ECU Worldwide, Allcargo Logistics’ wholly-owned global subsidiary and leader in LCL consolidation announces release of its Environmental, Social, and Governance (ESG) FY 2022-23 report with the theme ‘Navigating the Green Horizon.’ The report highlights ECU Worldwide’s commitment to achieve carbon neutrality by 2040, the company’s ESG goals and commitments which include energy and emissions, Occupational Health and Safety (OHS), Diversity, Equity, and Inclusion (DEI), community development, labour practices and human rights, cyber security, and corporate governance.
Commenting on the launch of the ESG report, Shashi Kiran Shetty, Founder & Chairman, Allcargo Group said, “I am delighted to present our FY 2022-23 ESG report. With the launch of the report, we have set out on a mission to instill sustainable practices in our operations, aiming to minimize our ecological & social impact while delivering seamless logistics solutions. We at ECU Worldwide, are committed to moving further towards a sustainable and resilient future with our ESG journey. Being a global logistics conglomerate with presence in 180 countries, we recognize our responsibility to transform operations and actively contribute to reducing emissions. In line with the United Nations’ Sustainable Development Goals (UNSDGs), Global Reporting Initiative (GRI) 2021 Standards, we have set out to achieve carbon neutrality and adopt 100% renewable energy at all owned facilities by 2040. We firmly believe that collective action will help in solving challenges and achieving a sustainable supply chain, as we look to collaborate with our customers, strategic partners and suppliers.”
ESG Performance Highlights:
• Energy Consumption: 18,830 GJ
• Total GHG Emissions: 827,936 tCO2e
• Tree Plantations up until FY 2022-23: 860,000
• Energy Consumption through Solar Energy: 77 GJ
• Women on the Workforce: 50%
• Cases of Corruption and Bribery: Zero
Key highlights:
Energy & Emissions: ECU Worldwide aims to achieve 100% transition to renewable energy sources for electricity consumption at all owned facilities by 2040.
ECU Worldwide will prioritize carriers and road freight partners who are using or have set plans to use alternate fuels including but not limited to green or blue ammonia, hydrogen fuel, biofuels, and so on for their business operations. ECU prefers to associate with carriers equipped with environmental technologies and complying to standards such as International Marine Organization (IMOs), Energy Efficiency Design Index (EEDI) and the Ballast Water Management Convention (BWMC) to ensure responsible shipping.
Given the effort required to transition towards sustainable logistics, the company aims to promote sustainability amongst their top suppliers who may be under-equipped for such a transition. Further, the company is exploring several possibilities like signing of Power Purchase Agreements (PPAs) for sourcing renewable energy wherever available.
Occupational Health and Safety (OHS):
ECU Worldwide has developed a robust Health and Safety management system with monitoring plan, applying best safety practices and processes with high standards, to ensure the effective implementation of the Health and Safety policy. The safety system encompasses hazard identification and risk assessment and on-site emergency plan at its owned facilities and operations.
Community development:
The core philosophy of the activities under Corporate Social Responsibility (CSR) aim to create a positive social and economic impact for the community. All the outreach programs are centred around six focus areas: Promoting wellbeing and hygiene, empowering aspirations, providing disaster relief, fostering rising stars in sports, protecting the environment and unleashing ambitions through education. ECU Worldwide has impacted 27,389 beneficiaries through their initiatives towards well-being and hygiene, whereas under the environment protection initiatives, the company has impacted 2,243 beneficiaries.
Diversity, Equity, and Inclusion (DEI):
The company is working towards sustaining 50% gender diversity in junior and middle management and attaining 40% gender diversity in the top management by 2040. ECU Worldwide has a women workforce of over 50%, leading the way in gender diversity in logistics. Through the group-wide RESTART Back to Work program, the company has made it easier for women who have taken a break from their careers to return to work. The company is committed to creating a gender-positive workplace in the logistics sphere.
Labour practices and Human Rights:
ECU Worldwide is committed to upholding and promoting human rights across its operations and value chain. Its zero-tolerance policy ensures that there is no room for human rights violations or discrimination. To ensure compliance, the company has implemented stringent measures to prevent child labour and forced labour within the Company and across its value chain. The company has established a comprehensive Human Rights policy in the reporting period that reflects the commitment to the protection and promotion of human rights within its sphere of influence. The company ensures the wellbeing of its employees using a ‘Human Rights’ checklist, helping the company internally track various aspects to identify and mitigate related risks.
Cyber security:
Information Security Management Systems (ISMS) of ECU Worldwide is implemented to protect critical information assets and IT Infrastructure against ever evolving threat landscape on cybersecurity and is aligned with NIST Cybersecurity framework and certified to ISO 27001:2013. The business continuity management practices have been instrumental in ensuring the uninterrupted functioning and success of its operations. The company recognizes the criticality of maintaining its business functions, even in the face of unforeseen events or disasters, and has implemented a robust framework to mitigate risks and ensure the continuity of its services.
Corporate governance: As ECU Worldwide provides services to a diverse set of stakeholders across continents, the company is committed to following the highest standards of corporate governance. It strives to protect the rights of its shareholders and to provide them with timely, accurate, and transparent information about the company. ECU Worldwide follows global best practices and is constantly evolving its corporate governance practices.
