Mumbai, 19 November 2014: 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.
Speaking on this occasion Mr. Surojit Shome, CEO, Rabobank India said, “We are very excited to be able to partner with EID Parry, a long-standing client group along with environmental sustainability experts like WWF India. This project is an integral part of Rabobank’s broader food and agribusiness strategy of increasing food availability in an environmentally sustainable way. We are certain that this project will enhance our client’s overall performance in a responsible and efficient manner.”
Dr. Sejal Worah, WWF India said, ”This partnership with EID Parry and Rabobank will help to develop decision making tool which can be widely used by business and the finance sector for sustainable water and carbon management thereby reducing environmental footprint in production systems.”
Mr.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”.
About E.I.D. – Parry (India) Limited
E.I.D. Parry is a significant player in Sugar with interests in promising areas of Bio Pesticides and Nutraceuticals. E.I.D Parry was incorporated in 1975. The company also has a significant presence in Farm Inputs business through its subsidiary, Coromandel International Limited. EID Parry has a 99% stake in Silkroad Sugar Private Limited, 93.52% stake in US Nutraceuticals LLC, USA with 100% voting rights and a 65% stake in Parrys Sugar Industries Limited.
EID Parry, together with its subsidiaries, has nine sugar factories having a capacity to crush 37550 Tonnes of Cane per day, generate 153 MW of power and four distilleries having a capacity of 230KLPD. In the Bio Pesticides business, the Company offers a unique neem extract, Azadirachtin, having a good demand in the developed countries’ bio pesticide markets. In the Nutraceuticals business, it holds a strong position in the growing wellness segment mainly catering to the world markets with its organic products.
About Murugappa Group
Founded in 1900, the INR 243 Billion Murugappa Group is one of India’s leading business conglomerates. The Group has 28 businesses including ten listed Companies traded in NSE & BSE. Headquartered in Chennai, the major Companies of the Group include Carborundum Universal Ltd., Cholamandalam Investment and Finance Company Ltd., Cholamandalam MS General Insurance Company Ltd., Coromandel International Ltd., Coromandel Engineering Company Ltd., E.I.D. Parry (India) Ltd., Parry Agro Industries Ltd., Sabero Organics Ltd., Shanthi Gears Ltd., Tube Investments of India Ltd., and Wendt (India) Ltd.
Market leaders in served segments including Abrasives, Auto Components, Transmission systems, Cycles, Sugar, Farm Inputs, Fertilisers, Plantations, Bio-products and Nutraceuticals, the Group has forged strong alliances with leading international companies like Groupe Chimique Tunisien, Foskor, Mitsui Sumitomo, Morgan Advanced Materials, Sociedad Química y Minera de Chile (SQM), Yanmar & Co. and and Compagnie Des Phosphat De Gafsa (CPG). The Group has a wide geographical presence all over India and spanning 6 continents.
Renowned brands like BSA, Hercules, Ballmaster, Ajax, Parry’s, Chola, Gromor, Shanthi Gears and Paramfos are from the Murugappa stable. The organization fosters an environment of professionalism and has a workforce of over 32,000 employees.