Ashok Leyland forms a New Committee of the Board to drive ESG; Stock jumps 4%

The role of this new ESG Committee will be to provide appropriate oversight and guidance in the Company’s journey on organization-wide ESG initiatives.

Jun 25, 2021 03:06 IST India Infoline News Service

Hinduja Group flagship, Ashok Leyland on Friday announced the formation of an Environmental, Social & Governance (ESG) Committee headed by an Independent Director at the recently concluded Board meeting.

The role of this new ESG Committee will be to provide appropriate oversight and guidance in the Company’s journey on organization-wide ESG initiatives, priorities, and leading ESG practices.

ESG initiatives in Ashok Leyland will be led by N V Balachander. As the President of ESG, he will lead the Sustainability agenda within the Company and work with the newly formed Board Committee to create new benchmarks in Sustainability for the Auto industry.

Dheeraj Hinduja, Chairman, Ashok Leyland, said, “We are pleased to institute this new ESG Committee of our Board. This Committee will help accelerate adoption of leading ESG practices into the business and bring added focus on being sustainable and socially responsible. The endeavor is to create sustainable opportunities for people, businesses and communities that we work with.”

Vipin Sondhi, MD & CEO, Ashok Leyland, said, “While we are focused to achieve our Vision which is ‘To be a Top 10 Global CV Player’, a deep sense of social responsibility lies at the heart of our operations at Ashok Leyland. For over 70 years, we have been committed towards the good of our customers, employees, communities, value chain partners and investors, and Sustainability is the foundation upon which this commitment has been built. The formation of this Committee will propel our efforts in taking the ESG agenda forward.”

Jose Maria Alapont, Independent Director, Ashok Leyland, added, “The aim of this Committee will be to provide guidance and support to Ashok Leyland’s ongoing commitment towards Environment, Corporate Social Responsibility, Corporate Governance and other Public Policy matters, relevant to the company."

At around 3.17 pm, Ashok Leyland was trading at Rs123.40 per piece up by 4.4% on Sensex. 

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