We are embedding sustainability at the core of our strategy to create long-term value for all stakeholders. Our commitment spans across environmental stewardship, social responsibility, and strong governance practices. We continue to advance initiatives that reduce our environmental footprint, strengthen our communities, and uphold the highest standards of ethics, transparency, and accountability – building a resilient business ready for the future.
Our sustainability framework anchors our efforts to identify and address material risks and opportunities that impact our stakeholders – including customers, investors, employees, value chain partners, and communities. It provides a clear direction for integrating sustainability into every aspect of our operations.
We follow a top-down approach to embed sustainability values across the organization, ensuring alignment from leadership to frontline operations. This framework drives our continuous evolution towards global best practices and innovative solutions.
We are committed to becoming a sustainability leader within the manufacturing sector. This belief powers our ESG mission and informs our initiatives and investments.
We embedded ESG into our operations through:
Bharat Forge approaches ESG with clarity and intent, recognizing that rating agencies apply distinct methodologies. By aligning our internal practices with these frameworks, we enhanced transparency and elevated the quality of our disclosures. Focused efforts across environmental, social, and governance themes have enabled consistent improvement in external assessments.
To embed ESG into decision-making, a Board-level ESG Committee was constituted to steer the strategy and roadmap. A structured gap analysis, supported by our materiality assessment, identified key focus areas across short- and long-term horizons. Sustainability considerations now inform all major business and investment decisions.
We have published GRI-aligned Sustainability Reports for three consecutive years, with third-party assurance for the latest two editions. Strengthened climate disclosures, supplier assessments, and policy enhancements have further reinforced our commitment to performance-led, stakeholder-aligned ESG practices.
Our ESG performance continues to improve steadily, reflecting our commitment to responsible business practices, transparent disclosures, and strategic action across environmental, social, and governance pillars.
In the S&P Global Corporate Sustainability Assessment, we maintained our score of 46 in 2024, building on significant gains made since 2021 through the formalization of key policies, risk management upgrades, and enhanced supply chain oversight.
Our Sustainalytics ESG Risk Rating improved to 20.2 in 2024, down from 29.4 in 2021, driven by ongoing initiatives in environmental compliance, human capital development, and third-party assured sustainability reporting.
In the MSCI ESG Ratings, we retained our ‘B’ rating in 2024, reflecting our progress on climate-related disclosures, corporate governance, and data transparency compared to a ‘CCC’ rating in 2021.
Our CDP Climate Disclosure Rating moved up to ‘B+’ in 2024, signifying stronger performance in climate risk management, emissions transparency, and progress aligned with the Science Based Targets initiative.
On EcoVadis, we achieved a score of 56 in 2024, continuing our upward trajectory from 36 in 2021. This reflects our efforts to strengthen supplier sustainability, revise codes of conduct, and align procurement with ESG expectations.
*FY2020 is considered as baseline year
*FY2020 is considered as baseline year
