DRL publishes first sustainability report for ’04

EPP News Bureau - Hyderabad

Dr Reddy’s Laboratories (DRL) released its first ‘Sustainability Report’ for the financial year 2003 -2004. This is a voluntary initiative and is part of the company’s continuing efforts to establish global benchmarks in corporate governance.

The Sustainability Report details the economic, environmental and social dimensions of the company. Last year, the company had published its first Safety, Health and Environment (SHE) report.

Commenting on the release of the report, G V Prasad, CEO, Dr Reddy’s, said, ‘‘We believe that an organization has to perform well on all the three dimensions of performance - economic, social and environmental - to achieve sustainable growth and success. As a company, we are fully committed to the principles of sustainability. The publication of this report is a reflection of our commitment to voluntary - as opposed to mandatory - corporate transparency.’’

The report details the various initiatives and activities of the company as a responsible corporate, in the community, as a global citizen, its commitment to protecting stakeholder interests, and in contributing to broader societal goals. Dr Reddy’s Sustainability Report for the year 2004 can be accessed on the company’s website at www.drreddys.com. This report has been presented in line with the reporting guidelines recommended by the Global Reporting Initiative.

As per the Global Reporting Initiative (GRI) database there are about 624 companies worldwide which currently publish sustainability reports, of which ten are Indian companies.

Dr. Reddy’s is among a select group of companies in the healthcare sector worldwide to publish a sustainability report.

The Global Reporting Initiative (GRI) is a multi-stakeholder process and independent institution whose mission is to develop and disseminate globally applicable ‘Sustainability Reporting Guidelines’.