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Sustainability

Policy on Lifecycle Sustainability

Philosophy

Shikhar strives to incorporate sustainability concepts into as many phases of the product or service life-cycle as possible, including raw material sourcing, manufacturing, delivery of service, transportation of raw materials and finished products, and customer disposal.

Policies:

  • To work toward healthy and optimal resource usage over the life-cycle of its goods and services, including resource recycling wherever possible;
  • To ensure that its products and services comply with all relevant laws and regulations.
  • To ensure that all products and services are procured, processed, and distributed through a framework that integrates the company’s policies on labor standards, human rights, ethics, occupational health and safety, and the environment;
  • To work toward sourcing significant raw materials, goods, and services in such a way that the balance between social, economic, and environmental impacts is continually improved;
  • To work toward building capacity such that all supply chain members, including third-party manufacturers (TPMs), service providers, including transporters and major raw material suppliers, are aware of their positions and obligations in terms of sustainability;
  • To increase customer awareness of responsible product and packaging disposal;
  • To continue to factor in important social and environmental issues throughout the product/service creation process; to continue to recognize and value the interests of people who may be owners of traditional information and other types of intellectual property, where applicable.

Policy on Stakeholder Engagement

Philosophy

Shikhar Organization claims that successful stakeholder participation is critical to achieving its sustainable growth sustainability target. As a result, Shikhar bases its stakeholder involvement on the following principles:

  • Materiality entails prioritizing consideration of the organization’s and its stakeholders’ defined economic, environmental, and social impacts.
  • Completeness – comprehending the core issues and desires of the stakeholders.
  • Responsiveness – responding to issues and complaints in a logical and timely manner.

Policies:

  • To regularly and routinely recognize and communicate with all of its stakeholders;
  • To comprehend and prioritize the interests of stakeholders, especially those who are poor, vulnerable, and marginalized; and
  • To work toward resolving these concerns in a fair and open manner.

Implementation

  • Shikhar Units have adequate structures and processes in place to ensure compliance with the Policy and regulatory requirements, including grievance resolution. The Divisional / SBU Chief Executives will ensure that this Policy is implemented by members of the respective Management Committees.
  • The Corporate Management Committee’s Sustainability Compliance Review Committee (SCRC) will track and assess compliance with the Policy on a regular basis (CMC). Every fifth, the CMC will look over the SCRC’s paper. The implementation of this Policy will be overseen by the Board’s CSR & Sustainability Committee.

Policy on Responsible Advocacy

Philosophy

Shikhar believes that representing and interacting with authorities on issues relating to the various sectors in which it operates is important. The principles of loyalty, honesty, openness, and the need to balance the interests of various stakeholders direct Shikhar’s interactions with the relevant authorities.

Policies

  • Ensure that its advocacy stance is compatible with its principles and philosophy;
  • Collaborate with business groups involved in policy advocacy;
  • Ensure that policy advocacy is performed ethically.

Implementation

  • Shikhar Units have adequate structures and processes in place to ensure compliance with the Policy and regulatory requirements, including grievance resolution. The Divisional / SBU Chief Executives will ensure that this Policy is implemented by members of the respective Management Committees.
  • The Corporate Management Committee’s Sustainability Compliance Review Committee (SCRC) will track and assess compliance with the Policy on a regular basis (CMC). Every fifth, the CMC will look over the SCRC’s paper. The implementation of this Policy will be overseen by the Board’s CSR & Sustainability Committee.

Policy on Product Responsibility

Philosophy

Shikhar is dedicated to delivering goods and services that are of the highest quality and have the best user experience possible. Shikhar strives to use sustainably derived ingredients in products and globally agreed on manufacturing practices in related businesses, with a portfolio of businesses that use Agri/farm products that is constantly increasing.

Policies

  • To work toward a sustainable consumption of natural resources while producing goods and services, as well as building social and environmental capital through initiatives such as social, farm, and agro-forestry, integrated watershed growth, and others, in order to provide an inclusive and secure future for its stakeholders;
  • To comply with applicable legislation and voluntary codes concerning marketing communications, including the advertisement, promotion, and sponsorship;
  • To allow freedom of choice in a competitive environment while designing, promoting, and selling its products and services;
  • To allow freedom of choice in a competitive environment while designing, promoting, and selling its products and services;
  • To provide effective channels for customer/consumer input in order to enhance its goods and services on a continuous basis.

