Ashok Leyland ranked highest in global ESG assessment for heavy machinery and trucks.
04 Feb 2025 | 10849 Views | By Autocar Pro News Desk
Ashok Leyland has achieved the number one global ranking in Sustainalytics' ESG Risk Rating for the Heavy Machinery and Trucks sector in Q3 FY25. The rating from Sustainalytics, which evaluates companies on environmental management, social responsibility, and corporate governance, positions the Indian commercial vehicle manufacturer at the top of its ...
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Ashok Leyland has achieved the number one global ranking in Sustainalytics' ESG Risk Rating for the Heavy Machinery and Trucks sector in Q3 FY25. The rating from Sustainalytics, which evaluates companies on environmental management, social responsibility, and corporate governance, positions the Indian commercial vehicle manufacturer at the top of its industry segment.
Shenu Agarwal, MD & CEO of Ashok Leyland, said the recognition aligns with the company's goal of becoming one of the top 10 global commercial vehicle players. Alok Verma, Head of Corporate Strategy & ESG, emphasized the company's focus on integrating sustainability into its core business strategy.
The company has announced environmental targets including carbon-neutral operations by 2030 and net-zero emissions by 2048. It has also committed to achieving 100% renewable energy usage by 2030 through the RE100 initiative.
Ashok Leyland, the Indian flagship of the Hinduja Group, has shifted from a compliance-based approach to incorporating sustainability across its business operations, product development, and corporate social responsibility initiatives.
The assessment by Sustainalytics covered multiple ESG parameters and evaluated the company's performance in sustainable business practices. Sustainalytics provides ESG research and ratings globally, helping investors and stakeholders assess companies' sustainability performance.
The automotive manufacturer's recognition comes as the commercial vehicle industry faces increasing pressure to adopt sustainable practices and reduce environmental impact. Ashok Leyland's position in the Indian market as a leading commercial vehicle manufacturer adds significance to its sustainability commitments.
The company has established itself in India's commercial vehicle sector since its founding in 1948, with a substantial presence in both domestic and international markets. This ESG ranking reflects its evolution from a traditional manufacturer to one focused on sustainable mobility solutions.