPIs), set definitive targets and establish
monitoring mechanism for continual improvement.

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Safety, Health & Environment Policy

Marico Limited is committed to bring in and maintain higher standards of excellence in Safety, Health and
Environment as an integral part of the business. We shall achieve this by demonstration of our commitment
to:

 compliance obligations on Safety, Health and Environment standards

 Quick response to the SHE concerns of employees, suppliers, society and all stakeholders through
efficient incident reporting & investigation process.
 evaluation of all the SHE aspects during design, procurement and operation or services
 adoption of environment friendly production technologies and efficient usage of renewable and non-
renewable energy
 establishment of a continual improvement process through rigorous review system and achievement of
higher goals in SHE area
 minimization of our impact on the environment through pollution prevention, reduction of natural and
man-made resources consumption, reduction of emissions and conservation of resources by reducing,
reusing, recycling and managing waste.
 attention towards employees’ attitude and performance towards SHE during career advancements
 Competency enhancement of all the employees through continuous training pertaining to SHE and
promote SHE awareness among key stakeholders.

6. Implementation

Sustainability programs will have long term Sustainability Goals and Short Term Initiatives in relevant
areas. These initiatives will be taken up by sites as well as by corporate teams based on its nature.

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CHAPTER-3: INSIGHTS ABOUT THE COMPANY’S AND INDUSTRY’S
SDG AND ESG PRACTICES

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3.1 Mapping of Company Business Practices with SDG/ESG

Marico Limited is an Indian consumer goods company that operates in the beauty and wellness space. The
company's business practices may align with certain sustainable development goals (SDGs) and
environmental, social, and governance (ESG) principles, depending on the specific initiatives and strategies it
has implemented. Some examples of how Marico's business practices could potentially align with SDGs and
ESG principles include:

SDG Target 12 Promoting sustainable production

Zero waste: Marico may have initiatives in place to minimize waste and promote resource efficiency, which
could align with SDG 12 (Responsible Consumption and Production) and ESG principles related to waste
management and resource efficiency.

SDG Target Goal 3: Promotion of sustainable agriculture And

SDG Target 10 goals: Promote responsible business practices

Social responsibility: Marico may have initiatives in place to support the communities in which it operates,
such as through programs to support education or promote health and wellness. This could align with SDG 3
(Good Health and Well-being) and SDG 10 (Reduced Inequalities), as well as with ESG principles related to
social responsibility and community engagement.

SDG Target 13 goals: Fighting climate change

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Environmental sustainability: Marico may have initiatives in place to reduce its environmental impact, such
as through the use of renewable energy or the implementation of sustainable manufacturing practices. This
could align with SDG 13 (Climate Action) and ESG principles related to environmental sustainability.

It is important to note that the extent to which Marico's business practices align with SDGs and ESG principles
may depend on the specific initiatives and strategies the company has implemented. To get a more complete
understanding of Marico's alignment with these principles, it would be helpful to review the company's
sustainability reports and other public information.

Marico Limited ranks highest amongst FMCG companies in the recent ESG report by CRISIL

In the report, which mapped ESG frameworks and implementation for 225 companies (largest listed by market
capitalization) across sectors, only a few non-manufacturing entities like private banks, NBFCs and IT
companies ranked higher than Marico– underscoring its industry leadership in pursuing ESG objectives.

CRISIL’s thorough data-driven analysis looked at the ESG initiatives of these companies across 18 sectors in
India, based on the quantitative and qualitative disclosures made by them. The scores allotted by them are
based on CRISIL’s proprietary framework that included 100 different assessment parameters across the
Environmental, Social and Governance segments. With this, CRISIL assigned the appropriate weight in
percentage to companies across the segments, which reflected the relative importance of the factors.

Saugata Gupta, MD & CEO, Marico Limited said, “At Marico, our purpose is to transform, in a sustainable
manner, the lives of those we touch. In line with this, we have always prioritized ESG material issues that help
us create shared value, thereby minimizing any negative impact on the environment and community we operate
in CRISIL’s recent ESG report and scores have only validated our efforts and spurred us to continue
undertaking endeavor’s that create a positive impact and truly make a difference.”
As a responsible corporate citizen and a firm believer in conscious capitalism, Marico has long focused on
adopting environmentally and ethically sustainable operations that create value for all stakeholders. In line
with its ESG goals, the company has ensured the judicious procurement, use and management of natural
resources while minimizing the environmental impact of its operations.

