Bharat Forge Ltd

Publishing GRI-based Sustainability Reports for the Company three years in a row since FY2021 ensures that interested stakeholders are made aware of the initiatives taken by the Company around sustainability. While the report published in FY2021 was not assured by a third party agency, the reports published in the subsequent financial years were assured by third party agency. This helped in improving the Sustainalytics rating of the Company from '29' in FY2021 to '21.7' in FY2023. [...] To mainstream ESG into our operations, we have set ambitious targets and developed a robust decarbonization roadmap. An ESG Committee, led by our Executive-cum-Joint Managing Director, ensures oversight and guidance, reinforcing our dedication to creating a sustainable future.

Public Advocacy We, at Bharat Forge, believe that the private sector should participate in the development of public policies in order to foster a stable legal and regulatory environment in which all enterprises can thrive. We regularly participate in debates and advocacy for policies related to issues that are significant to our industrial sector. We also participate regularly in industry events, are a member of 17 trade and industry associations, and speak out in favor of innovative engineering solutions for the industrial sector. We also hold stakeholder consultations and dialogues that help the government and various regulatory agencies develop better laws and policies. [...] The Senior Leadership Team of our Company interacts with a range of professional bodies and organizations to foresee and comprehend the business environment and changes in governmental regulations, such as emission norms and policies pertinent to our industry. This also helps our company acquire data that is used for a variety of purposes, including defining future growth drivers, managing risks, and developing new products. Furthermore, as an organisation, we are committed to providing appropriate feedback to the relevant regulatory bodies for the betterment and advancement of the entire industrial sector.

Our Board-level ESG Committee ensures the commitment of top management in ascertaining the high material topics and the due-diligence around them for a dynamic business scenario, that helps in balancing profitability with sustainability. [...] To effectively oversee sustainability-related matters across our operations, we have established the Board-approved ESG Committee, led by our Joint Managing Director. [...] The ESG Committee plays a pivotal role in monitoring our ESG performance by reviewing and approving publicly reported information. Additionally, the committee ensures the implementation of our ESG strategy and establishes a roadmap for achieving our environmental, social, and governance goals. [...] Senior Management Member at the level of Vice President & Head - ESG takes care of the implementation and reports to the Board ESG Committee. [...] At Bharat Forge, we actively engage in activities and publications aimed at influencing policies, laws, and regulations within our industry sector. We participate in industry events and hold memberships across 17 trade and industry associations. [...] When we seek to influence governmental or regulatory policies, we uphold ethical practices and prioritize transparency. Our approach ensures that the policies we advocate to promote human rights, fair competition, and sustainability. [...] During the reporting period, our organization adhered to a policy of refraining from making any financial contributions to political parties or individuals. This ensures the independence and impartiality of our operations.