Glenmark Pharmaceuticals has been listed on the Dow Jones Sustainability Indices 2018. Dow Jones Sustainability Index (DJSI) is one of the most esteemed global benchmarks for sustainable business practices. Only the top ranked companies in terms of Corporate Sustainability within each industry are selected to be featured in the index. The inclusion in this list is considered highly prestigious by global investors, financial analysts and other stakeholders and also serves as a benchmark for investors who integrate sustainability considerations into their portfolios.
Glenn Saldanha, Chairman and Managing Director said, ''Glenmark is proud to be included in the Dow Jones Sustainability Emerging Market Index 2018. Being listed in the index is a landmark achievement for us and it re-emphasizes our efforts towards Environment, Social and Governance factors and how over the years we have emerged as a leader in the area of sustainability. This honour has motivated us to continue working on strengthening our actions to build a sustainable future.''
The DJSI Emerging Market leaders were chosen from over 800 companies who were assessed, out of which 94 made it to the Index. A focussed approach on sustainable practices in conducting the core business, operations and social investments has facilitated Glenmark to be among the only 2 pharmaceutical companies to be featured in the Emerging Market Index. From India there are only 10 companies who have made it to this prestigious listing.
The evaluation included 24 long-term economic, environmental and social criteria. Glenmark secured high scores for Marketing Practices, Product Quality and Recall, Environmental Policy and Management System, Corporate Citizenship and Philanthropy, Health Outcome Contribution and Code of Business Conduct.
Glenmark's philosophy is to conduct its operations in a manner that is ethical, transparent, proactive, environmentally conscious and sensitive to all its stakeholders. A strong focus on innovation, good corporate governance, operational excellence, quality, environment practices and social responsibility provides the necessary foundation in the quest to become a leading sustainable organisation.
Shares of the company declined Rs 11.7, or 1.71%, to trade at Rs 674.40. The total volume of shares traded was 18,509 at the BSE (12.00 p.m., Wednesday).
