Trust is the cornerstone of Nesco’s relationships and we embrace ethical practices, transparency, and accountability in all our operations. Active engagement with stakeholders to integrate their perspectives enables us to build lasting trust with all our stakeholders.
Nesco sees sustainability as a catalyst for continuous improvement for its businesses. We set ambitious and progressive goals supported by financial and people resources to deliver improving positive outcomes. We foster innovation and efficiency with a focus on minimizing our environmental footprint while maximizing positive impacts on society.
Appreciating diverse and often conflicting stakeholder needs, Nesco leverages sustainable practices to deliver on its commitment to creating enduring value. By integrating sustainable practices into our operations, we enhance operational efficiency, reduce costs, and mitigate risks, safeguarding natural resources to pave the way for a resilient future.
Sustainability is integral to Nesco’s business and strategy. It serves as our guiding principle, influencing every decision and action we take. We embrace sustainability to achieve continuous improvement, foster trust among our stakeholders, and create long-term value for all our stakeholders.
Nesco believes that stakeholder engagement is a cornerstone of our commitment to sustainability through transparency and accountability. We have identified our stakeholders which encompass shareholders and investors, local communities, employees, suppliers, business partners, government and regulatory authorities, and customers. Acknowledging the importance of these stakeholders in achieving our sustainability goals, we actively engage with them to ensure that their voices are heard. We proactively invest in understanding expectations, address concerns and gather performance feedback to incorporate them into our decision-making processes.
Recognizing stakeholder management as crucial to fostering trust and facilitating better decision-making, Nesco has developed a policy and engagement framework for its key stakeholders. Customers are further categorized into occupiers and their employees, exhibition organizers, exhibitors, visitors, and Indabrator clients. This segmentation facilitates targeted engagement and actions tailored to each group's needs. These are complemented by effective grievance management mechanisms to address and resolve stakeholder concerns promptly and fairly.
Nesco undertook a Materiality Assessment to identify key ESG issues relevant to its operations and stakeholders. This included obtaining inputs from internal and external stakeholders based on our engagements. The material issues identified in the process have been prioritized which has helped Nesco to allocate resources effectively and strategically address critical issues that resonate with both internal objectives and external stakeholder expectations.
Nesco has defined KPIs and a roadmap to drive impacts for these material topics and the leadership team has been tasked with the implementation of these priorities. Nesco is integrating these ESG priorities into its operations through comprehensive policies, regular monitoring, and continuous improvement initiatives. Stakeholder engagement on these material priorities is at the core of our approach, ensuring alignment with external expectations while fostering transparency and accountability.
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Nesco’s Risk Committee of the Board ensures oversight of our sustainability initiatives. The committee evaluates our policies and practices to meet regulatory requirements and assesses the impact of Nesco’s operations on the environment and communities.
In addition, it helps drive Nesco’s sustainability ambitions by identifying opportunities for improvements for reducing the Company’s environmental footprint and enhancing positive socially responsible outcomes. In consultation with the Board, we have developed a robust policy framework and are progressively incorporating material ESG topics into the business and our ERM process.
At Nesco, we are committed to environmental stewardship and are focused on minimizing our carbon footprint, conserving natural resources, and promoting sustainable practices. Through continuous innovation and investment in green technologies, we strive to achieve operational excellence while safeguarding the planet for future generations.
Nesco is continuously improving its sustainability practices while identifying opportunities to adopt industry best practices.
The ESG ambitions and action areas are aligned with the NGRBC Principles. Performance against these principles is discussed in detail in the Business Responsibility and Sustainability Report (BRSR) which is included in the statutory reports section of the Annual Reports.
Energy and its efficient usage along with a healthy renewables mix is essential to offset potentially higher operational costs and associated GHG emissions. Real estate operations significantly contribute to the overall GHG emissions and increase climate vulnerability and we consume 100% renewable energy for our operations.
Nesco has adopted green building practices for IT Parks to help reduce emissions and support our customers in addressing their impacts. We provide customers of IT Parks and the Bombay Exhibition Center access to green power and encourage its adoption.
The Company is also developing strategies to reduce energy use and GHG emissions across all its businesses to unlock new business opportunities.
Efficient water and waste management is crucial for optimizing resource use and minimizing environmental impact. Compliance with various regulations is essential for seamless business operations and maintaining Nesco's reputation and social license to operate within the communities it serves. Besides meeting compliance requirements, unchecked water consumption can strain local water availability, impacting both Nesco's operations and community needs.
At Nesco's Goregaon facilities, which involve multiple stakeholders beyond direct control, streamlined waste management protocols ensure strict compliance. There's a strong emphasis on waste segregation awareness and recycling, with efforts underway to expand organic waste composting.
Nesco is actively reducing water consumption through initiatives such as rainwater harvesting, Sewage Treatment Plants (STP), and IoT-enabled water meters for enhanced monitoring and efficiency. As we expand our infrastructure footprint, we're updating our water balance to ensure sustainable usage. By embracing water-saving technologies and responsible practices, Nesco aims to safeguard resources and reinforce its commitment to environmental stewardship.
Customer satisfaction is a central focus across Nesco's diverse businesses, guiding both client-facing and operational teams. We invest in innovative technologies to enhance customer experience and operational efficiency.
Nesco continually refines its systems and governance to maximize satisfaction, actively engaging with customers to address concerns and maintain operational agility. Through sustainable practices and the integration of new technologies, including digital solutions, we aim to elevate user experiences across all stakeholder interactions, driving improved profitability and long-term success.
Supply chain disruptions can significantly impact Nesco's operations. Neglecting ethical and sustainable sourcing practices risks non-compliance with LEED certification requirements, amplifying supplier-specific and overall supply chain risks. Nesco is committed to enhancing supply chain sustainability to bolster operational resilience, realize cost efficiencies, and cultivate enduring supplier partnerships.
Our businesses prioritize sourcing from marginalized and vulnerable communities where possible, emphasizing local engagement. A comprehensive Supplier Code of Conduct outlines Nesco's expectations for ESG standards, regulatory compliance, and ethical conduct, reinforcing our commitment to responsible sourcing practices.
Effectively managing a diverse workforce is crucial for enhancing resilience and productivity at Nesco. Key priorities include fair compensation, robust learning opportunities, career development, and fostering an inclusive workplace culture. With a substantial reliance on contractual labour across our operations, Nesco acknowledges and addresses compliance and operational risks.
We have implemented rigorous processes to mitigate labour-related risks, ensuring comprehensive compliance measures for both our direct workforce and third-party contractual providers
Ensuring the health and safety of employees, contractors, and visitors is paramount across all Nesco operations. Our commitment extends to creating a safe environment not only for our workforce but also for occupiers, their guests, and event attendees at our facilities. Adhering to stringent safety regulations and implementing proactive measures for hazard prevention and response are crucial to mitigating risks associated with accidents, injuries, and potential liability.
Nesco invests in robust infrastructure, safety systems, and comprehensive training programs for employees and contractors alike. We prioritize safety awareness through clear signage and continuous training for outsourced personnel involved in visitor engagement. By upholding rigorous safety standards, Nesco ensures a secure environment for all stakeholders, reinforcing trust and safeguarding our reputation.
Dream Companies to Work For 2024 –World HRD Congress
Promising Brand 2023-24 – Nesco Foods Iconic Brand 2023-24 – Bombay Exhibition Center -The Economic Times
Food Connoisseurs India Awards – Best Caterers of the Year (Maharashtra) 2024 –Nesco Foods –Food Connoisseurs India
