Shantel
Key Takeaways
- STL significantly improves its ESG metrics, garnering an ‘A’ rating from global investment firm Morgan Stanley Capital International (MSCI).
- The company earns the Silver medal in the EcoVadis Sustainability assessment with an overall score in the 92nd percentile.
- Zero Waste to Landfill certification and Zero Liquid Discharge are among STL’s world-leading waste management practices.
- STL aims for Net Zero by 2030 and has published policies on sustainable sourcing, energy, waste, and water management.
- A dedicated Human Rights policy emphasizing transparency and employee safety is in the works.
About STL
STL (Sterlite Technologies Ltd) is a global leader in optical and digital solutions. The company’s primary focus is on building next-gen 5G, Rural, FTTx, Enterprise, and Data Centre networks. With a commitment to innovative offerings, STL aims to enhance communications infrastructure around the world.
Winning the ESG Race: From Ratings to Medals
STL’s ‘A’ Game in MSCI Ratings
STL’s dedication to environmental, social, and governance (ESG) concerns hasn’t gone unnoticed. The company has earned an impressive ‘A’ rating from MSCI, which gauges companies based on key metrics like responsible sourcing and clean technology usage. The rating stands as a testament to STL’s robust policies and proactive measures in the ESG space.
Silver Linings in EcoVadis Assessment
Further adding to its accolades, STL scored in the 92nd percentile in the EcoVadis Sustainability assessment and was awarded the Silver medal. The assessment measures a company’s performance in four categories—Environment, Labour and Human Rights, Ethics, and Sustainable Procurement. STL improved its score in three out of these four categories.
Tackling Waste: A Zero-Sum Game
Zero Waste to Landfill Certification
In a world grappling with waste management issues, STL has achieved Zero Waste to Landfill certification for four manufacturing units in India and two in Italy. This means that all waste generated is either recycled or reused, thereby diverting it from landfills.
Zero Liquid Discharge
Additionally, STL has implemented Zero Liquid Discharge across six of its 11 global manufacturing facilities, significantly reducing its environmental footprint. The initiative ensures that no liquid waste exits these units, thereby minimizing water pollution.
Disclosures and Policies: STL’s Commitment to Transparency
Net Zero by 2030 and Other Policies
STL has been diligent in its approach to environmental responsibilities. The company has published policies that outline its path to achieve Net Zero emissions by 2030. Moreover, STL has developed policies on waste, water management, and sustainable sourcing, thus serving as a model for other companies in the industry.
Human Rights Policy
STL is also taking steps to finalize a dedicated Human Rights policy, with a focus on transparency, regulatory compliance, grievance redressal, and employee safety. This will ensure that human rights considerations are integrated into every facet of the company’s operations.
A Word from STL’s Leadership
Akanksha Sharma, Global ESG Head at STL, commented, “Our commitment to sustainability and UN Sustainable Development Goals has been a core driver of our ESG and business actions. We are striving to create tangible and measurable impact through our efforts towards sustainable operations, women empowerment and grassroots work in areas like water conservation, digital education, healthcare and more. These ratings are a validation of our efforts and reinforce our vision to be a leader in addressing sustainability-related risks and opportunities within our industry.”
Conclusions: Sustainability as a Business Imperative
In an age where corporate responsibility can no longer be an afterthought, STL sets an example worth emulating. The company’s ‘A’ rating from MSCI and the Silver medal from EcoVadis do more than just bolster its corporate image—they serve as external validations of the company’s inner commitment to building a sustainable future.
The suite of policies and certifications that STL has accumulated reflects a deep-rooted belief that businesses must be at the forefront of tackling global challenges, from waste management to human rights. As Akanksha Sharma noted, the company sees these milestones as not just achievements, but as validations that spur them to greater efforts in their journey towards full-spectrum sustainability.
STL is not just planning for the next business quarter; it’s planning for the next generation. With a clear focus on sustainable growth and long-term value creation, the company is not only meeting the standards of today but is also setting the benchmarks for tomorrow.
