Page 109 - Arvind 2024

Corporate Overview
Statutory Reports
Financial Statements
26. Overview of the entity’s material responsible business conduct issues. (Please indicate material responsible business conduct and sustainability issues pertaining to environmental and social matters that present a risk or an opportunity to your business, rationale for identifying the same, approach to adapt or mitigate the risk along-with its financial implications, as per the following format.):
S. No.
Material issue identified
Indicate whether risk (R) or opportunity (O)
Rationale for identifying the risk / opportunity
In case of risk, approach to adapt or mitigate
Financial implications of the risk or opportunity
Water Management
R
Increased water consumption and constrained water supply are among the most critical global risks. Considering our dependency on water for the viability of our operations, we have identified it as a material risk for us.
1. We must comply with various environmental regulations related to water use and management. Failure to do so can result in fines and legal issues.
2. Poor water management can have detrimental effects on the local ecosystem, potentially leading to habitat destruction, pollution, and other environmental issues.
In order to mitigate this risk:
1. We have adopted water management in the design phase of our projects.
2. We are also maximizing the use of such construction materials which require less water for curing purposes.
3. We are also putting our focus on the water recycling and harvesting. This enables us to recycle water efficiently and also supports replenishment of water table. Investing in innovative water- saving technologies and practices can lead to long-term savings, operational efficiency, and a stronger market position as a leader in sustainable construction.
Water Management
O
By focusing on water management as an opportunity, Arvind SmartSpaces Limited can not only contribute to environmental conservation but also gain a competitive edge, reduce costs, and build a positive brand image. This strategic approach to water management is a win-win for the company, the community, and the environment.
1. Effective water management can enhance the company’s reputation as an environmentally responsible developer.
2. By reducing water consumption, the company can lower operational costs and increase profitability.
3. Implementing advanced water- saving technologies can position the company as a leader in innovative construction practices.
4. As clients and consumers become more environmentally conscious, sustainable practices, including water management, can become a significant differentiating factor in the market.
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Negative Implications
Positive Implications
Emissions R and Energy Management
In order to mitigate this risk:
While energy contributes to the growth of construction industry, resulting emissions 1. are a dampener for environmental health.
1. High emissions and inefficient energy management can lead to increased operational costs.
2. As public awareness of environmental 2. issues grows, companies with poor emissions and energy practices may face negative public perception, 3. affecting their brand value and market position.
3. There is a growing market preference for sustainable and green construction. Companies not adhering to low- emission and energy- efficient practices may lose competitive advantage and market share.
We continually monitor the energy consumption and take measures both at the design level and the construction level to flatten our energy consumption.
We are also engaged in increasing renewable energy uptake in our projects.
We are using products like China Mosaics in our construction activities which results in saving a significant amount of energy.
Negative Implications
Annual Report 2023-24 | 107