We continue adherence to GRI G4 guidelines in our third Sustainability Report for the period April 2016 to March 2017, and report, in addition, our performance in contributing to UN Sustainable Development Goals.
During the reporting period, our business had to face major head winds resulting in fall in Economic Value Generated. However, we are confident that the long term, prospects for wool are positive, though the short term will depend on the interplay between continued economic growth in the major wool consuming countries, the transitioning Chinese economy, and the effect of the strengthening US dollar against the major grower country currencies. We are strengthening our manufacturing and marketing capabilities and capacities to harness the prospects. At the Aditya Birla Group, sustainability in business is the holistic pursuit of 3-step Agenda:
- Managing business operations responsibly – This includes, but is not limited to the creation of a safe working environment at all sites and work places, conserving energy and water, managing waste and emissions and the protection of human rights.
- The understanding of material issues of all stakeholders, their perspective, and usage of this knowledge to actively seek ways to create and share value with each of these stakeholder groups.
- Put in place steps that future proof our business.
At Vikram Woollens, we believe that a strong collaboration with stakeholders is an essential tool in overcoming various challenges and in foreseeing a better implementation of sustainability practices across the business. With each passing year we are moving ahead towards making a difference and helping create a cleaner world. We are committed to continuous improvement in business practices by being socially responsible, balancing economic growth and constantly reducing our environmental footprint for the benefit of all stakeholders.
I hope to get your continued support in our journey to become a more accountable and responsible business.
CEO – Domestic Textiles