Cochin Shipyard certified by CII for GreenCo silver rating

CSL is the first green company in shipping sector to bag GreenCo award under the Ministry of Shipping.

Oct 12, 2020 11:10 IST India Infoline News Service

Cochin Shipyard Limited (CSL), a PSE under the Ministry of Shipping, Govt. of India has earned the distinction of becoming the first company in the Shipping sector to be certified by Confederation of Indian Industries (CII) for the GreenCo Silver rating.

Cochin Shipyard Ltd is currently trading at Rs329.65 down by Rs4.85 or 1.45% from its previous closing of Rs334.50 on the BSE.

CSL informed the exchanges on Friday that company has now joined the handful of big companies like IOCL, HPCL, BPCL, ONGC, GAIL, Indian Railway (units at ICF) which have already been certified. This certification is considered ‘very special’, as it was obtained in a pandemic Covid-19 situation and the process was completed in a short time.

“GreenCo” rating is awarded to a company meets set norms in implementation of ‘Green’ environment friendly facets in their production activities, conserve and is persistently endeavouring to move towards greener renewable energies like solar/wind etc.

The award is based on performance evaluation of the company under various parameters such as Energy Efficiency, Water Conservation, Renewable Energy, Green House Gas Emission, Waste Management, Material Conservation, Recycling and Recyclability, Green Supply Chain, Product Stewardship & Life Cycle Assessment, Innovation for Environment, Green Infrastructure and Ecology.

CSL could achieve the Level-3 Silver Rating at the outset is considered as a great achievement for the company.  The “GreenCo” rating certificate was awarded to CSL at the CII GreenCo Rating Award Ceremony (Virtual Event) during the 9th Edition of Greenco Summit 2020 on 07th Oct. 2020, on the CII HIVE Virtual Platform.

The GreenCo silver rating will boost CSL’s effort at achieving world class competitiveness and provides new opportunities for cost reduction, enhances the company’s Corporate Green image, credibility & also creates transparency among stakeholders. The GreenCo silver rating is also expected to pave the way for CSL to put up a strong long-term roadmap for ecologically sustainable business growth.

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