Ramco Cements

No leading practices were identified for this company.

No leading practices were identified for this company.

No leading practices were identified for this company.

No leading practices were identified for this company.

Ramco Cements plans to establish its baseline scope 3 emissions and aims to reduce these emissions by 15% by the fiscal year 2024-25. However, it has not specified targets for scope 1 and 2 emissions from its operations. The company is recommended to develop a long-term emissions reduction target aligned with a 1.5°C pathway, as well as intermediate targets set at intervals of no more than five years. Further, it should report its base year emissions and any offsets it plans to rely on to allow for a comprehensive analysis of its targets and progress against them.

Ramco Cements’ steering committee, which gives direction to its sustainability strategy, lacks climate expertise. The company should consider tying climate achievements to executive benefits or compensation. While the company sets targets until 2025, these targets need to be made more specific and measurable, and extended beyond 2025. The company should also enhance transparency on the cost details and vision for its physical assets and business models. Although the company has some low-carbon business models in development, their anticipated growth is not evident.

Ramco Cements has disclosed its research and development (R&D) expenditure for the past three years, but it lacks quantitative data on investments in low-carbon technologies, including a breakdown of investments in mature and non-mature climate technologies. Furthermore, no company activity has been observed in relation to patenting low-carbon technologies.

Ramco Cements has strategies for engaging with suppliers and clients to reduce its ecological footprint, but it should expand the scope of these strategies and provide reports on their effectiveness. While the company engages with trade associations, it does not disclose a strategy for these interactions. Although it supports climate policies, it hasn’t explicitly committed to the Paris Agreement, which represents an opportunity for the company to align its business with responsible practices and policies.

Ramco Cements has not disclosed specific targets for reducing its scope 1 and 2 emissions, but it plans to establish a baseline for its scope 3 emissions, along with a goal to reduce these emissions by 15% by the fiscal year 2024-25. The company has outlined annual plans and intends to use offsets to achieve its goal. It should consider establishing medium- and long-term emissions reduction targets and providing more information on the offsets it plans to use.

Ramco Cements has set targets and an action plan for its scope 3 emissions until 2025, but it can extend this strategy to cover its entire supply chain beyond 2025 to ensure alignment with a 1.5°C pathway. The company could further enhance transparency by providing cost details and a clear vision for its physical assets and business models.

Ramco Cements experienced a slight decline in its scope 1 emissions in 2022 compared to the previous year, while its scope 2 emissions increased significantly during the same period. The company aims to reduce its scope 3 emissions and has planned to establish a baseline for them, although this data has not yet been reported.

While Ramco Cements does not detail its investment in low-carbon technologies, it discloses its R&D and capital expenditure investments in specific technologies to improve the environmental and social impacts of its products and processes. The company has adopted an approach focusing on offering premium construction products tailored to customer needs, including fast-setting and crack-resistant cements. Additionally, it incorporates 14% recycled or reused materials into its blended cement production.

Ramco Cements is committed to achieving net-zero emissions and embracing a circular economy as part of its resource efficiency efforts. By 2025, the company aims to transition to low-carbon growth through investments in innovative technological solutions. Its strategy includes establishing a baseline for its scope 3 emissions, reducing these emissions and using carbon offsets to meet its goals.

No evidence was found of the company’s commitment to social dialogue or of the categories of stakeholders the company engages with on a just transition. Furthermore, no evidence was found to demonstrate the company’s ongoing social dialogue and meaningful engagement with affected stakeholders.
No evidence was found of the company undertaking low-carbon transition planning to mitigate the social impacts of the transition on workers, affected stakeholders and its business relationships. Additionally, no evidence was found to demonstrate the company’s engagement in social dialogue and with stakeholders in its just transition planning.

No public commitment by the company was found stating its intention to create and support access to green and decent jobs as part of the low-carbon transition. Moreover, no evidence was found of the company’s actions to promote these jobs in a way that ensures gender balance and inclusion of vulnerable groups.
No relevant disclosure was found of the company’s assessment of employment dislocation risks. Further, no public commitment by the company was found stating its intention to reskill and upskill workers displaced by the transition to a low-carbon economy. Additionally, no evidence was found that the company reskills and upskills workers in a way that ensures gender balance and inclusion of vulnerable groups.

No relevant disclosure was found to show if the company identifies the impacts of the low-carbon transition on social protection for workers and affected stakeholders, nor how it contributes to their social protection. Additionally, no evidence was found that the company expects its business relationships to contribute to the social protection of their workers and affected stakeholders.
No relevant disclosure was found to show how the company identifies any misalignment of its lobbying activities with policies and regulations that support the just transition, nor of the measures it takes to address misalignment. Furthermore, no evidence was found that the company lobbies for policies and regulations for green and decent job creation; retention, education and reskilling; and social protection for workers.

The company commits to respecting human rights. It also commits to respecting the ILO fundamental rights at work; however, no evidence was found that it expects its business relationships to make the same commitment. No evidence was found of the company’s process to identify, assess and mitigate salient human rights risks in its own operations and supply chain. Further, no evidence was found of the company disclosing the stakeholders whose human rights have been affected by its activities. The company does, however, have a grievance mechanism available to workers and external stakeholders.

While the company commits to respecting the health and safety of its workers, no evidence was found that it expects the same commitment from its business relationships. The company states that it ensures timely payment of fair living wages to employees to help them meet basic needs and provide economic security. No evidence was found that the company discloses the proportion of its direct workforce covered by collective bargaining agreements or its required working hours. The company discloses the gender of its workforce by employee category. However, no relevant disclosure was found of additional indicators of workforce diversity. No evidence was found that the company commits to promoting gender equality and women’s empowerment.

No evidence was found that the company commits to protecting personal data and that it has a privacy statement regarding the collection, sharing and access to personal data. No relevant disclosure was found of the company’s global tax strategy and the corporate income tax it pays in each relevant jurisdiction. While the company does have a policy prohibiting bribery and corruption, no evidence was found that it includes corresponding clauses in its business relationship contracts. No evidence was found that the company has a lobbying and political engagement policy, nor does the company specify that it does not make political contributions. No relevant disclosure was found of the company’s expenditure on lobbying activities.