Cipla makes an entry in S&P Dow Jones Sustainability Index for the Emerging Markets
Unarguably the gold standard for corporate sustainability, the S&P Dow Jones Sustainability Index/DJSI is highly regarded by global investors and financial analysts looking at ESG based investments.
Cipla Limited, a leading pharmaceutical company announced last evening that it has made an entry in the S&P Dow Jones Sustainability Index after getting selected in the DJSI for the Emerging Markets for 2021. This index, for the year 2021, consists of 108 companies from 12 emerging economies, including China, Brazil, South Africa and Taiwan.
Unarguably the gold standard for corporate sustainability, the DJSI is highly regarded by global investors and financial analysts looking at ESG based investments. The index follows a best-in-class approach, by assessing sustainability leaders from each sector on both global as well as regional levels.
Under the selection process, approximately 4000 of the world’s largest and listed companies had to go through a meticulous assessment on Economic & Governance, Social & Environmental parameters, under which, the companies were evaluated for their corporate governance, ethics, risk management, climate change mitigation, stakeholder engagement, access to medicine, quality, corporate social responsibility and human resource practices.
In this assessment, as of 12 November 2021, Cipla performed in the top decile in the pharmaceutical industry and achieved a ranking of 93 percentile. It did so by significantly enhancing its performance in parameters such as strategy to improve access to drugs or products, human capital development, tax strategy and climate strategy compared to last year.
The pharma major aims to reach a non-fossil fuel share of 40% by 2030. For this, it made investments in a group captive open access solar power project of 30 MW capacity in January 2021. This contributed to its decarbonizing goals.
At 1.11 pm, the share price of Cipla Ltd was trading at Rs 932.35, which was a decline of 0.61% from the previous day’s closing price of Rs 938.05 on BSE.
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