At Khaitan Holdings, we recognize our responsibility in shaping a better world for future generations. We are committed to transitioning from a fossil fuel-based business to a more sustainable and environmentally friendly model. This shift not only aligns with our corporate social responsibility but also opens up new opportunities for our company. We are excited to embrace this journey while fulfilling our Environmental, Social, and Governance (ESG) commitments.
Our goal is to minimize adverse impacts while actively contributing to economic, environmental, and social progress. We conduct our business with transparency, ethics, and responsibility, implementing practices that effectively manage the environmental, social, and governance (ESG) risks inherent in the commodity sector.
We are dedicated to complying with both national and international environmental laws. Acknowledging the importance and vulnerability of our planet's environment, we strive to minimize our ecological impact by upholding high environmental standards. This commitment extends to our business practices, and we expect our suppliers and partners to share and adhere to these same principles.
We recognize the impact of our carbon footprint and are actively redesigning our business activities to support the energy transition by diversifying our portfolio and acquiring new assets. Historically, our focus has been on fossil fuel-based businesses, and we acknowledge the coal sector's significant contribution to greenhouse gas emissions and climate change. Today, we are committed to reducing the proportion of coal in our portfolio. Our primary market is India, where coal and oil have historically underpinned industrial growth and modernization, contributing to an improved standard of living for the population.
(i) Human Rights We conduct our business in accordance with human rights principles and expect our employees, suppliers, and business partners to do the same. We are committed to supporting and respecting both local and international laws, including International Human Rights Law and the UN Guiding Principles on Business and Human Rights.
(ii) Labour Rights and Fair Employment Practices We fully comply with national and international laws and regulations related to labor rights and fair employment practices, including national legislation and the eight ILO Fundamental Conventions.
Corporate Governance Corporate governance refers to the processes and structures through which a company is managed and overseen. At Khaitan Holdings, we are committed to continuously enhancing our principles and policies to ensure business resilience and protect our interests. The implementation of our ESG policy is integrated into our existing corporate governance framework and is supported through training, monitoring, and reporting.
Compliance and Know Your Customer (“KYC”) Policy We ensure that our processes and operations comply with local laws and regulations, as well as our internal policies, rules, manuals, and procedures. All employees are required to adhere to our "Compliance and KYC Policy." We do not engage in transactions with any counterparties that do not meet our KYC requirements.
Anti-Money Laundering (“AML”) We have stringent policies in place to ensure compliance with anti-money laundering (AML) requirements set by governments and financial institutions worldwide.
Anti-Bribery and Corruption (“ABC”) Policy We maintain a zero-tolerance policy toward bribery and corruption. We expect all employees and third parties engaged in business with us to fully comply with applicable laws, including, but not limited to, the United Nations Convention against Corruption, the UK Bribery Act 2010, and the US Foreign Corrupt Practices Act, among others.
Sanctions We are committed to complying with international sanctions. Regulations from Swiss SECO, US OFAC, the EU Official Journal, and UN embargoes, as well as any country-specific sanctions, are binding on our activities.
Grievance Mechanism We encourage stakeholders to utilize our grievance mechanism. Through this system, both internal and external stakeholders can raise concerns, report complaints, or address any breaches of our policies, as well as any potentially unlawful activities in the workplace.