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India has set a goal of reducing carbon emissions by 50% by 2030 and for the entire economy to be net zero by 2070.
02 Aug 2024 | 11525 Views | By Autocar Professional Bureau
It's no secret that Article 4 of the Paris agreement has deep-dived into the issues that are particularly vulnerable to the adverse effects of global climate change and many countries including India have set their individual carbon neutrality goals.
As a responsible company, Econovus Packaging Limited has taken ...
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It's no secret that Article 4 of the Paris agreement has deep-dived into the issues that are particularly vulnerable to the adverse effects of global climate change and many countries including India have set their individual carbon neutrality goals.
As a responsible company, Econovus Packaging Limited has taken several steps in this direction. In fact, the company has achieved carbon neutrality for the reporting period FY2022-23 by offsetting their greenhouse gas emissions. "Econovus Packaging further reinstates their commitment to continue remain carbon neutral for FY2024 and in the future," says Ramesh Prasad, Founder & Managing Director, Econovus Packaging Pvt Ltd. For its achievements, the company is authorised to bear the status of carbon neutral company.
According to Prasad, total GHG Emissions was 912 t-COze covering Scope 1, 2 & 3 The said GHG emissions have been calculated by Snowkap, Singapore and its sustainability reporting software is designed to be compliant with International sustainability standards like GRI - Global Reporting Initiative, Sustainability Accounting Standards Board (SASB), Task Force on Climate-related Financial Disclosures (TCFD) and other relevant international standards.
Carbon Offset Project
Eki, a leading Carbon Credit Developer and Supplier listed on the Bombay Stock Exchange, is involved in a carbon offset project. This project is a run-of-the-river hydro power project in Uttarakhand, managed by Alaknanda Hydro Power Company Limited.
Carbon Credits
To achieve carbon neutrality, Econovus has cancelled Certified Emission Reductions (CERs), which are carbon credits verified under the Clean Development Mechanism (CDM). Specifically, Econovus has cancelled 912 tons of carbon dioxide equivalent from CDM 4776, which is the hydro project in India mentioned above. Econovus also earlier achieved GC Mark, Green Company Certification from DQS CFS GmbH – German Association for sustainability.
Sustainability initiative
Moving forward, Econovus committed to become carbon neutral company by FY24. The carbon neutral target delivered in three phases. The first phase is an accounting phase to establish the GHG baseline and assess ESG related risks for Econovus. The second phase will focus on absolute emission reductions by increasing efficiency and adopting lower carbon alternatives. In the third phase residual emissions are addressed through offset mechanisms and achieve carbon neutral status, says Prasad.
Econovus conducted Life Cycle Assessment (LCA) – Cradle to gate since last 3 years of the entire value chain (Raw material, operations, Logistics, consumption and recycling) to map and monitor carbon footprint for improvement and to achieve carbon neutrality target. Company managed carbon footprint through their internal trademark system called 'Ecogauge’
Meeting global norms
Econovus has successfully met the international requirements of the global certification of compliance program for sustainability. The organization has implemented an effective environment management system, which enables the organization to identify and manage all significant environment risks and to reduce them accordingly, as well as to continuously improve their environment performance.
Specialised logistical solutions
Econovus specialises in automotive export logistics solutions, offering a comprehensive range of services including vehicle-level BOM validation, conceptualization, design, CAE analysis, sustainable packaging development, in-house testing, manufacturing, complete CKD operations management at customer sites, lashing, and containerization. They have established a Design Centre in Pune dedicated to providing packaging engineering solutions, ensuring compliance with destination country requirements, sustainability and optimizing box and container space to achieve the best packaging cost per vehicle and component.
Innovation and engineering excellence
Econovus has partnered with several automotive OEMs and auto components manufacturer to achieve significant reductions in costs and carbon footprints. Recently, they successfully reduced container by 22 per annum in a major export flow and cut costs by up to 40% in domestic flows through their patented and innovative pallet less sustainable packaging solution.
As the electric vehicle (EV) market expands, Econovus is equipped with United Nations-approved sustainable packaging solutions tailored for EVs and lithium-ion batteries, serving leading automotive OEMs. They have secured engagements with key players in the automotive industry for upcoming programs.
In just five years, Econovus has emerged as a leader in automotive export packaging, continuing to innovate and earn the trust of prestigious clients such as Skoda VW, Stellantis, Mahindra & Mahindra, along with various other OEMs, EV manufacturers, and auto components customers.
What is Econovus Packaging?
Econovus Packaging Pvt Ltd is India’s First green Automotive packaging company authorised to bear the GC Mark, Green Company Certification from DQS CFS GmbH, the German Association for sustainability. Company offers one stop automotive logistics solutions which includes eco-friendly, cost-effective, heavy duty & industrial packaging for both export and domestic application. We offer solutions not only help reduce the packaging carbon footprint by up to 93 percent but also can help save up to 30 percent in packaging cost. Furthermore, through specialized design solutions, there is scope to improve up to 50 percent efficiency in Total Cost of Ownership.
Humble beginnings
Econovus Packaging, which was incorporated in January 2019, has a state-of-the-art manufacturing facility in Chakan, Pune and Tiruvallur, Chennai and all-India presence through business partners. With a strong focus on 5 Pillars – Innovation & Technology, Sustainability, Cost Reduction, Industry 4.0 and Safety, we are already ISO 9001:2015 , ISO14001-2015, ISO45001-2015,GC Mark and FSC-COC certified.
Econovus has been recognised as All India Winner of innovative start-up by ASSOCHAM, supported by NITI Aayog and the Ministry of Trade and Electronics. All India Winner Award is facilitated by Mr. Som Parkash – Hon’ble Minister of State – Ministry of Commerce and Industry, Government of India.
'Our Design Centre in Pune focuses on optimising packaging solutions for cost and sustainability, particularly for the expanding EV market,' said
— Ramesh Prasad, Founder & Managing Director, Econovus Packaging Pvt Ltd.
Econovus Packaging is recognised as India's first green automotive packaging company, holding prestigious certifications such as the GC Mark from DQS CFS GmbH and ISO 9001:2015, ISO 14001:2015, ISO 45001:2015 certifications.