New Delhi: Sixty-one per cent of the companies in the five BRICS countries - Brazil, Russia, India, China and South Africa - do not publicly disclose their carbon emission details, according to a survey by Environmental Investment Organisation (EIO), a UK-based climate change and finance think tank.
In the EIO survey, three Indian companies - Infosys (fourth), HCL Technologies (fifth) and Wipro (sixth) - have emerged among the top 10 companies with least emissions. This is part of a ranking of the 300 largest companies in the BRICS region, taking into account greenhouse gas emissions and transparency factors.
Brazil's alternative energy company, Cemig, tops the list of Environmental Tracking (ET) BRICS 300 Carbon Ranking, followed by Vodacom Group of South Africa and Lenova of China. The other firms among the top 10 list are Brazil's BMF Bovespa (seventh), China's Hong Kong Exchanges & Clearing (eighth), Brazil's Natura (ninth) and Chinese firm Hopewell Holdings.
The new study also shows that large quantities of emissions are not being accounted for. Public disclosure of greenhouse gas emissions among the leading BRICS companies is highly inconsistent, with less than 20 per cent of entities correctly adopting the basic principles of greenhouse gas emissions reporting, the study points out.
The other key finding is that no company in the BRICS 300 Ranking fully reports emissions across its entire value chain. Scope 3 (value chain) emissions include greenhouse gas emissions from sources not owned or directly controlled by the company, but over which it has influence. It includes categories such as business travel, transportation and distribution, and investments.
Among the 300 companies, Asian Paints has ended up last with no public data and with a high emission intensity, according to EIO. The other Indian companies that constitute the bottom 10 list are Jaiprakash Associates (293rd) and Grasim Industries (298th).
"This ought to be a wakeup call for companies. Since the majority of total corporate emissions often come from Scope 3 sources, large quantities of emissions are not being accounted for. Not only could this be a source of unmeasured risk for companies, but it also means we are not getting the full picture in terms of corporate emissions. This is precisely why the Carbon Rankings are designed to encourage Scope 3 disclosure," says Sam Gill, chief executive officer at the Environmental Investment Organisation.
These rankings are compiled from publicly available emissions data taken from company sustainability reports, annual reports, and websites.
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Showing posts with label Wipro. Show all posts
Showing posts with label Wipro. Show all posts
Wednesday, May 1, 2013
Tuesday, March 20, 2012
Tata Steel, Wipro among world's most ethical firms
Mumbai: Tata Steel and Wipro have been named among the world's most ethical companies by an American think tank, Ethisphere Institute.
The Ethisphere Institute's annual World's Most Ethical Companies (WME) list revealed that 145 companies in countries including the US, Great Britain, Japan, Portugal and India stood out for setting high standards of employee behaviour and conduct.
Ethisphere evaluated about 5,000 global companies, including those in Standard & Poor's 500 index on reputation, corporate citizenship, culture and other qualities.
Ethisphere's annual list of the WME recognises companies that truly go beyond making statements and conduct business ethically by translating words into actions.
Mr H.M. Nerurkar, Managing Director, Tata Steel, said ethical business principles and practices have been the key differentiators of Tata Group and Tata Steel since inception.
In 1998, the Tata Group developed its first Code of Conduct, which was articulation of its values and business principles followed by its employees since the inception of the group and the company, Tata Steel said in a press release.
The process for implementation of Tata Code of Conduct in the company involves engagement with different global partners of the company including Corus, NatSteel and other companies. The revised version of the Code, Global Tata Code of Conduct, was launched by the Group's Chairman in 2008, it said.
The research-based Ethisphere Institute is a leading international think-tank dedicated to the creation, advancement and sharing of best practices in business ethics, corporate social responsibility, anti-corruption and sustainability.
The Ethisphere Institute's annual World's Most Ethical Companies (WME) list revealed that 145 companies in countries including the US, Great Britain, Japan, Portugal and India stood out for setting high standards of employee behaviour and conduct.