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For instance, its Perundurai plant has been certified as 100% carbon neutral while, overall, the company has
reduced its GHG emission intensity (Scope 1+2) by 80% and achieved a 2.15% reduction in Scope 3 emissions.
Furthermore, 95% of its packaging material is recyclable by weight and over 25 lakh kilograms of post-
consumer plastic waste (MLP) is safely collected and disposed. Marico also participates in CDP disclosures
and is rated A- for climate change and B+ for water, all the while consistently achieving top quartile position
across national and international ESG public rating platforms.

3.2 Presentation of the insights about the Marico Limited

Marico Business Insights

Marico Limited is a leading Indian consumer goods company that was founded in 1990. The company operates
in various segments such as personal care, hair care, edible oils, health foods, and male grooming. Marico has
a strong presence in India and several other countries in the Asia-Pacific region, the Middle East, Africa, and
the Caribbean.

One of the key insights about Marico's business is its focus on innovation and new product development. The
company has a robust innovation pipeline and has launched several successful products in the past, such as
Parachute Advansed Aloe Vera Enriched Coconut Oil and Saffola Masala Oats. Marico's focus on innovation
has helped it stay ahead of the competition and drive growth in the highly competitive consumer goods market.

Another key insight about Marico is its strong distribution network. The company has a wide distribution
network that covers both rural and urban areas in India, as well as several other countries. This strong
distribution network has helped Marico reach a large customer base and expand its market share.

Marico has also shown a strong commitment to sustainability. The company has implemented several
initiatives to reduce its environmental impact, such as reducing its water usage and increasing its use of
renewable energy. Marico has also focused on sustainability in its supply chain, working with its suppliers to
improve their environmental performance.

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Marico has a strong financial performance, with consistently high revenues and profits. In the financial year
2020, the company reported revenues of INR 10,657 crore and a net profit of INR 574 crore. Marico has a
strong balance sheet, with low debt levels and a high net cash position.

One of the challenges facing Marico is the highly competitive nature of the consumer goods market. The
company faces competition from both domestic and international players, which can put pressure on margins.
Marico has responded to this challenge by focusing on innovation and brand building to differentiate itself
from its competitors.

Another challenge for Marico is the impact of macroeconomic factors on its business. The company's
operations are largely concentrated in India, which is subject to fluctuations in the macroeconomic
environment. Marico has sought to mitigate this risk by diversifying its operations across multiple countries
and segments.

Overall, Marico is a well-established and successful consumer goods company with a strong focus on
innovation, sustainability, and a wide distribution network. While the company faces some challenges, its
strong financial performance and commitment to growth make it well-positioned to continue driving success
in the future.

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Chapter-4: Major initiatives in last one year of the company And Present
facts & figures in narrative form

35
C om plet ion of M ari co’s 5 -y ea r Su staina bi lity 1.0 Roadmap

Marico’s first 5-year sustainability goals have been the value-based differentiator for the business, that
helped demonstrate stakeholder capitalism, social inclusion, responsible production and consumption, and
above all deep-seated impact on the communities that help us thrive. Through a cohesive and structured set
of policies, strategies and interventions, we were able to surpass the 5-year targets that we had set up across
our material environmental, social and governance (ESG) related goals upto FY22.

Social Value Creation

Continual efforts to accelerate social impacts of all initiatives undertaken within the program boundary
(2017-2022).

