- Dow Jones Sustainability Index (DJSI) score places UPL as the highest-performing agrochemical company globally and in the top 1% of chemical companies worldwide
- Secured a score of 76 in the Dow Jones Sustainability Index
Mumbai, 04 Dec 2023: UPL Ltd., a global provider of sustainable agricultural solutions, has achieved a score of 76 in the Dow Jones Sustainability Index (DJSI) powered by S&P Global Switzerland, outperforming the industry average of 24 and placing the company as the highest performing agrochemical company globally and in the top 1% of chemical companies worldwide.
This achievement demonstrates UPL’s continued commitment to sustainability and harnessing the decarbonization potential of the agricultural industry. This year, the UN initiated SBTi has validated and approved UPL’s Science Based Targets. Over the last 3 years, UPL has reduced its carbon emissions by 21%, its water consumption by 40%, and its waste levels by 57%. UPL has also partnered with renewable energy companies to establish hybrid solar-wind energy power plants and increase its renewable energy usage to 30%.
Jai Shroff, Chairman and Group CEO of UPL Group, said, “As we advance our mission to Reimagining Sustainability for farmers and food systems, we are taking bold steps to reduce our environmental impact, strengthen our social responsibility initiatives, and improve our governance practices – and we are proud that DJSI has recognized this. We remain focused on breaking new ground for our industry and look forward to progressing our sustainability initiatives as we get closer to our 2040 carbon-neutral commitment.”
Adding more to the sustainability initiatives is UPL’s Shashwat Mithaas – Sustainable Sugar Program that exemplifies the company’s steadfast dedication to sustainability. The project, signifies a ground-breaking collaboration between UPL and sugar mills throughout India, aiming to provide sustainable solutions for sugarcane farmers. This pioneering initiative addresses various challenges faced by sugarcane farmers, including poor yields, rising costs, labour shortage and water scarcity.
Recognizing the water-intensive and resource-consuming nature of sugar cultivation, UPL seeks to transform the industry by implementing the Pronutiva initiative, which combines protection and nutrition. This initiative also incorporates the use of Zeba, a patented smart technology derived from natural starch that is completely biodegradable. In 2021, 135,000 farmers covering 2 Lakh acres adopted Zeba, conserving 58 billion litres of water, reducing fertilizer use by 25%, and cutting costs by Rs. 1,500 per acre on electricity and Rs. 1,000 per acre on labour. In total, Zeba has earned the average farmer an additional income of Rs. 22,000 per hectare on an additional spend of less than Rs. 5,000.
Additionally, ProNutiva’s implementation has boosted groundnut crop yields, resulting in a threefold increase in Gujarat’s groundnut production. Beyond its products, UPL also provides integrated agricultural services giving farmers access to IPL kits, soil testing, weather, crop advisory, and mechanization services, empowering them to practice sustainable precision farming.
The DJSI is a prestigious benchmark that identifies and showcases the top sustainability leaders globally. It is curated through the Corporate Sustainability Assessment (CSA) conducted by S&P Global, representing the top 10% of the largest 2,500 companies within the S&P Global BMI. Companies featured in the DJSI are selected based on rigorous evaluations encompassing long-term