AGI Greenpac Partners with PwC to Strengthen its Environment, Social and Governance (ESG) Initiatives to Drive Business Expansion
India, 8th September 2022: AGI Greenpac, a leading packaging company, today announced its strategic partnership with PricewaterhouseCoopers (PwC) to strengthen and streamline its Environment, Social and Governance (ESG) goals to deliver on the company’s longstanding commitment to being a responsible and environmentally-conscious business.
Under this strategic partnership, PwC will offer ESG professional services and help AGI Greenpac innovate, develop and implement new management systems that meet and exceed compliance across environmental and safety aspects relating to all business operations and activities. The company will be working on a set of ESG-related improvement initiatives such as carbon footprint reduction, raw material sourcing, labour management, chemical safety, board diversity, remuneration, ownership and reporting, amongst others.
To build a comprehensive ESG strategy and implementation plan, AGI Greenpac wants to understand the current ecosystem better, evaluate existing market practices and take steps to minimise and delete the gaps in the company. PwC has tailored the ESG strategic framework to deliver a diagnostic benchmarking study for AGI Greenpac, to drive growth by identifying gaps and designing a roadmap to meet customer and stakeholder expectations. As AGI Greenpac continues to drive its expansion plans, the company’s environmental impact remains a key priority. It aims to minimise its carbon footprint and increase the use of renewable energy by 2030.
AGI Greenpac has appointed Ashwin Joshi as a Sustainability Head, and together with PWC, he will be driving the company’s impact and sustainability strategy forward. He will partner with the senior leadership team to help integrate sustainability across AGI Greenpac’s business strategies. Ashwin has 18 years of experience in renewable energies, energy management and audit, carbon footprint mapping and mitigation and project management, among others.
Commenting on the announcement, Mr Rajesh Khosla, CEO and President, AGI Greenpac, said, “Sustainability lies at the heart of AGI Greenpac’s operations, and we strongly believe it to be the fundamental philosophy for better business without neglecting financial or economic viability. Our partnership with PwC will help us achieve a robust sustainability program aligned with our core values. It will enhance our ability to achieve better returns across the market for all stakeholders and drive meaningful contribution to the natural and social environment.”
Mr Sambitosh Mohapatra, ESG Platform Leader, PWC, said, “Integrating ESG into an organisation’s strategy, operations and supply chain helps them on their path towards sustainability and creates long-term value pools, especially in the packaging industry. Our programme will drive specific outcomes and will follow leading practices in accordance with ESG frameworks and set them in motion to achieve the company’s sustainability goals, enhance stakeholder trust and contribute to the UN SDGs seamlessly.”
The company has installed a wastewater recycling and reverse osmosis (RO) plant and uses renewable energy sources in the manufacturing process across businesses. Additionally, under its brand AGI Glaspac, it plans to use 35 per cent recycled glass in its production. The company has also invested in an Electrostatic Precipitation System to monitor and reduce nitrogen oxides (NOx) and sulfur oxides (SOx) exhaust from the chimneys. Under its sustainability goals, the company aims to minimise its carbon footprint and use substantial renewable energy by 2030.
Recently, AGI Glaspac (Packaging unit of AGI Greenpac Limited) commissioned a speciality glass manufacturing facility in Bhongir, which has a combined capacity to process 154 metric tonnes and produce about 70 lakh bottles and containers per day. The greenfield facility will manufacture high-end glass bottles for cosmetics, vials, perfumery, pharmaceuticals, premium spirits, food and beverages, water bottles and candle jars.