Implementation

  • Shikhar Units have adequate structures and processes in place to ensure compliance with the Policy and regulatory requirements, including grievance processing. The Divisional/SBU Chief Executives will ensure that this Policy is implemented by members of the respective Management Committees.
  • The Corporate Management Committee’s Sustainability Compliance Review Committee (SCRC) will track and assess compliance with the Policy on a regular basis (CMC). Every fifth, the CMC will look over the SCRC’s paper. The implementation of this Policy will be overseen by the Board’s CSR & Sustainability Committee.

Policy on Responsible Sourcing

Philosophy

Shikhar strives to incorporate sustainability into its product and service procurement processes through its diverse company portfolio.

Policies

  • To cooperate with supply chain members who adhere to relevant laws and regulations governing labor standards, human rights, bribery and corruption, occupational health and safety, and the environment;
  • To promote resource management in the supply chain; and
  • To assist supply chain members in becoming more sustainable.

Implementation

  • Shikhar Units have adequate structures and processes in place to ensure compliance with the Policy and regulatory requirements, including grievance resolution. The Divisional / SBU Chief Executives will ensure that this Policy is implemented by members of the respective Management Committees.
  • The Corporate Management Committee’s Sustainability Compliance Review Committee (SCRC) will track and assess compliance with the Policy on a regular basis (CMC). Every fifth, the CMC will look over the SCRC’s paper. The implementation of this Policy will be overseen by the Board’s CSR & Sustainability Committee.

Policy on Freedom of Association

Philosophy

Shikhar strives to incorporate sustainability into its product and service procurement processes through its diverse company portfolio.

Policies

  • To cooperate with supply chain members who adhere to relevant laws and regulations governing labor standards, human rights, bribery and corruption, occupational health and safety, and the environment;
  • To promote resource management in the supply chain; and
  • To assist supply chain members in becoming more sustainable.

Implementation

  • Shikhar Units have adequate structures and processes in place to ensure compliance with the Policy and regulatory requirements, including grievance resolution. The Divisional / SBU Chief Executives will ensure that this Policy is implemented by members of the respective Management Committees.
  • The Corporate Management Committee’s Sustainability Compliance Review Committee (SCRC) will track and assess compliance with the Policy on a regular basis (CMC). Every fifth, the CMC will look over the SCRC’s paper. The implementation of this Policy will be overseen by the Board’s CSR & Sustainability Committee.

Policy on Freedom of Association

Philosophy

Shikhar believes that all employees are essential stakeholders in the business and that fostering a culture of mutual confidence, respect, interdependence, and constructive involvement is crucial. This method aids in the creation, strengthening, and maintenance of harmonious employee relationships within the organization.

Policies:

  • To ensure that workers are not discriminated against for practicing this right in a lawful and compatible manner with Shikhar’s core values.
  • To uphold the integrity of the person and the freedom of employees to lawfully organize themselves into interest groups, independent of management control.

Implementation

  • Shikhar Units have adequate structures and processes in place to ensure compliance with the Policy and regulatory requirements, including grievance resolution. The Divisional / SBU Chief Executives will ensure that this Policy is implemented by members of the respective Management Committees.
  • The Corporate Management Committee’s Sustainability Compliance Review Committee (SCRC) will track and assess compliance with the Policy on a regular basis (CMC). Every fifth, the CMC will look over the SCRC’s paper. The implementation of this Policy will be overseen by the Board’s CSR & Sustainability Committee.

Policy on Diverse & Equal Opportunities

Philosophy

Shikhar argues that diversity in the workplace fosters employee engagement, alignment, creativity, and high efficiency. This is accomplished by a policy that promotes diversity and non-discrimination within the organization.

Policies

  • To recruit and promote workers based on their qualifications, success, and ability;
  • To provide a work atmosphere free of any form of discrimination, including but not limited to sexual harassment;
  • To ensure that caste, faith, disability, gender, sexual orientation, ethnicity, color, ancestry, marital status, or association with a national, religious, or union organization or majority/minority party do not lead to discrimination in pay, training, or employee benefits.

