Sustainable Saturdays: ESG Health Chronicles

Section 1 - ESG Insights: Navigating the Governance Impact of India's Healthcare Sector

The "G" in ESG stands for governance, which involves how decisions are made within a company. This includes things like who is in charge, how they're chosen, and how they're held accountable. Good governance means having fair and transparent rules, diverse leadership, and being honest with shareholders. It also means having strong systems to prevent things like bribery, corruption, and cyber-attacks, and listening to feedback from everyone involved, like shareholders, employees, and regulators. The aim is to ensure responsible and transparent governance practices that respect the interests of all stakeholders and promote ethical conduct in business operations.

India Business Responsibility and Sustainability Reporting(BRSR) Core – Governance Pillar Metrics

Section 2 - ESG Governance Pillar Case Study: Metropolis Healthcare

Board Composition and Governance Oversight

Metropolis Healthcare's Board comprises a balanced mix of Executive and Non-Executive Directors, adhering to regulatory requirements and ensuring effective leadership.

Fraud Reporting and Related Party Transactions

The auditors have not reported any instances of fraud under Section 143(12) of the Companies Act, 2013 in the FY2022-23, reflecting the company's commitment to ethical practices and integrity.

Metropolis Healthcare has a robust Related Party Transaction Policy in place, aligned with regulatory requirements, and ensures transparency in all related party transactions through regular review by the Audit Committee and the Board.

Adherence to NGRBC Principles

Principle 1: Ethical Governance

The company conducts regular training and awareness programs for its Board of Directors, Key Managerial Personnel, employees, and workers, covering topics such as regulatory updates and strategic ways of working.

No fines, penalties, or disciplinary actions related to bribery or corruption were reported, highlighting the company's commitment to ethical practices.

Although the company doesn't have a formal anti-corruption policy, it ensures integrity and transparency in its operations.

Principle 4: Stakeholder Engagement

Metropolis Healthcare actively engages with internal and external stakeholders including employees, franchised lab partners, customers, government/regulators, and investors/shareholders through rigorous processes. Various communication channels, such as emails, surveys, and company updates, facilitate engagement with all stakeholders. The company is in the process of identifying and engaging with vulnerable/marginalized stakeholder groups to address their concerns effectively.

Principle 7: Responsible Policy Influence

Metropolis Healthcare affiliates with trade and industry chambers/associations like NATHealth, demonstrating responsible engagement in public and regulatory policy.

No adverse orders or actions related to anticompetitive conduct were reported, indicating responsible policy influence practices.

Principle 9: Consumer Responsiveness

The company has robust mechanisms in place to receive and respond to consumer complaints and feedback. Customers can register complaints through the Company’s website, dedicated email, call center, and patient service centers. All complaints are logged, resolved, and communicated to the customers. The company utilizes a 'Net Promoter Score' Survey feedback system to assess customer experience with the Metropolis brand, aiming to measure customer loyalty and satisfaction for service improvement. As per BRSR 2023 Report, the Net Promoter Score stands at 85. It's likely that a significant portion of Metropolis Healthcare's customers fall into promoters’ category that indicates strong loyalty to the brand.

Furthermore, the Company has a policy on cybersecurity to ensure the safety of consumer data. Metropolis Healthcare also educates consumers about safe and responsible product usage through various channels such as banners and videos.

Metropolis Healthcare's commitment to responsible business conduct is evident through its adherence to the National Guidelines on Responsible Business Conduct (NGRBC) principles. The company ensures transparency and integrity across its operations, with mechanisms in place for stakeholders to voice concerns and grievances. Through its governance structure, transparent communication practices, and adherence to regulatory guidelines, Metropolis Healthcare upholds its commitment to responsible and transparent business practices, fostering trust among stakeholders and ensuring long-term sustainability.

Section 3 - Sustainable Memories: Embracing the Neem Datun Tradition

I have fond memories of my grandfather's peaceful morning routine – a gentle walk followed by returning home with a neem datun in hand. His pearly white teeth, devoid of any dental issues, stood as a testament to the power of this age-old practice. While I once tried the neem datun myself, its bitter taste deterred me from making it a habit. However, recent revelations about the environmental impact of plastic toothbrushes have prompted me to reconsider.

Did you know that in the U.S. alone, over 1 billion toothbrushes are discarded each year? If laid end to end, they could encircle the Earth four times over. This eye-opening fact from Foreo underscores the urgent need for sustainable alternatives to curb plastic waste.

The story of the toothbrush dates back to ancient civilizations like Babylon, where twigs were chewed for dental hygiene. However, the advent of synthetic materials, particularly plastic, has led to an environmental menace. Plastic toothbrushes, with their non-biodegradable composition, contribute to pollution, harm marine life, and release harmful chemicals during disposal.

Amidst this crisis, the humble neem datun emerges as a beacon of sustainability and oral health. Used for centuries in India, neem twigs offer a plethora of benefits including whitening teeth, gum strengthening, control harmful bacteria and eliminating bad breath.????

Beyond oral health, neem trees play a crucial role in environmental conservation by keeping the environment cooler. The central government plans to increase the number of neem trees in the country, aiming for one tree for every 10 Indians. Additionally, plans are underway to use neem trees in reclaiming wastelands, potentially earning carbon credits.

By embracing the use of neem twigs or planting neem trees, we can all contribute, even in a small way, to a healthier planet for future generations.

Follow us on LinkedIn for more updates, and let's make every Saturday count for sustainability. Join the conversation using #SustainabilitySaturdays.

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