Cipla to be added to Dow Jones Sustainability Index for emerging markets
Premium- The emerging markets index for the year comprises of 108 companies from 12 emerging economies.
Domestic pharma major has announced that it has been selected in the S&P Dow Jones Sustainability Index (DJSI) for the Emerging Markets for 2021. The DJSI family of indices is operated by one of the world's leading index providers S&P Dow Jones. The emerging markets Index for the year comprises of 108 companies from 12 emerging economies.
Shares of Cipla had closed 2.5% higher at ₹938 in Monday's trade.
The Dow Jones Sustainability Emerging Markets Index comprises emerging-market sustainability leaders as identified by S&P Global through the Corporate Sustainability Assessment (CSA). It aims to represent the top 10% of the largest 800 companies in 20 emerging markets based on long-term economic, environmental and social criteria.
Commenting on the ranking, Umang Vohra (MD and Global CEO, Cipla Limited) said, “The selection into S&P Dow Jones Sustainability Index Emerging Markets is a testament to our commitment towards sustainability, which is at the core of our DNA. We are delighted to be recognized for our efforts in climate action and social impact, coupled with strong corporate governance. This recognition strengthens our belief in investing in greener technology and processes, creating social impact for communities and serving the markets to create for healthier people and a healthier planet."
With the aim of reaching non-fossil fuel share of 40% by 2030, in January 2021, Cipla decided to invest in group captive open access solar power project of 30 MW capacity, spread across 115 acres in Maharashtra. This has contributed to Cipla’s decarbonizing goals, with the company now sourcing about 25% of its energy from renewable sources in the current year.
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