The Indian textile industry is rapidly growing into a global giant, recognized by the world as a major exporter of textiles. With the rest of the world actively working towards sustainability and environmentally aware industrial practices, the textile industry in India is working to adopt modern ESG principles, encouraging its major players to respect and follow them. Welspun Living is a giant in the Indian textile industry, leading by example and working hard to set the benchmark for ESG in India.
Delving into Welspun Living’s ESG initiatives will give us a greater understanding of ESG factors in India and how the Indian textile industry is undergoing a metamorphosis.
Welspun Living understands the significant role businesses play in climate change and is actively working to reduce its carbon footprint. They meticulously monitor their Scope 1 (direct emissions from owned or controlled sources), Scope 2 (indirect emissions from purchased electricity), and Scope 3 (value chain emissions) emissions. Through its ESG initiatives, they have achieved significant reduction in Scope 1 & 2 emissions since 2014 and have set ambitious targets for achieving 100% RE by 2030. The various initiatives taken by the company include:
Water is a critical resource, and Welspun Living recognizes its responsibility to use it wisely. As part of their ESG investments, they have built a state-of-the-art 30 Million Litre per Day (MLD) Sewage and wastewater treatment plant at Anjar, which treats sewage generated in 3 nearby towns – Gandhidham, Adipur & Anjar. The treated wastewater meets 100% of the operational water needs of the plant at Anjar. This innovative plant utilizes advanced technology to ensure treated water meets the highest standards, making it suitable for various industrial applications. The company has also constructed rain water harvesting ponds storing 300 mln liters of water which helps in ground water recharging.
As a major player in India’s home textile industry, Welspun Living is committed to sourcing its raw materials responsibly and sustainably. The company has implemented a Sustainable farming program – WelKrishi, under which it works with the cotton farmers across the country to train them on Sustainable cotton farming practices. Such practices not only protect the soil health but also are important for promoting sustainable livelihoods. The company has also partnered with the Better Cotton Initiative (BCI), a global organization that promotes sustainable cotton farming practices. Additionally, they are actively exploring the use of recycled and organic materials in their products.
Welspun Living believes that businesses have a responsibility to give back to the communities they operate in. Their social initiative "Welshikha" focuses on empowering children from underprivileged backgrounds. One of their flagship programs is the "Super Sports Women" initiative, which supports talented female athletes from underprivileged backgrounds, providing them with training, equipment, and mentorship to excel in their chosen sports. These initiatives not only uplift individuals but also contribute to the overall development of the communities.
Transparency and accountability are crucial aspects of good governance. ESG reporting in India has a long way to go. To address this, Welspun Living is committed to being transparent about its sourcing practices, carbon footprint, and social impact. They publish detailed sustainability reports outlining their ESG performance and goals. Additionally, they have implemented robust traceability systems to ensure the ethical sourcing of all their materials. This commitment to transparency builds trust with stakeholders and demonstrates their commitment to responsible business practices.
Welspun Living's dedication to ESG principles is not just a box-ticking exercise; it's ingrained in their core values. Through their comprehensive ESG initiatives, they are setting a commendable example for other companies in the textile industry and beyond. Their efforts across the industry exemplify their presence not just as a towel manufacturer but as an influencer in the Indian home textile industry. By reducing their environmental impact, sourcing materials sustainably, empowering communities, and upholding strong governance practices, Welspun Living is weaving a future that is not only profitable but also sustainable and equitable. Their efforts are setting the benchmark for ESG performance in India.
