Vakrangee ranked World’s No.1 Company in the Software and Services industry based on Sustainalytics ESG Assessment

Myequity news | Date : 07-05-2020 20:45:00 IST
  • Globally Ranked 14th out of the 12,076 companies (Global Universe)
  • Globally Ranked 1st out of 668 Companies in Software & Services (Industry Group)

In recognition of its superior Environmental, Social and Governance models, Vakrangee Limited (VL) announces that it has globally ranked No.1 in the Sustainalytics ESG Risk rating rankings out of the 668 companies assessed in the Software and Services industry across worldwide. Sustainalytics has recognised the company’s leadership in sustainability-related matters by giving a score of 7.4 Negligible in ESG risk rating. Sustainalytics mentions that the company's overall management of material ESG issues is strong.

Rating Overview - The company is at negligible risk of experiencing material financial impacts from ESG factors, due to its low exposure and strong management of material ESG issues. Furthermore, the company has not experienced significant controversies.

Sustainalytics is a global leader in Environment, Social and governance (ESG) and Corporate Governance research and ratings. The firm partners with institutional investors who integrate environmental, social and governance information and assessments into their investment decisions. ESG ratings coverage launched with 9,000 companies and has now expanded to cover 12,000 companies.

Regarding the Data Privacy & Security, Vakrangee has received 100/100 score, depicting strong and robust Data Privacy and Data Security Policies in place. In line with industry leading practice, Vakrangee’s information security management system is ISO certified to ISO 27001:2013.

In the Environment field, Vakrangee has received an Industry Leader score, proven by the company’s strong policies on Green Procurement, GHG Reduction program, leveraging technology to implement Go Green Initiatives such as Paperless Banking, Biometric enabled evaluation and Paperless ATM.

Further on Stakeholder Governance front, Company has received an Industry Leader score, proving Company’s strong policies on Bribery & Corruption, ESG Governance, and Whistleblower Programmes. For Business Ethics and Human Capital both, the company has received strong scores of 87.9/100 and 92.5/100 respectively.

Commenting on this, Mr Dinesh Nandwana, Managing Director & Group CEO, Vakrangee Ltd. said, “We are honoured and excited to receive this rating from Sustainalytics. At Vakrangee, we have always attempted to be a Responsible and Socially Conscious company. This rating is a validation of our belief and commitment to our Business model of Nextgen Vakrangee Kendras.

Through our network of kendras, we are taking the financial and digital literacy to the bottom of the socioeconomic pyramid and serving as the last-mile link to connect India’s unserved and underserved rural and urban citizens by offering them the same products and services at the same time, competitive price and same service levels. We are acting as the biggest equaliser by bridging the gap between the urban and rural population in India.

Our Business strategy has been mapped with the sustainability initiatives along with the United Nation’s Sustainable Development Goals. The goals are a blueprint to achieve a better tomorrow. Our aim is to efficiently adopt these goals and address the global challenges, which includes poverty, inequality, climate, environmental degradation, prosperity, and peace and justice.”

Please see below the link for Sustainalytics ESG Risk Rating Report:
Link: %20Sustainalytics%20ESG%20Risk%20Rating%20Summary%20Report.pdf

About Vakrangee Limited (BSE Code: 511431; NSE Code: VAKRANGEE)
Incorporated in 1990, Vakrangee is the unique technology driven company focused on building India's largest network of last-mile retail outlets to deliver real-time BFSI, ATM, e-commerce and logistics services to the unserved rural, semi-urban and urban markets. The Assisted Digital Convenience stores are called as “Vakrangee Kendra” which acts as the “One-stop shop” for availing various services and products. Vakrangee currently has 23,000+ (10,000+ Operational & 13,000+ under on-boarding process) which are spread across 30 States & UTs, 500+ districts and 6,150+ postal codes. More than 70% of these outlets are in Tier 5 and 6 towns. Vakrangee's planned target is to reach at least 25,000 Nextgen Vakrangee Kendras by 2020 and further enhance it to reach 3,00,000 Nextgen outlets by FY 2024-25.

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