Marico Limited is known not only for its business but also for its impact on communities. Amit Bhasin, Chief Legal Officer and Group General Counsel at Marico Limited, explains that the company has a detailed sustainability and ESG programme, guided by a belief in giving back to society.
According to him, the focus areas include sustainable agriculture, water programmes, and education. When asked to identify the single most important development challenge, he points out that it is water. He mentions that water has become a problem too big for any one organisation to tackle alone, adding that water stress is no longer just an environmental concern but a systemic risk that calls for collective action.
Embedding Water Stewardship
Bansal notes that Marico has integrated water stewardship into its overall sustainability strategy, describing it as a key pillar. He says the company aims for 100% replenishment of the water it consumes in its operations and that the Jalgaon unit has already been water-neutral for a few years.
He adds that the company’s sustainability roadmap includes a commitment to replenish more water than it consumes each year.
He mentions that through scientific interventions and awareness efforts, Marico has achieved a cumulative water conservation potential of 444 crore litres, a figure he describes with pride. Since FY13, he says, the company has reduced its total water consumption intensity by nearly 54%, meaning that where it once used 100 units of water, it now uses almost half. According to Bansal, this achievement is the result of multiple initiatives under a multi-layered programme designed to address the issue comprehensively.
Shifting Compliance Landscape
Bansal observes that the regulatory environment has undergone a clear shift, with sustainability and ethical sourcing moving to the forefront. He notes that self-regulation has become the norm, meaning that companies are expected not only to comply with the law but also to act ethically, even when certain actions are not mandated.
He says this change mirrors the evolution of society, where consumer consciousness has risen sharply. People, he explains, are more aware and are increasingly vocal about social issues.
According to him, this is the direction in which the future of compliance is heading. He adds that sustainability and legal compliance will continue to go hand in hand, and that businesses acting responsibly and building trust with consumers and stakeholders will enjoy a competitive edge.
Staying Future-Ready
Bansal says that his counterparts have to examine their businesses closely and identify potential sustainability risks. He highlights that global frameworks are changing rapidly, and as legal counsels, it is essential to stay informed about global developments, understand stakeholder expectations, and assess internal risks — whether in product portfolios or operations.
He stresses the importance of having a solid plan and acting responsibly, as that is what the current environment demands. He concludes that ESG is an evolving space and will continue to evolve in the future as well.
