Varun Beverages Ltd: Best FMCG Corporate Governance India 2022

Varun Beverages Ltd (VBL) pursues ESG leadership as a way of life rather than an exercise in compliance. The company has been associated with PepsiCo for more than two and half decades, continuously expanding its product range, licensed territories, distribution network and ESG commitments.

VBL is the leading PepsiCo franchisee in India, with a presence across 27 states and seven union territories. It has established 37 manufacturing plants across India — its principal market and home base — as well as Nepal, Sri Lanka, Morocco, Zambia and Zimbabwe. A strong governance structure unites all operations and employees behind VBL’s commitment to good corporate citizenship. VBL provides refreshing beverages to billions of consumers through a sustainable ecosystem that creates positive impacts for the planet and people’s well-being. The company has established a cross-functional ESG task force composed of executive leadership, advisors, independent directors and various department supervisors. It practices responsible water stewardship and waste management while consistently ramping up renewable energies and reducing carbon emissions. VBL is expanding existing ESG policies throughout its contractor and supplier network. It prioritises the health and safety of employees and manages human capital with a focus on diversity and skills building. CSR initiatives — which promote healthcare, education, environmental sustainability and rural development — are also being assessed for impacts by independent agencies.

The CFI.co judging panel presents Varun Beverages — a repeat programme winner — with the 2022 award for Best FMCG Corporate Governance (India).