Turning Vision Into Sustainable Reality
Asian Paints, a pioneering paint company in India, has achieved a remarkable legacy as the country's largest paint company for almost 50 years. Embracing a strong commitment to environmental, social, and governance (ESG) principles, it has also emerged as a prominent player among the top ten global decorative paint companies. With operations spanning across 14 countries and manufacturing facilities in 26 locations worldwide, Asian Paints has successfully established a vast global footprint while prioritising sustainable practices and responsible growth.
Amit Syngle, Managing Director and CEO of Asian Paints said, “At Asian Paints, our unwavering commitment to sustainability is transforming strong promises into tangible actions. By making responsible choices, we are actively driving the creation of sustainable value. With the ESG targets as our guiding light, we are turning our vision into reality. We have openly disclosed our ESG objectives for the coming years in our annual report, and take pride in being amongst the few responsible Indian companies in the industry to have done this.”
In the financial year 2021-22, Asian Paints achieved a standalone revenue from operations of Rs 25,188.51 crore, accompanied by a standalone profit after tax of Rs 3,134.71 crore.
Environmental footprint
Asian Paints is dedicated to sourcing clean energy and transitioning to a low-carbon operation by increasing the proportion of renewable energy in its energy portfolio. Starting from the fiscal year 2013-14, the company has significantly increased its investments in renewable energy to reduce reliance on fossil fuels.
In fiscal year 2021-22, Asian Paints achieved a noteworthy renewable energy footprint of 61.1 per cent compared to a mere 0.1 per cent in 2013-14, calculated against total electricity consumption. This remarkable achievement was made possible through a wind power portfolio contribution of 38.2 per cent and a solar power portfolio contribution of 22.9 per cent.
“Asian Paints actively contributes to renewable energy generation. Approximately 65 per cent of the energy for our plants is derived from solar and wind sources. In addition to renewable energy, Asian Paints prioritises responsible sourcing. We also provide industry-leading environmentally sustainable product options in every category,” adds Syngle.
Furthermore, in FY22, the company accomplished a commendable water replenishment rate of 282 per cent. “As a part of the company’s commitment to sustainability, we have achieved water positivity by incorporating water harvesting systems across all Asian Paints plants,” says the CEO.
Asian Paints has demonstrated its commitment to sustainability through various formulations and process innovations aimed at improving the scattering efficiency of rutile, a type of titanium dioxide that significantly contributes to the cradle-to-gate product carbon footprint. By focusing on enhancing the spacing of rutile in paint film and employing effective dispersion and stabilisation techniques, the company successfully reduced 17,700 metric tonnes of CO2e in FY22.
Training & Development
In the fiscal year 2020-21, Asian Paints conducted impact assessments as part of its vocational training programme, focusing on activities such as skill development, vocational training, distribution of technical knowledge, and initiatives to enhance productivity and improve livelihoods with dignity. The impact assessments revealed positive outcomes, with professional impact scoring 4.38, financial impact scoring 3.42, intra-personal impact scoring 4.57, and inter-personal impact scoring 4.55. These scores, on a scale of 1 to 5, demonstrate the significant value created through the training programme.
Employee Wellbeing & Inclusion
To instill safe behaviors and promote employee engagement in safety related aspects, Asian Paints has embraced gamification principles. By utilising a gaming portal, employees are exposed to graphical videos depicting various scenarios where they can identify and address unsafe acts and conditions. Through this interactive approach, employees earn points and badges, fostering a culture of safety. Currently, gamification modules have been developed for chemical safety, road safety, and safe material handling and ergonomics.
“Our ESG commitments propel us to steer our purpose of bringing joy to people’s lives,” says Syngle. In line with its commitment to inclusivity, the company has conducted accessibility assessments at its plants and sales location to identify any gaps in infrastructure.
Research & Development
Asian Paints has developed laboratory simulation techniques to support product validation under different geographical climates and usage practices.
Furthermore, the company has successfully developed test methods for plant quality control that help speed up incoming raw material testing and approval for all businesses including Asian Paints Living.