Sustainable Coconut

Continual Goal

Increase farmer beneficiaries by 5% y-o-y

STATUS IN 2022

Over 62,000 farmers have been enrolled in Marico's sustainable coconut programmer reflecting a y-o-y
addition of 15,000+ beneficiaries. 2.55 Lakh acres have been enrolled

Continual Goal

Ensure 100% adherence to all product compliance

STATUS IN 2022

Marico’s Product Sustainability Index, a first-of-its kind framework has been developed that quantifies
products environmental, social and governance impacts using a set of 25 key performance indicators with
measurable scales Corporate Governance & Behaviour

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100% compliance and execution of corporate governance framework to create
transparency, accountability and social inclusion within the business ecosystem (2017-22)

FY25 Goal (Recyclable Packaging)

Have 100% recyclable, reusable or compostable packaging portfolio

FY22 Goal (Energy)

Reduce energy intensity (plant operations) by 50% from FY13

Energy and Emissions

STATUS IN 2022

73.3%

FY22 Goal (Emissions)

Reduce GHG emission intensity (Scope 1 and 2) by 75% from FY13

STATUS IN 2022

80.5%

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Water Stewardship

Continual Goal

Offset 100% of water used in own operations through capacity creation and conservation measures

STATUS IN 2022

263 Crore litres of water capacity created for communities till date which is 3x that of our consumption in
operations

Circular Economy

0.37% PVC in packaging. Goal extended to FY25 and shall be achieved by then

STATUS IN 2022

96%. This is on track and the goal shall be achieved by FY25.

Responsible Sourcing

FY22 Goal

Certify 20% of critical value- chain partners on Level 1 of responsible sourcing

STATUS IN 2022

46% of critical value-chain partners have completed Level 1 certification and 10% have completed Level 2
certification

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Vis ion for 2030

Launch of ESG 2.0 to demonstrate our commitments in this Decade ofAction

Moving ahead, we would like to deepen the penetration of our ESG impact across the business ecosystem
and for that we launched Marico ESG 2.0 framework on June 5, 2022, commemorating the 50th
anniversary of UNEP World Environment Day.

ESG 2.0 is a launchpad to achieve our Decade of Action (2030) vision and purpose. It comprises of over 50
key performance indicators across ESG parameters that are of material relevance to us and our stakeholders,
now and into the future.

Marico's approach to materiality

Marico’s ESG 2.0 framework is not just a set of material issues that will determine the

business’s transformation journey in this decade of action; rather, it was developed with the intent of
establishing a constantly evolving and monitoring strategy constantly evolving and monitoring strategy to
strengthen the business’s core purpose of making a difference to the planet and people who matter.

The framework will enable best-in-class enterprisewide ESG policy and implementation plan that have cross-
functional success metrics. It will help in permeating the principles of material ESG issues across all levels
in the organisation and embed it in every business planet positive goals within our overall talent attraction,
retention and engagement strategies such that we can foster the culture of an ESG-first enterprise within our
business ecosystem.

Our ESG 2.0 Materiality Model

While the ESG 2.0 Materiality Model encompasses more than 50 key performance issues which will be
tracked and annually reported across Marico geographies upto 2030, we have outlined an extensive 8-point
commitment to effect change around the following key focus areas:

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 Net
Zero emissions in operations
Marico’s net zero emissions’ target in global operations has been set for 2040. In India, however, we intend
to achieve net zero in operations by 2030. Transition to renewables, investments in low-carbon technology
options, carbon forestry and 100% phase-out of fossil fuels from our operations are the key enablers for
the Company to transcend into its net zero, carbon neutral and climate resilient future.

Water Stewardship

The Company aims to achieve certified waterneutral operations across all its manufacturing facilities by
offsetting 100% of its consumption volume with capacity
created for community use. To this end, we have estimated the water stress potential of our facilities in 2022
and created long-term plans (upto 2030) to replenish more water for the communities than consumed in our
operations. Additionally, operational measures will be adopted in each unit to optimise our surface water
consumption intensity by implementing water efficiency-based systems, rainwater usage for process cooling
purposes and deploying zero liquid discharge (ZLD) principles to reduce consumption in our manufacturing
units.

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Responsible Sourcing (Samyut)
Marico’s Responsible Sourcing Framework (Samyut) is anchored on three pivotal themes – Environmental
Stewardship, Ethical Responsibilities and Social Empowerment. The framework is instituted by a three-part
maturity-based roadmap that imbibes our value chain partners into Marico’s philosophy and purpose of
creating sustainable impactacross its value chain. By 2030, the Company plans to roll out Level 1 (Capacity
building and voluntary declaration of commitments) across 100% of its critical suppliers, and Level 2
(Independent risk-based external audits to validate voluntary commitments) to 50% of its critical suppliers
who have completed Level 1. Additionally, annual reporting of key metrics such as traceability, indigenous
materials’ procurement share, and sustainable materials share will be part of Marico’s 2030 goals on
responsible sourcing.

