~Trend indicates that affinity to sustainable products is on the rise~
~ Announces to invest INR 50 cr in renewable energy initiatives by 2030 ~
Bangalore, November 24th 2022: Godrej & Boyce, the flagship company of the Godrej Group, announced that its business Godrej Interio, India’s leading furniture solutions brand, in home and institutional segments, have experienced an increase in demand for environmentally sustainable products with 47% revenues from Good & Green products in FY23 (current financial year). In the last financial year, Godrej Interio generated 41% of its revenue from Good & Green products. Godrej & Boyce intends to generate one-third of its y-o-y income through Good & Green products.
Godrej Interio has committed to double its energy productivity by 2030 and implement an energy management system (EMS) in all its manufacturing plants by 2024, ahead of the corporate commitment timeline of 2030. In addition to this, Godrej Interio has reduced its specific energy consumption by 37% based on the Good & Green Vision baseline of FY 2010-11 even after the addition of a new facility in Khalapur. The company plans to invest INR 50 cr in renewable energy initiatives by 2030.
Further, Godrej Interio has adopted various technologies across all the manufacturing locations to reduce impact on the planet. These technologies include the use of VFDs (Variable Frequency Drives) on pumps and blowers, use of waste recovery technologies such as heat pipe, use of heat pump, installation of energy efficient machines and energy efficient lighting etc.
Similarly, the recycling of water at Godrej Interio’s plants is being done through Sewage Treatment Plants (STP) or Effluent treatment plants (ETP). The water recycled through ETP is made process ready for re-use in the manufacturing processes through advanced technologies such as reverse osmosis at Khalapur, Chennai and Bhagwanpur. In FY2021-22, around 69,907 Kiloliters of water was recycled and reused which is 40% of the total freshwater usage across Interio’s manufacturing plants. The brand plans to better this percentage by adding substantial levels in the years to come. At Godrej Interio, recycled water carried out via various processes makes up to 28% of the total water usage.
Commenting on the sustainability initiative, Swapneel Nagarkar, Business Head, Godrej Interio said, “At Godrej Interio, we strongly believe that innovation and sustainability must coexist, which is why our sustainability strategy is in line with Godrej & Boyce’s “Good & Green” mission. Combining the two will advance our quest for increased community development, energy efficiency, employability, and circular economy promotion. We are proud contribute and commit to global causes such as the EP100 initiative aligning with India’s long-term strategy for low carbon development ahead of COP27. At Godrej Interio, we can help further this commitment, leading the way to smarter energy usage.”
Godrej & Boyce has also committed to doubling energy productivity by 2030 and further aims to reduce carbon intensity by 60% by 2030 as part of EP100. In alignment with Godrej & Boyce’s commitment towards sustainable earth and social transformation.
The manufacturing plants in Shirwal and Haridwar have installed 360 kW and 329 kW roof-top solar panels, respectively. Godrej Interio receives 13% of the total energy consumption from renewable energy sources. The plants in Vikhroli, Shirwal, Bhagwanpur, Chennai and Haridwar are ISO 50001:2018 certified. This will further help to reduce energy consumption.