2021 Capri Global Capital Hurun India Impact 50: In search of India’s Most Sustainable Privately Held Companies

2021 Capri Global Capital Hurun India Impact 50: In search of India’s Most Sustainable Privately Held Companies

 ~ The report ranks the 50 Indian companies based on their alignment with the United Nations’ 17 SDGs (Sustainable Development Goals) ~

 Mumbai, 18 April 2022 – Today, Capri Global Capital and Hurun India debuted 2021 Capri Global Capital Hurun India Impact 50, a list of the top 50 companies headquartered in India, ranked based on their alignment with the United Nations’ 17 SDGs (Sustainable Development Goals). Hurun Research started with the 2021 Hurun India 500 most valuable companies, producing a scorecard using publicly available data, including annual financial reports, ESG, CSR, sustainability reports and media. A five-member advisory panel consisting of subject matter experts ranging from professionals to academicians helped in shaping the scoring methodology.

Key Highlights

• India’s most sustainable company: With a cumulative sustainability score of 47, Grasim Industries ranked number one in the 2021 Capri Global Capital Hurun India Impact 50. Last year, Grasim Industries contributed towards 17 sustainable development goals. Of which, four goals have measurable time-bound targets. Tech Mahindra ranked second with a sustainability score of 46, followed by Tata Power Company and Wipro.
• Not all Sustainable Development Goals pursued equally: Only 14 companies featured in 2021 Capri Global Capital Hurun India Impact 50 reported their sustainability goals against all 17 UN SDG pillars. The SDGs most prioritized by companies featured in 2021 Capri Global Capital Hurun India Impact 50 are Climate Action (SDG13), Responsible Consumption and Production (SDG12). Life below water (SDG14) is the least prioritized UN SDG goal by Indian companies; only Adani Ports & Special Economic Zone have a documented measurable goal against the same.
• Measurable Goals: In the 2021 Capri Global Capital Hurun India Impact 50, the highest measured pillar was Climate Action with 37 companies measuring it. This was followed by the Responsible Consumption and Production pillar with 31 companies measuring it. With eight goals, Hindustan Unilever has the highest number of measurable Sustainable Development Goals with time-bound targets, followed by ITC, and Tech Mahindra with seven measurable goals each. Interestingly, three companies in the list have no documented measurable goals against any pillars.
• Going green; A time-bound journey towards net-zero emission of greenhouse gasses: Only 29 companies featured in the 2021 Capri Global Capital Hurun India Impact 50 have time-bound targets to achieve carbon neutrality. ITC and Infosys are the two companies that achieved carbon neutrality in 2006 and 2020 respectively. Cipla and Adani Ports & Special Economic Zone target to achieve carbon neutrality by 2025. Mahindra & Mahindra, UltraTech Cement, Hindustan Zinc and Tech Mahindra implemented an internal carbon pricing policy to reduce emissions.
• Key geographies and industries: 2021 Capri Global Capital Hurun India Impact 50 came from 13 cities across India. Led by Mumbai with 27 companies and followed by New Delhi with four companies. Financial services led the way with eight companies, followed by software & services with 6 Companies. With an average score of 36, manufacturing companies in 2021 Capri Global Capital Hurun India Impact 50 scored higher than service companies which registered an average score of 34.

 Jinisha Sharma, Social Impact & Strategy, Executive, Capri Global Capital said, “We hope that this report challenges and inspires more companies, both big and small, to start their own journey on better understanding the impact of their business functions on society and environment at large. Beyond just Corporate Social Responsibility, there is a strong business case for companies that are innovating to benefit stakeholders and not just shareholders. This list is only a starting point, and we hope that more companies participate over the years.”

Anas Rahman Junaid, MD and Chief Researcher, Hurun India said: “2021 Capri Global Capital Hurun India Impact 50 List is targeted at stakeholders of corporations on how to adhere to 17 UN SDGs. The stories of these corporations, tell the story of sustainable development in modern India. The list indicates that India Inc. are actively pursuing structural updates to systematically measure and report sustainability goals. We hope that the list will inspire more companies to further align their business operations with UN Sustainable Development Goals.”