Implementation

  • Shikhar Units have adequate structures and processes in place to ensure compliance with the Policy and regulatory requirements, including grievance resolution. The Divisional / SBU Chief Executives will ensure that this Policy is implemented by members of the respective Management Committees.
  • The Corporate Management Committee’s Sustainability Compliance Review Committee (SCRC) will track and assess compliance with the Policy on a regular basis (CMC). Every fifth, the CMC will look over the SCRC’s paper. The implementation of this Policy will be overseen by the Board’s CSR & Sustainability Committee.

Policy on Prohibition of Child Labour & Prevention of Forced Labour at the Workplace

Philosophy

Shikhar advocates for a campaign of “No Child Labor and No Forced Labor.”

Policies:

  • To ensure that no one under the age of eighteen is employed in the workplace;
  • To prohibit the use of forced or compulsory labor in all of its Units;
  • To ensure that no employee is forced to work against his or her will, or is forced to work as bonded/forced labor, or is subjected to corporal punishment or coercion of any kind in the workplace;
  • To avoid doing business with retailers and suppliers who use child and forced labor in their operations.

Implementation

  • Shikhar Units have adequate structures and processes in place to ensure compliance with the Policy and regulatory requirements, including grievance resolution. The Divisional / SBU Chief Executives will ensure that this Policy is implemented by members of the respective Management Committees.
  • The Corporate Management Committee’s Sustainability Compliance Review Committee (SCRC) will track and assess compliance with the Policy on a regular basis (CMC). Every fifth, the CMC will look over the SCRC’s paper. The implementation of this Policy will be overseen by the Board’s CSR & Sustainability Committee.

Policy on Human Rights Consideration of Stakeholders Beyond the Workplace

Philosophy

Shikhar sources its technologies, tools, inputs, and finished goods from reputable foreign and Indian manufacturers and suppliers, resulting in superior quality and value. Shikhar expects its business partners to establish a human rights-compliant work environment at their place of business. Shikhar believes that its vendors and suppliers should develop mechanisms for tracking and monitoring human rights progress.

Policies

  • Promote respect for human rights in local communities, with a special emphasis on disadvantaged and marginalized groups;
  • Discourage human rights violations by such parties;
  • Encourage the creation of a structured grievance resolution process for the affected stakeholders.

Implementation

  • Shikhar Units have adequate structures and processes in place to ensure compliance with the Policy and regulatory requirements, including grievance resolution. The Divisional / SBU Chief Executives will ensure that this Policy is implemented by members of the respective Management Committees.
  • The Corporate Management Committee’s Sustainability Compliance Review Committee (SCRC) will track and assess compliance with the Policy on a regular basis (CMC). Every fifth, the CMC will look over the SCRC’s paper. The implementation of this Policy will be overseen by the Board’s CSR & Sustainability Committee.

Policy on Environment, Health and Safety

Philosophy

Shikhar is dedicated to operating in an environmentally responsible manner and ensuring a safe and stable workplace for its employees.

Policies

  • To contribute to sustainable development by developing and enforcing environmental, health, and safety requirements that comply with relevant laws, regulations, and codes of practice;
  • To address environmental, occupational health, and safety aspects in planning and decision-making;
  • To provide adequate training to employees and service providers’ employees on EHS and implement best practices;
  • To instill a sense of responsibility in any employee, including service providers on the Company’s premises, for their own personal safety and the safety of their coworkers;
  • To ensure the implementation of resource-effective and cleaner production methods; and
  • To continue to increase the contribution of renewable energy sources to meeting overall energy demand.

Implementation

  • Shikhar Units have adequate structures and procedures in place to ensure compliance with the Policy and regulatory requirements, including grievance resolution. The Divisional / SBU Chief Executives will ensure that this Policy is implemented by members of the respective Management Committees.
  • The Corporate Management Committee’s Sustainability Compliance Review Committee (SCRC) will track and assess compliance with the Policy on a regular basis (CMC). Every fifth, the CMC will look over the SCRC’s paper. The implementation of this Policy will be overseen by the Board’s CSR & Sustainability Committee.