IIL’s Comprehensive Sustainability Report Spotlights ESG Standards and Strategic Initiatives

New Delhi, 26th April 2024 – Insecticides (India) Limited (IIL), a prominent player in the nation’s crop protection & nutrition industry, has released its Sustainability (ESG) Report FY23. The comprehensive report, titled “Accelerating Innovation to Foster a Resilient Tomorrow,” sheds light on IIL’s commitment to environmental, social, and governance (ESG) aspects which are of paramount importance to the organization.

The Sustainability (ESG) Report provides valuable insights into IIL’s strategic approach, endeavors, and performance concerning relevant ESG material aspects. This initiative, in addition to the annual report, reflects IIL’s persistent journey towards a sustainable future. For the FY23, the report discloses non-financial information, activities, and sustainability initiatives adhering to the Global Reporting Initiative (GRI) Standards. External Assurance, provided by Ernst & Young Associates LLP, lends credibility to the ESG disclosure, aligning with International Standards on Assurance Engagements 3000 [ISAE 3000 (Revised)].

IIL, known for its wide array of crop protection and nutrition products, including fungicides, insecticides, herbicides, and Biologicals & Plant Growth Regulators (PGRs), has also expanded its offerings to include biologicals few years back, emphasizing sustainable growth. The report highlights IIL’s commitment to being a solution provider through specialized products, catering not only to the Indian market but also have a foothold in more than 24 countries worldwide.

Mr. Rajesh Aggarwal, Managing Director of Insecticides (India) Limited, expressed, “Our ESG journey reflects our understanding of the challenges posed to the industry. By adopting a sustainable approach, we aim to navigate these challenges and thrive in the evolving scene of customer demands. Our commitment lies in developing high-quality, sustainable products, implementing process improvements, and fostering a culture rooted in respect and ethics. We think that businesses that adopt a responsible and sustainable method of working will prosper in the future by keeping up with the quickly evolving demands of the customers.”

“The report outlines IIL’s ESG performance. Some of the key initiatives put forward by organization are: – 30% Green belt conforming to air quality standards; 590.29 MT and 21.44 KL of hazardous waste disposed of; zero liquid discharge in 3 plants, 1,473.31 MW solar power plants contributing 9% of total electricity; and Rs. 271.91 lakhs CSR spent.” Added Mr. Sandeep Aggarwal, CFO.

As a stepping stone in this journey of sustainability, we conducted our first materiality assessment to identify and prioritize the issues that have a direct or indirect impact on us and our ability to create value for our stakeholders. Some of those issues include energy and emissions, water, diversity etc. We have put forward various initiatives for these material issues as mentioned below.

In embracing digital transformation, IIL has streamlined processes at its Dahej plant, replacing manual paper-based reporting with online systems. This initiative resulted in time savings, reduced paper usage, and enhanced real-time process assessment, showcasing the positive impact of technology on operations.

Diversity and equal opportunity are integral to IIL’s culture, reflecting in policies that promote a workplace free of discrimination and harassment.

Recognizing farmers as key stakeholders, IIL engages in awareness campaigns and training workshops. The CSR wing – IIL Foundation – actively partners with diverse NGOs & organizations to implement targeted programmes focusing on raising farmer awareness, promoting education, and delivering preventive healthcare. In the fiscal year 2023, IIL dedicated INR 271.71 lakhs to CSR initiatives, including Project Kisaan Jagrukta Abhiyan, aimed at empowering farmers, and Project Vidhya, designed to enhance educational access for underprivileged children. Employing the “Sahi ka Mantra” (right time, right product, right dosage, right method) approach, the company stresses the importance of the accurate utilization of their crop care products.

IIL’s commitment to sustainability, innovation, and social responsibility highlights its dedication to creating a resilient and thriving future.