Welspun line pipes business continues to accelerate ESG initiatives
Published on : Tuesday 21-12-2021
Welspun Corp ranked in the top one-third in the steel industry in S&P Globals DJSI Corporate Sustainability Assessment.
Mumbai, 20th December 2021: Welspun Corp Ltd. (WCL), one of the world's largest welded line pipe manufacturing companies and part of the USD 2.7 billion Welspun Group, announced that the company has ranked 14th among the 41 companies included in its industry group (66th percentile) in S&P Global's DJSI Corporate Sustainability Assessment (CSA) (Score date: Nov 12, 2021). Welspun Corp's Social Dimension percentile is 75 and Governance & Economic Dimension percentile is 78, both in the top quartile for the steel industry. This marks a milestone for the company, which is a part of a growing movement for ESG consciousness and transparency.
Over 10,000 companies across the globe were a part of the sustainability assessments this year. Each year S&P Global invites the largest companies to participate in the Corporate Sustainability Assessment (CSA) to gain deeper insights into their ESG performance relative to peer firms while providing the transparency that investors need on their progress towards sustainability. S&P Global ESG Scores are also the key factor for selecting companies for the Dow Jones Sustainability Indices (DJSI).
Commenting on this milestone, Mr Vipul Mathur, Managing Director & CEO, Welspun Corp Limited said, "This reflects our ongoing efforts to strategically embed ESG drivers into our business. We are cognizant of the changing expectations of our stakeholders and would like to contribute positively in transitioning to a more sustainable and low carbon mode of operation. These scores will help us keep our sustainability roadmap future-ready. "
Mr Percy Birdy, Chief Financial Officer, Welspun Corp Limited said, "I am delighted that our efforts to strengthen Governance have been recognised. We have an independent and diverse Board which has adopted several Policies in line with global best practices, a well-defined Code of Conduct and an effective Risk Management framework."