Sona BLW Precision Forgings ltd (“Sona Comstar”), one of the leading providers of automotive technology solutions globally, aims to develop a sustainable future for its business and stakeholders. The company’s plans were unveiled in the recently released first sustainability report that was themed – “Accelerating towards the future of mobility, sustainably”.
As a technology leader, Sona Comstar will make the most significant impact by enabling a reduction in GHG emissions through low-carbon mobility, resource efficiency and promoting social progress. The company has also increased the revenue share from Battery Electric Vehicles (BEVs) from 1.3 pc in FY19 to 25 pc in FY22.
Commenting on the report, Mr Sunjay Kapur, Chairman, of Sona Comstar, said, “The aftereffects of the COVID-19 pandemic, the war in Europe, the global economic slowdown, high inflation, and climate change; all these events reaffirm the importance of sustainable development and make us reflect on the values that bind our society together. Sustainability is at the heart of everything we do at Sona Comstar. It is central to the trust placed in our company by all stakeholders, including customers, employees, suppliers, partners, shareholders, and communities. We are leading the way to a sustainable future.”
Mr. Vivek Vikram Singh, MD & Group CEO, said, “Sona Comstar is a purpose-led organization aiming to play an important role in accelerating the transition to greener and safer mobility. We are positively impacting society through our innovative products and technologies, enabling low-carbon mobility, eliminating vehicular emissions, improving safety, enhancing automation, and contributing to a more sustainable planet.”
According to the report, Sona Comstar has adopted a strategic framework for ESG performance management and identified material sustainability issues for its business. It has defined incremental goals and targets under ESG materiality topics. These goals and targets will help the company to operate and achieve more sustainable growth.
The company has partnered with Ashoka University to promote women’s representation in STEM education and encourage their participation in the workforce. It has also collaborated with the Foundation for Innovation and Technology Transfer (FITT), an industry interface of the Indian Institute of Technology (IIT) Delhi, and the Indian Institute of Management (IIM), Ahmedabad, to support innovation and start-ups.