Sustainable coconut farming and boosting farmers’ livelihoods

Marico aims to empower approx. 1+ Lakh farmers about sustainable practices and develop a Sustainable
Coconut standard that provides recommendations to offset the crop’s carbon footprint across its entire

41
 lifecycle. These measures are aimed at improving productivity and enhancing climate resilience, as well as
offsetting carbon impact through afforestation programs, across coconut plantations. The programs aims to
enroll 4+ Lakh acres of coconut plantation by 2025 and achieve a cumulative
Productivity improvement rate of 16%.

Responsible Brands
By virtue of the organization’s core value systems, sustainable value creation is ingrained in every brand’s
existence and purpose. By 2030, Marico aims to cohere the purpose, messaging, and impact based actions
of its top 5 brands by revenue with the goals and targets outlined by the United Nations Sustainable
Development Goals. Each of the top 5 brands will annually quantify and disclose on the sustainable impacts
created y-o-y in adherence to the relevant UN-SDGs along with its targets and indicators.
activities such as sensitization training, policy and process rollouts, infrastructure enablement, etc. – will be
overseen by the Inclusion & Diversity council and Organization Effectiveness teams to create a workplace
free from discrimination and harassment.
Inclusion and Diversity Marico believes in fostering a diversity conscious, diversity ready, and socially
inclusive workplace. Towards this, we target to enhance our gender diversity ratio to 30% and the differently
abled to 5%, as part of our decade of action roadmap. Various programs and activities such as sensitization
training, policy and process rollouts, infrastructure enablement, etc. – will be overseen by the Inclusion &
Diversity council and Organization Effectiveness teams to create a workplace free from discrimination and
harassment.

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Human Rights and Ethics
At Marico, all activities are led by a sense of responsibility, underpinned by our principles of good
governance. Our corporate governance framework enables us to maintain highest standards of human rights,
ethics, and integrity across our operations.
Throughout our decade of action journey, we will continue to imbibe the philosophy and principles related
to human rights and ethics amongst our entire stakeholder ecosystem (members, value chain partners and
business associates). Mandatory
trainings, knowledge management sessions and periodic evaluations will be undertaken at regular intervals
to track performance, preparedness, risks, and opportunities related to human rights and business ethics
across organizational hierarchy.

CHAPTER 5 – REFERENCES

1. Pandey, A. (2021). Marico Ltd: Valuation of Consumer Product Company. In SAGE

Business Cases. SAGE Publications: SAGE Business Cases Originals.
2. Nageswaran, C. K. (1994). Evaluation of distribution options for low volume products;
Marico Ltd.
3. Ramanna, V. (2008). Value Based Management at Marico. Available at SSRN
1232822.
4. Sridharan, S., & Chandrasekhar, R. (2006). Marico Industries Ltd. Central Sales
Organization.
5. Sivagnanam, S., & Manjula, S. (2018). Analysis of Working Capital Efficiency of
Vegetable Oil Companies in India.
6. Das, S. (2013). Business and Financial Risk: A study on FMGC Companies in
India. Journal of Commerce and Accounting Research, 2(1), 34.
Online Sources
1. “Annual Report of marico ltd 2022” Retrieved [Online] on September 23, 2022 from
https://marico.com/india/investors/documentation/annual-reports

2. “MBL_Annual Report of marico ltd 2021” Retrieved [Online] on September 23, 2022

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 from
https://marico.com/investorspdf/MBL_Annual_Report_2021_Interactive.pdf
3. “Panotbook.com was first indexed ” Retrieved [Online] on September 23, 2022 from
https://panotbook.com/marico-products-list/
4. “Moneycontrol.com was first indexed” Retrieved [Online] on September 23, 2022 from
https://www.moneycontrol.com/india/stockpricequote/personal-care/marico/M13

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