Mumbai, 01st April 2024: Welspun Corp, a flagship company of Welspun World, a conglomerate with Complete Pipe solutions and Building Material business verticals, and one of the largest manufacturers of large diameter line pipes globally, is now ranked amongst the top 5 percentile of global companies in the Steel sector in S&P Global’s Corporate Sustainability Assessment.
Welspun Corp achieved a total ESG score of 66 across the parameters, a 16 percent increase from its previous score of 57.
Welspun Corp is now ranked in the top 1 percentile in the steel sector globally on Governance scores. The company has made significant improvement in both Environment and Social scores with an increase of 20 percent over previous figures, thanks to its commitments and initiatives in these areas in the past year. In this context, it may also be noted that earlier this year, Welspun Corp achieved the highest ESG performance score (59) across the Basic Industry: Iron & Steel products classification by CRISIL ratings.
The company attributes these accolades to its environmental commitments towards achieving carbon & water neutrality by 2040, a strong focus on Social and Governance aspects, and its transparent disclosures.
“Our enhanced scores in this assessment are a testimony to our commitment and continuous efforts to being a responsible organization. I am happy to see a consistent improvement in our rankings among the global steel companies during the last two years. Sustainability is a part of our core mission towards contributing to a better, greener, and future-proof world. We are aligned with UN SDGs through various social initiatives and programs. We are also committed to maintaining our strong focus on governance aspects,” says Vipul Mathur, MD & CEO, Welspun Corp Ltd.
“In today’s rapidly evolving global landscape, sustainability is a competitive advantage that will set us apart as leaders in the industry we operate in. Our objective is to build an organization that generates a net positive influence on society and the environment,” he further added.
The S&P Global CSA is an annual evaluation of companies’ sustainability practices. It covers over 10,000 companies from around the world. The CSA focuses on sustainability criteria that are both industry-specific and financially material and has been doing so since 1999.