 The Top 10 in the 2021 Capri Global Capital Hurun India Impact 50

The priority sustainable development goals for the top 10 companies featured in 2021 Capri Global Capital Hurun India Impact 50 are Responsible Consumption & Production, followed by Zero Hunger and Gender Equality.

2021 Capri Global Capital Hurun India Impact 50 –Top 10

Source: Hurun Research Institute, 2021 Capri Global Capital Hurun India Impact 50

Measurable and time-bound targets

94% of companies featured in 2021 Capri Global Capital Hurun India Impact 50 have a measurable time-bound target for at least one Sustainable Development Goal. 62% of companies featured in the 2021 Capri Global Capital Hurun India Impact 50 have time-bound targets to achieve carbon neutrality.

Pillars with the highest number of measurable and time-bound targets

Source: Hurun Research Institute, 2021 Capri Global Capital Hurun India Impact 50

 Companies with the highest number of measurable time-bound targets

Source: Hurun Research Institute, 2021 Capri Global Capital Hurun India Impact 50

 Methodology

The 2021 Capri Global Capital Hurun India Impact 50 is a list of the top 50 companies headquartered in India, ranked based on their alignment with the UN’s 17 SDGs (sustainable development goals).

Hurun Research started with the 2021 Hurun India 500 most valuable companies, producing a scorecard using publicly available data, including annual financial reports, ESG, CSR, sustainability reports and media. In many cases, we contacted the companies themselves.

Each of the 17 UN SDGs was marked out of 5, with an additional maximum of 3 bonus points for time-bound measurable goals, documented improvement and excess CSR spend, giving a final score out of 146, which was then indexed to 100.

In order to finalise the scores for each pillar, Hurun Research evaluated the following:

1. SDGs embedded in way of doing business
2. Specific projects engaging with the SDG
3. Investments/donations for the causes aligned with the SDG
4. Reporting of SDG related Key Performance Indicators
5. Time-bound targets to achieve Sustainable Development Goals
6. Documented improvement for time-bound targets
7. Keywords related to particular SDG mentioned in the annual report, ESG report, SDG report or CSR report

 Bonus Points: A company’s core business model positively or negatively impacted the SDG pillar score. Bonus points were available for renewable energy businesses in SDG 7 Affordable and Clean Energy (max 2pts). Points were docked for polluters for SDG 6 Clean Water and Sanitation (max 1 pt), SDG 12 Sustainable Consumption and Production (max 1pt), SDG 13 Climate Action (max 1pt), SDG 14 Life Below Water (max 1pt) and SDG 15 Life On Land (max 1pt).

Hurun SDG Rating: Hurun Research assigned an SDG rating for each company: AAA 45pts+; AA, 41-45pts; A, 36-40pts; BBB. 31-35pts; BB, 26-30pts; B, 21-25pts.

Hurun Research would especially like to thank the five members of our advisory panel consisting of subject mat ter experts ranging from professionals to academicians, who helped shape our methodology. Hurun Res earch would also like to thank the UNIDO team for their help in structuring our methodology.

  Disclaimer. All the data collection and the research has been carried out by Hurun Research. This report is mea nt for information purposes only. Reasonable care and caution have been taken in preparing this report. The inf ormation contained in this report has been obtained from sources that are considered reliable. By accessing an d/or using any part of the report, the user accepts this disclaimer and exclusion of liability which operates to the benefit of Hurun. Hurun does not guarantee the accuracy, adequacy or completeness of any information contai ned in the report and neither shall it be responsible for any errors or omissions in or for the results obtained fr om the use of such information. No third party whose information is referenced in this report under the credit to it assumes any liability towards the user with respect to its information. Hurun shall not be liable for any decisi ons made by the user based on this report (including those of investment or divestiture) and the user takes full responsibility for their decisions made based on this report. Hurun shall not be liable to any user of this report (and expressly disclaim liability) for any loss, damage of any nature, including but not limited to direct, indirect, punitive, special, exemplary, consequential losses, loss of profit, lost business and economic loss regardless of the cause or form of action and regardless of whether or not any such loss could have been foreseen.

