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