Environment
Economic
Social
Environment12 Consecutive years
15 years in a row
for the last 10 years
This Initiative reaches out to over 6.4 million citizens
Over 48% of ITC's Total Energy Requirements met from carbon neutral sources.
22 green buildings
EconomicTurnover has grown 11-fold
Profit has grown 39 times
Total Shareholder Returns has grown at a CAGR of 23.6%
Over $50 billion
Over $8 billion
SocialEmpowering 4 million farmers
Generating over 110 million person-days of employment
Covering nearly 55,000 rural women
Benefitting over 5,25,000 children
Services provided to over 15,00,000 milch animals
Covering nearly 12,500 acres
Training over 46,000 youth
Over 25,000 low-cost sanitary units constructed
It has been our resolve to build an exemplary Indian enterprise that would create enduring value for our country. An organisation that would adopt the credo of putting 'India First' - keeping Country before Corporation and the Institution before the Individual. Over the years, the patriotic sense of 'India First' has grown into a full-blown aspiration to be a National Champion subserving the country's larger priorities. This is not only manifest in the creation of world-class Indian brands, but also in the Triple Bottom Line goals of the Company to nurture larger societal value. The need to sustain global competitiveness in economic value creation, whilst simultaneously creating larger societal value, has led to innovation in business models that seek to synergise the building of economic, ecological and social capital as a unified strategy.
A new paradigm of growth is today called for - an integrated Triple Bottom Line approach that builds competitiveness whilst at the same time ensuring that the environment is nourished and large-scale sustainable livelihoods are created. I call this new paradigm 'Responsible Competitiveness', which to my mind is a pre-requisite to creating a more sustainable future.
'Enterprises of Tomorrow' can bring in transformational change by making societal value creation a conscious strategic decision and not one that banks on corporate conscience alone. ITC has always believed that businesses possess unique strengths to make a larger contribution to society. If the creative and innovative energies that businesses employ to create world-class products and brands are leveraged to deliver social initiatives that serve a larger national objective, it can have a transformative impact on society.
It is this belief that has spurred ITC to craft innovative strategies that orchestrate a symphony of efforts aimed at enriching the environment, creating sustainable livelihoods, empowering local communities and addressing the challenge of climate change.
The 14th Sustainability Report of the Company, headquartered at Virginia House, 37 J.L. Nehru Road, Kolkata, 700 071 (India), covers the sustainability performance for the period April 1, 2016 to March 31, 2017. ITC reports its performance on an annual basis and the last Sustainability Report was published in June 2016. The contact point for any clarifications on the Report or for requesting additional copies of this Report is the Corporate Communications Department at the above address or e-mail: enduringvalue@itc.in.
The reporting principles and methodology are 'In Accordance' with the 'Comprehensive' option of the fourth generation Global Reporting Initiative (GRI) Sustainability Reporting Guidelines. The Reporting Principles, General and Specific Standard Disclosures detailed in the Implementation Manual of GRI-G4 Reporting Guidelines have been followed while preparing the report including the relevant aspects/indicators from GRI-G4 Food Sector supplement for the Foods Business performance.
In line with ITC's Policy on Responsible Sourcing, the Company continues its efforts to influence sustainability practices along the value chain. In the current year, ITC has incorporated the performance of 18 exclusive Third Party Manufacturers (TPMs) catering to the Notebooks segment of Education and Stationery Products Business (ESPB), 2 TPMs of Cigarettes Business and ATC Limited, an associate company of ITC. Coverage of all TPMs in ESPB continues to be a challenge. Two out of the 20 TPMs (80% or more of their production being for ESPB), could not be included in this report due to consistency gaps in identified performance data. Capacity building and regular review of performance data will be continued with in coming years for all significant supply chain partners to address such gaps. Performance of one Unit of our subsidiary North East Nutrients Private Ltd has also been included in this report, expanding the coverage of Subsidiary Companies to 6 in 2016-17.
The economic performance reported here is excerpted from the Company's Report & Accounts (R&A) 2017, audited by independent External Auditors - M/s Deloitte Haskins & Sells.
The data in the environment & social sections of the Report are based on actual performance of the various businesses, factories, hotels and large offices of the Company, TPMs and subsidiary companies as detailed in the reporting boundary. An Integrated Sustainability Data Management System established in the Company to collect, collate and analyse environmental and social data, along with strong internal controls, supports overall integrity and credibility of the disclosures in the Report.
In order to obtain an objective and impartial assurance on the Report, ITC has always obtained independent third party assurance for all its Sustainability Reports since it started reporting in 2004. In the current year, authenticity of the data and systems disclosed in the Sustainability Report 2017 has been assured by M/s Ernst & Young (EY), an independent third party assurance provider. They have provided the assurance as per the International Standard for Assurance Engagements (ISAE) 3000 at a 'reasonable level', the statement of which forms a part of this Report. The assurance statement by M/s EY covers the summary of the work performed, the manner in which the assurance engagement has been conducted, the extent to which ITC has applied GRI-G4 Guidelines and their conclusions on the Report.
ITC Head Office: Kolkata (West Bengal)
Trade Marketing and Distribution (TM&D)
TM&D Headquarters: Kolkata (West Bengal)
District Offices: Kolkata (West Bengal)
District Offices: Mumbai (Maharashtra)
Warehouses: Ambernath (Maharashtra), Hyderabad (Telangana) and Malur (Karnataka)
