Rabobank, EID Parry and WWF India signed an agreement to collaborate on sustainable production of sugarcane and work towards reducing business risk in the face of high water and carbon footprint.
 
The partnership will produce tools that will track and measure two key issues related to sugarcane production-water use and Green House Gas (GHG) emissions. It will also advice on efficient management of water along the supply chain. The three-year project will be carried out across EID Parry's sites in southern India, with Rabobank being the facilitator and WWF-India providing the knowledge input.

The initiative is a strategic alliance between these three institutions aimed at supporting businesses towards implementing sustainable practices, thereby reducing the pressure on natural resources

The project will undertake an assessment of water availability risk, water footprint sustainability and an estimation of the GHG footprint and carbon reduction potential in sugarcane cultivation practices. Recommendations for the improved production systems will be formulated following these assessments.

The recommendations will be tested through pilot projects which will eventually be scaled up. The project will be executed in EID Parry's select facilities in Karnataka, Tamil Nadu and Andhra Pradesh, which will provide for testing in conditions with differing rainfall patterns, irrigation sources and natural water resources.

V.Ramesh, managing director, EID Parry said, ''EID Parry is the largest sugar producer in South India and one of the top five sugar producers in the country. EID Parry has undertaken considerable efforts to promote sustainability on its own and also through collaboration with partners. We are very optimistic that this partnership would enable EID Parry to address two main issues pertinent to Cane cultivation in the Sugar Industry ie. Water and Carbon Footprint.''

Shares of the company gained Rs 3.8, or 1.69%, to settle at Rs 228.40. The total volume of shares traded was 26,730 at the BSE (Thursday).