Governance is a key component of the Vamani Overseas ESG framework, and the company has established a three-layered Governance structure to oversee the implementation of ESG action plans and guide in its future road map. The ESG framework - designed to help Vamani Overseas achieve its objectives and ensure better risk management, the Corporate Governance structure is about maximizing shareholders value, creating long-term value for stakeholders besides growing business in a socially responsible and environmentally friendly manner.

Transparency & Accountability

With a committed leadership, Board of Directors and multiple Board committees; Welspun India is striving to ensure transparency and accountability across the entire organization. Taking cognizance of the rising investor and shareholder activism has constituted its board with members from diverse background, experience & skills to enable it to capture different perspectives and achieve a sustainable growth path. The emphasis of the members is on internal systems, processes, procedures and controls to ensure accurate & transparent action & reporting on financial and non-financial progress of the company. Diversity & Inclusion is also on top of the Board agenda, and efforts are being made to improve the Gender ratio at all levels of the organization. Currently the company fares well with representation of Women Directors at 29% and 1 of 7 independent Directors being women..

Materiality Assessment

Conscious of its environmental footprint & social impact as a global leader in home textiles, the company carried out a detailed and structured materiality assessment to identify its key material issues. The identification involved interaction with different stakeholders and also an assessment of the current ESG and business expectations to finally identify the key issues. Climate change, waste management. water management, supply chain management are some material issues identified by the study.

Supplier Sustainability

Welspun identifies that some extent of its ESG impacts lie in the value chain including its raw material suppliers and it has initiated steps towards mitigation of such impacts. To identify the GHG related impacts of the Supply Chain, Welspun is implementing the Scope 3 emission calculation to identify the emission hotspots in the value chain. The Scope 3 emission is one of the most complex GHG accounting efforts across the industry. The company plans to partner with its Suppliers to initiate their journey towards decarbonization so that jointly we are able to minimize the GHG footprint and support in the Global transition towards Low Carbon economy. Welspun is also looking to partner with the Logistics partners to reduce transport related GHG impacts through options like fuel switch, route optimization, vehicle optimization, etc.

Traceability

Conscious of its environmental footprint & social impact as a global leader in home textiles, the company carried out a detailed and structured materiality assessment to identify its key material issues. The identification involved interaction with different stakeholders and also an assessment of the current ESG and business expectations to finally identify the key issues. Climate change, Waste management. water management, Supply chain management are some of the material issues identified by the study. Vamani-Trak 2.0 Blockchain - One of the largest traceability and ESG transparency rollouts.