Apollo Pipes Limited (APL) Achieves 62nd Percentile in ESG Rankings

On April 30, 2024, Apollo Pipes Limited (APL) informed the stock exchanges that the company stands at the 62nd percentile in the Building Products industry on ESG rankings in S&P Global

Corporate Sustainability Assessment in its first participation. The assessment results came in the last week of March 2024, where the company scored 28.

The company stated that it takes pride in its groundbreaking achievement of receiving its first-ever Environmental, Social, and Governance (ESG) rating, solidifying its commitment to sustainable practices. This thoroughly evaluates APL’s efforts to align its business strategies with global sustainability goals. It also demonstrates its visionary approach to addressing environmental challenges, fostering social inclusion, and upholding strong governance standards.

Apollo Pipes Limited has recognised the significance of sustainability and corporate responsibility in driving long-term value creation. From implementing innovative eco-friendly technologies to promoting a diverse and inclusive workplace culture, the company has implanted sustainability principles into its core business practices. The company added that as it enters this transformative journey, it remains committed to sustainability performance and progress towards its goals.

The ESG score reflects the measures Apollo Pipes Limited took to integrate ESG principles into the company’s business strategies and operations. In the coming year, Apollo Pipes Limited plans to continue in its ESG journey by calculating Scope 3 emissions from its operations to assess climate-related risks and opportunities aligned with the recommendations set by the Taskforce for Climate-related Financial Disclosures (TCFD).

The S&P Global Corporate Sustainability Assessment (CSA) assesses more than 8,000 companies worldwide, representing about 90% of the global market capitalisation on material environmental, social and governance criteria. The assessment analyses up to 30 focus areas across sub-initiatives. It uses question-level scores covering 130 sustainability topics and an additional 1,000 underlying data points per company to arrive at a composite ESG Score.

About Apollo Pipes Limited

Apollo Pipes manufactures and trades various types of pipes, fittings, PVC taps, water storage tanks, etc. It is one of the leading piping solution-providing companies in the country. Apollo Pipes caters its products to a wide range of industries, such as Water Management, Agriculture, Infrastructure, Construction, etc.

On April 30, 2024, the share price of Apollo Pipes Limited opened at ₹661.00, touching the day’s high at ₹666.70, as of 1:02 PM on the NSE.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.