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Reporting on Sustainability is one of the communication channels that APAR uses to inform its stakeholders about its sustainability ambitions, initiatives and progress on various parameters.
While we have been addressing ESG aspects at APAR for many years, this is the third year we have compiled a comprehensive summary that outlines our progress and opportunities.
FY 2023-24
(67 pages)
FY 2022-23
(93 pages)
FY 2021-22
(17 pages)
(89 pages)
FY 2020-21
(66 pages)
Task Force on Climate-Related Financial Disclosures (TCFD) Report
At APAR we believe in accurate and timely disclosure of current and past operating and financial risk management. This report is a testament to our strong corporate governance and risk management practices.
Prepared in accordance to the recommendations of the TCFD
Our Climate Targets
Our corporate mission is to design & manufacture Building Blocks for Energy Infrastructure, Transportation & Telecommunication Sectors that contribute meaningfully to make this world a more energy efficient, environmentally sustainable and safer place. Some of the cables & conductors that we supply globally are most energy efficient, have longer usage life, have less emission losses and are environmentally friendly.
In line with our mission statement, our Climate Transition Action Plan sets out a range of targets and actions designed to deliver an emissions reduction pathway consistent with the 1.5° ambition of the Paris Agreement. Our primary focus in the years to come will be on emissions reduction, not offsetting.
Accordingly, we have set the following targets for our emissions reduction initiatives:
a. Long-Term Targets
| 1) | Work progressively towards achieving Net-Zero GHG emissions. Reduce Scope-1 and Scope-2 absolute GHG emissions by 50% by 2040 (base year: 2025). | Scope-1 & Scope-2 emissions: Base Year, FY 2024-25: 161,808 tCO2e Target, FY 2039-40: 80,904 tCO2e |
| 2) | Reduce Scope-3 upstream GHG emissions (category 1) by 50% by 2045 (base year: 2025). | Scope-3, Cat-1 emissions: Base Year, FY 2024-25: 46,67,283 tCO2e Target, FY 2044-45: 23,33,642 tCO2e |
| 3) | Work progressively towards achieving 100% RE (Renewable Energy). Increase the share of Renewable Energy in overall electricity consumption to 50% by 2035. | RE% in overall Electricity mix: Target, FY 2034-35: 50% RE in overall electricity mix |
We intend to gradually move towards net-zero in line with our targets.
b. Short-Term Targets
We are on a growth mode and our revenue growth for the next 5 years will have a CAGR of approx. 15% as per our business plan and the growth in power transmission line requirements primarily for catering to the high transmission and distribution demand of renewable energy globally. As such, keeping in mind the business growth, we have based our near-term targets on emissions intensities.
APAR has set a near-term
emissions reduction target to reduce the GHG emissions
intensity by 50% for scope-1 and scope 2. (for cable &
conductor businesses) by
2030 against a 2020-21 baseline.
* Scope-1 & Scope-2 GHG Emissions Intensities for Cables & Conductors businesses
While our long-term climate goals are based on absolute GHG reduction in alignment with global net-zero ambitions, we have opted for intensity-based short-term targets owing to significant increase in production, and consequent energy requirements. Renewable Energy availability has a high lead time and the central grid infrastructure for inter-state transmission of renewable energy is still evolving. Hence, while the intensity levels will decrease in the next five years owing to operational efficiency and incremental sourcing of intra-state renewable energy, the real reduction in absolute emissions will take place once the inter-sate transmission infrastructure for renewable energy is stabilized and battery technology is commercially viable.
As the world’s largest aluminium and alloy conductor manufacturer, APAR is committed to step-up and deliver best quality product with excellent customer services. With the growing global environmental issues, we have taken an initiative to address carbon emissions of our conductors. Towards this, we have successfully published “Environment Product Declarations” on six Conductor products and one Cable product.
An Environmental Product Declaration, or EPD, is a document which transparently communicates the carbon emission through entire life cycle of a product. The report covers carbon footprint computation, verification, validation and certification over its lifetime by EPD Hub as per EN 15804+A2 & ISO 14025 / ISO 21930 standards.
FY 2022-23
(3 Pages)
FY 2021-22
(13 Pages)
(13 Pages)
(13 Pages)
(13 Pages)
(12 Pages)
(12 Pages)
(12 Pages)
(12 Pages)
(12 Pages)
(12 Pages)
(128 Pages)
(3 Pages)
FY 2024-25
FY 2023-24
FY 2023-24
Scope 3 (3 Pages)
FY 2023-24 (62 Pages)
Scope 1 & 2 (4 Pages)
FY 2022-23
(3 Pages)
FY 2021-22
(3 Pages)
(128 Pages)
(12 Pages)