28 December 2023

Adieu to 2023, Hello 2024

Adieu to 2023, Hello 2024

This year has been interesting for Cosmo First. At the outset, I thank everyone for your belief, your support and hard work as we navigated the challenges of 2023. While the market has been dynamic, with Europe still dealing with the Russia-Ukraine conflict along with the latest turbulence in the Levant, we have been able to steer our many verticals and rise through the turbulence.

The big highlight for India in all this has been our G20 presidency. The country showcased a unique opportunity to lead the world in the transition to a circular economy for plastics. The Business 20 (B20) – a G20 dialogue forum, showcased India’s capacity and capabilities. The ‘Middle-East Europe Economic Corridor’ will further enhance India’s focus on manufacturing and exports.

Furthermore, the launch of the Resource Efficiency and Circular Economy Industry Coalition (RECEIC), a first-of-its-kind initiative, aimed to promote resource efficiency and circular economy practices is a welcome step in the right direction and will be industry-led with its secretariat and governance managed by businesses via an independent institutional mechanism.

These initiatives are a welcome step for Cosmo First. As a leading packaging company with a strong focus on innovation and sustainability, we are committed to developing new products and solutions that are eco-friendly and sustainable in the long run.

Pioneering Sustainability in the Industry: Our Green Initiatives Journey at Cosmo First

In the fast-paced world of industry, sustainability is not just a buzzword—it's our guiding ethos at Cosmo First. We are proud to share the incredible strides we're making in transforming our industry's landscape through pioneering green initiatives. Here's a glimpse into our commitment to sustainability and the remarkable achievements of 2023.

We have worked towards sustainable water usage by implementing rainwater harvesting initiatives, harnessing 24% of our total water consumption from rainwater. Along with this, our advanced water treatment technologies enable us to reuse an impressive 45% of treated wastewater, significantly reducing our environmental impact.

Transitioning to renewable power sources is pivotal in reducing our carbon footprint. Currently, we source 9.5% of our total power consumption from renewables. By June 2024, our goal is to achieve 60% of our energy use from this source. This has already led to a reduction of 7300 metric tons of CO2 emissions. By mid-2024, we anticipate an impressive 80,000 metric ton reduction in our mission to create a greener, healthier planet.

Our commitment to sustainability extends beyond resource conservation. We've identified and addressed 27 noisy locations across our facilities, reducing noise levels to 85 decibels and fostering a safer, healthier work environment for our team.

Sustainability permeates our supply chain. We're working with eco-friendly suppliers, optimizing transportation routes, and minimizing packaging waste, ensuring our entire supply chain aligns with our green objectives.

But this is not all, we were also commended for our achievements in the industry and made some salient changes in recognition of the journey we wish to embark in the new year.

Cosmo First has received accolades such as the IFCA Star Awards and the Forbes Asia Best Under a Billion Companies Awards. These recognitions affirm our dedication, innovation, and commitment to excellence.

Additionally, we've refreshed our group logo, symbolizing our commitment to continuous innovation and growth. Our English learning portal, "English Tutor," has transformed, offering more interactive and user-friendly features to encourage more students to enrol and learn essential English skills.

As we move into the new year, Cosmo First is on its way to open a new vertical which we are certain will set an industry standard in the personal and commercial space – Cosmo Sunshield.

Cosmo Sunshield, a new window film vertical, aims to revolutionize space aesthetics and protection, providing 99% UV rejection and improving energy savings by 10%. As we venture into this market, we're not just introducing a product; we're offering a solution to the challenges of our time.

As we look towards the future, our green initiatives and innovative ventures stand as a testament to our commitment to responsible business practices and a cleaner, more sustainable world. Together, let's set new industry standards and ensure a brighter future for all.

Pankaj Poddar, Group CEO