About Capri Global Capital: Capri Global Capital Limited (CGCL) is a Non‐Banking Financial Company (NBFC) listed on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE). The Company operates in two major verticals – MSME Loans and Affordable Housing Finance – through its strong network of 100+ branches spread across 10 states & Union territories and backed by a strong and committed workforce of 2450+ employ ees in the country. CGCL addresses the capital needs of MSMEs by offering tailor‐made business loans to help them finance their capital and operational expenses. Capri Global Housing Finance Limited, a subsidiary of CG CL, operates in the affordable housing finance space providing home loans to Lower and Middle‐Income families and is a key contributor to the PM’s vision of “Housing for All” by 2022.

For the full details, please refer to www.capriglobal.in

About the Hurun Report: Hurun Report is a leading research, luxury publishing and events group established in London in 1998 with presence in India, China, France, UK, USA, Australia, Japan, Canada and Luxembourg. It is widely recognized world-over for its comprehensive evaluation of the wealthiest individuals across the globe. Hurun Report is the largest compiler of the rich list globally.

Hurun Report Inc. has four divisions: Hurun Report Media, a stable of digital media and four magazines; Hurun Research Institute; Hurun Conferences, an active events division targeting entrepreneurs and high net worth individuals; and Hurun Investments, a USD20m early-stage venture capital fund with investments into tech, media, retail and education.

About Hurun India: “Promoting Entrepreneurship Through Lists and Research”

Hurun India was launched in 2012, under the leadership of Anas Rahman Junaid, a graduate of the University of Oxford. Junaid met Rupert Hoogewerf, the founder of Hurun Global, through Oxford University and the duo thought it was the right time to speak about wealth creation in India as they saw India booming. Since then, Hurun India has been in the pursuit to celebrate the stories of India’s transparent wealth creation, innovation, and philanthropy.

The Five core pillars of Hurun India are:

1. Wealth Creation – We celebrate transparent wealth creation by bringing to light the success stories of some of the most amazing entrepreneurs through Hurun Rich Lists.
   • Hurun India Rich List is a ranking of individuals with a net worth of INR 1,000 Crore+ and has grown to become the most comprehensive rich list from India. Over the last decade, the list grew from 100 individuals from 10 cities to 1,007 richest Indians, from 76 cities.
   • Hurun Leading Wealthy Women List is the ranking of the richest self-made women in India.
   • Hurun Real Estate Rich List ranks the most successful Real Estate entrepreneurs in the country.
   • Hurun India Wealth Report is the most detailed Hurun study on the wealth distribution landscape in India.
2. Value Creation – Under this pillar, Hurun celebrates the success stories of some of the most respected Indian companies through Hurun India 500 – a ranking of most valuable non-state-controlled companies and emerging companies and investors that make the future look bright for India through the Hurun India Unicorn Index, Gazelle List, Cheetah List, and Top Investors List. 

3. Sustainability and Philanthropy – Hurun India Philanthropy List, which is on its 6^th anniversary, ranks India’s most generous entrepreneurs. Hurun India Impact 50 list ranks India’s most sustainable companies based on their alignment with the UN’s Sustainable Development Goals.
4. Art – In 2019, the Hurun India Art List was launched, aimed at tracking some of the most successful artists who are alive today by way of cumulative auction prices. Through the art list, our endeavour is to encourage individuals to collect Indian art.

5. Lifestyle and Luxury –The Hurun Luxury Consumer Survey debuted in 2019 to encourage an understanding about lifestyle and brand preferences of ultra-high net worth individuals, while curating a survey to help them explain their spending habits. 

Globally, the Hurun brand registers an estimated 8 billion views, 50% YoY growth, on the back of lists and research reports.

Hurun India serves as India’s definitive voice celebrating wealth creation, innovation, and growth. Last year, Hu run further expanded its repertoire by releasing the Hurun Global Rich List 2022, a ranking of the 3,381 US doll ar billionaires, so-called ‘Nine-Zero Club’, currently in the world and the tenth India Rich List which ranks the 1,0 07 richest individuals in India, allowing for comparisons between some of the most dynamic economies in the world. The purpose of this list is to try and tell the story of modern India through the eyes of an entrepreneur.

For the full details, please refer to www.hurunindia.net