Driving Sustainable Changes, Transforming Lives
The corporate world is more vigilant for their sustainable objectivity now than earlier, they are embracing the policies that can benefit the organisation without harming nature and people. In taking such initiatives, Marico won India’s Most Sustainable Supply Chain Initiative in BW India’s Most Sustainable Supply Chain Initiative.
As an organisation dedicated to the sustainable aim, Marico believes that the mutual and inclusive growth of value-chain partners is critical to the overall purpose of creating shared value.
Through their regular interventions and continual efforts towards sustainably transforming the value chain, they have managed a range of ESG risks, attuned to consumer preference, demonstrated better compliance, and improved their reputation.
Among all of their major sustainability initiatives, responsible sourcing framework, ‘SAMYUT’ really stands out which means coming together to achieve, and endorse the intent of sourcing material and services through suppliers and business associates, who share our sustainability vision of upholding ethical standards, protecting the environment, and empowering society through proper governance.
SAMYUT aligns with the standards and goals set by UN-SDGs, and functions in three fundamental levels of Educate, Evaluate and Evolve.
As per data, with multiple initiatives running throughout the year, Marico was able to reduce 12 per cent emissions intensity between FY21-23.
The company has rolled out some guidelines for their manufacturing partner and depot operator and in order to continue their associations with Marico they have to qualify and follow those criteria.
Technology is an accelerator in achieving the set targets, and in terms of sustainability, technology plays a pivotal role for organisations. Marico harnesses the power of technology and digital disruptions to identify, scale and support social entrepreneurial ventures that have the potential to accelerate sustainable development within the country. Along with experts from a number of sectors, Marico reimagines key stakeholder concerns as opportunities to drive change and help improve lives and livelihoods.
Marico has experimented with multiple new initiatives and approaches that were not attempted by any other organisation. One of them is ‘the sustainable coconut programme in which 100+ agronomists were deployed who capacitate farmers on sustainable and scientifically proven agricultural techniques, the programme boosts the climatic resilience of coconut cultivation in the country.
According to the statistics, till date, 3,11,000 acres of coconut farms comprising over 83,000 farmers have been enrolled in the programme till date with an annual productivity improvement of 16 per cent that implies the increased income of the small-scale farmers.
Marico defines this simply as creating economic value in a manner that also creates value for the society, in which one lives. By re-imagining products, innovating through the value chain, addressing the needs of the community, and empowering it, the company’s aim is not only to create value but to multiply it many times over.
