Our ‘Global 2025 Sustainability and Social Impact Strategy,’ at the core of our ESG framework, ensures that we take care of our Environmental and Social considerations in an inclusive way. We leverage innovation, digitization, and modern technology to make a positive impact on the environment and society. In addition, we have a strong governance and stakeholder management approach as critical components of our ESG framework. It is seamlessly woven into our business, reflecting our continued commitment to building environmental and social consciousness into every decision we make.
Our ESG approach starts with a strong board, which comprises diverse members and independent voices who very well understand ESG in our business context. Furthermore, a Board-level ESG & Corporate Social Responsibility (CSR) Committee (ESG and CSR Committee/ECC) is formalized, which provides oversight of ESG issues and risks and ensures alignment with the business strategy. The Committee reviews progress made against ESG-related goals and targets and ensures the appropriate disclosure for stakeholders.
In addition to the ECC, ColgatePalmolive (India) has a core committee that is comprised of leadership team members from Legal, Finance, Human Resources, Supply Chain, Corporate Communications, CSR & Sustainability. This Committee is responsible for providing support and effective supervision of ESG initiatives undertaken by the company. It also facilitates the incorporation of ESG goals into the organization’s overall corporate strategy
Furthermore, we have a dedicated ESG task force consisting of representatives from relevant functions, which facilitates the integration of ESG considerations into our day-to-day operations. The task force conducts thorough analyses of trends, performance, forecasting, and cost-benefit evaluations of ongoing initiatives. This process empowers the ECC to make informed decisions and maximize the value creation potential of the organization.
In the FY 2021-22, we conducted a comprehensive materiality assessment in alignment with the approach defined by GRI standards to identify and prioritize the key sustainability issues at Colgate-Palmolive (India). This assessment incorporates the ESG perspectives shared by our internal and external stakeholders and is inclusive of insights received through investor surveys, peer-reviewed scientific research, industry reports, consumer insights data, and employee as well as supplier feedback.
With the advent of the GRI 2021 standards, our materiality assessment was modified to a 5-step systematic materiality approach to determine positive and negative impacts created across all business activities, operations and external environment on the economy, environment and our stakeholders.
The results are presented in this report, with additional details on each issue and our actions to address them. We will continue to update our assessment as needed.
Gauge a profound understanding of the company’s activities, business relationships, sustainability context, laws, regulations as well as the internal and external stakeholders.
Identify actual and potential impacts on the economy, environment, people (including human rights) across the products (oral health), activities (manufacturing, sales, community development) and relationships (suppliers, logistics, distributors).
Evaluate significance of identified positive and negative impacts through a risk assessment process. The actual and potential impacts undergo a quantitative and qualitative analysis where the severity and likelihood of the impact is assessed to determine significance.
The significance of identified impacts are assessed and prioritized. Using threshold set by the leadership team. These impacts are grouped together into diverse material topics.
Gauge a profound understanding of the company’s activities, business relationships, sustainability context, laws, regulations as well as the internal and external stakeholders.
Environment Social Governance
