ITC Paperboards and Specialty Papers Division - GreenCo rating system gains wider acceptance

GreenCo rating system gains wider acceptance

Apr 16 2013

The GreenCo rating System has gathered momentum, with six companies getting rated thus far and more than 50 firms on course to being assessed.

While the pilot project had initially planned to cover 21 companies, overall about 100 companies are set to be taken up for assessment for energy conservation initiatives by next year.

About 450 companies had joined the sustainable growth initiative.

The Bangalore International Airport Limited, managed by the GVK group, ITC Limited Bhadrachalam paper unit, ACC Cement, JK Tyre and Vasavadatta Cement are among the ones that have gone through the rating process.

Conservation measures

The GreenCo rating system was initiated by the Confederation of India Industry Green Business Centre to rate companies on the way they handle the environment, in terms of practising energy-saving methods, water conservation, improvement of processes and creating new sustainable resources.

K.S.Venkatagiri, Principal Counsellor at CII Green Business Centre, told Business Line that more than 20 companies which signed up for the initiative are likely to be assessed by the year end.

And more companies in the manufacturing and services sectors are in the process of joining the rating process. “We expect to rate more than 100 companies by next year,” he said.

Some well-known corporate entities, such as Godrej, Wipro, Dr Reddy’s Labs, ACC and Jindal, have enlisted to be part of the rating system.

Companies in certain energy-intensive sectors, such as steel, cement and paper, are among the ones that are part of the Performance Achieve and Trade (PAT) initiative.

The GreenCo rating will help them meet their goals and move towards the right processes, Venkatagiri said.

The rating system seeks to ensure that these companies also develop alternative energy sources. Significantly, the rating system could be for one unit of a company and gradually cover various units of the entire company.

This is a big process. So, when you have a diversified company such as , say, ITC or ACC, with over 15 plants, the process is more complex, he said.

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