Ethisphere evaluated about 5,000 global companies, including those in Standard & Poor's 500 index on reputation, corporate citizenship, culture and other qualities.
Ethisphere's annual list of the WME recognises companies that truly go beyond making statements and conduct business ethically by translating words into actions.
Mr H.M. Nerurkar, Managing Director, Tata Steel, said ethical business principles and practices have been the key differentiators of Tata Group and Tata Steel since inception.
In 1998, the Tata Group developed its first Code of Conduct, which was articulation of its values and business principles followed by its employees since the inception of the group and the company, Tata Steel said in a press release.
The process for implementation of Tata Code of Conduct in the company involves engagement with different global partners of the company including Corus, NatSteel and other companies. The revised version of the Code, Global Tata Code of Conduct, was launched by the Group's Chairman in 2008, it said.
The research-based Ethisphere Institute is a leading international think-tank dedicated to the creation, advancement and sharing of best practices in business ethics, corporate social responsibility, anti-corruption and sustainability.
Tuesday, May 31, 2011
Wipro buys 80% stake in Brazilian cylinder maker
Bengalore: Wipro Limited has signed a definite agreement to acquire an 80 per cent stake in Brazilian hydraulic cylinder manufacturer RKM Equipamentos Hidráulicos for an undisclosed amount.
According to the agreement, Wipro will acquire the remaining stake over the next three years. RKM would be a part of Wipro’s infrastructure engineering division.
The Bangalore-headquartered company said the acquisition was expected to be completed during this quarter, subject to customary regulatory approvals.
RKM, one of the top four manufacturers of hydraulic cylinders in Brazil, has one plant near Sao Paulo, the capital of Brazil.
The company, which counts global automobile companies and equipment manufacturers like Volvo, AGCO Corporation and CNH Global among its clients, employs 200 people.
Apart from giving a manufacturing base, the acquisition will also mark the entry of Wipro’s infrastructure engineering division into the Brazilian market.
“Brazil is an extremely attractive market for us which is seeing huge investments in infrastructure space, driven by a high-growth economy. The acquisition will provide us an ideal platform to expand our offerings in the Brazilian market and the rest of the Latin America,” said Pratik Kumar, president, Wipro Infrastructure Engineering.
Wipro Infrastructure Engineering, which accounts for less than four per cent of the company’s overall revenues, has three manufacturing facilities in Europe and four in Sweden. It has three manufacturing plants in India and one each in Finland and China. The China plant is expected to be operational this month.
It is a Tier-1 supplier to global original equipment manufacturers of construction and earth moving machinery, material handling equipment, forestry equipment, heavy and medium commercial vehicles.
According to the agreement, Wipro will acquire the remaining stake over the next three years. RKM would be a part of Wipro’s infrastructure engineering division.
The Bangalore-headquartered company said the acquisition was expected to be completed during this quarter, subject to customary regulatory approvals.
RKM, one of the top four manufacturers of hydraulic cylinders in Brazil, has one plant near Sao Paulo, the capital of Brazil.
The company, which counts global automobile companies and equipment manufacturers like Volvo, AGCO Corporation and CNH Global among its clients, employs 200 people.
Apart from giving a manufacturing base, the acquisition will also mark the entry of Wipro’s infrastructure engineering division into the Brazilian market.
“Brazil is an extremely attractive market for us which is seeing huge investments in infrastructure space, driven by a high-growth economy. The acquisition will provide us an ideal platform to expand our offerings in the Brazilian market and the rest of the Latin America,” said Pratik Kumar, president, Wipro Infrastructure Engineering.
Wipro Infrastructure Engineering, which accounts for less than four per cent of the company’s overall revenues, has three manufacturing facilities in Europe and four in Sweden. It has three manufacturing plants in India and one each in Finland and China. The China plant is expected to be operational this month.
It is a Tier-1 supplier to global original equipment manufacturers of construction and earth moving machinery, material handling equipment, forestry equipment, heavy and medium commercial vehicles.
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