ESG Policy
1 Introduction
1.1 About Libas
Zivore Apparel Private Limited (“LIBAS”, “Client”) is a D2C brand in fast fashion women's ethnic wear space under the brand name ‘Libas’. Their marketplace comprises of all major e-commerce platforms i.e., Myntra, Flipkart and Amazon. The Company products are present in Lifestyle, Trends and Central in ~404 stores and ~230 MBOs across Delhi, UP, Haryana, Mumbai, Ranchi, etc. in October 2024. The Company has a 1.5 lakh sq. ft. mother warehouse in Noida and other warehouses in Bangalore, Bhiwandi, Kolkata and Gurgaon. The Company also has ~18 Exclusive Brand Outlets (EBOs) across the country.
1.2 Background of ESMS
The Company was established in 2022 and has been growing rapidly ever since. The Company understands that as it grows, it is susceptible to Environmental and social (E&S) risks and opportunities. Project activities have the potential to interact with the environment, its workers, the primary supply chain, and the communities in which it operates adversely and beneficially. Therefore, it aims at building a more sustainable and holistic business foundation, taking into account all possible business dynamics at the intersection of E&S.
The Company has developed this E&S Policy in alignment with national and international E&S safeguards to identify, assess, manage, and monitor the E&S risks and impacts on their business operations.
1.3 Reference Framework
The E&S policy of LIBAS takes into consideration the following reference frameworks in expressing the Company’s E&S commitments:
a) Applicable Indian environmental, occupational health & safety and employee welfare regulations
b) Environment and Social Management System of IAF5
c) International Finance Corporation’s Performance Standards 2012 (referred as IFC-PS)
d) World Bank (WB) Group’s Environmental, Health & Safety (EHS) Guidelines – General and Textile manufacturing
2 E&S Policy and Principles
2.1 E&S Policy Statement
The ESG Policy of Libas states its commitment towards integrating E&S considerations in its business processes.
|
Libas Environmental & Social Policy Statement At Libas, we are committed to being a responsible D2C brand in the fast fashion women's ethnic wear space. As a brand dedicated to celebrating the rich cultural heritage of ethnic wear while maintaining modern sensibilities, we recognize the importance of integrating Environmental & Social considerations into our business operations. Our commitment extends across all aspects of our e-commerce operations, warehousing & sourcing practices. The ESG Policy objectives are: a) Ensure compliance with all applicable local, state, and national E&S regulations and investor safeguards. b) Identify, evaluate and address E&S risks and impacts of the existing and planned facilities c) Ensure efficient use of resources and minimize adverse environmental impacts of our operations. d) Provide and promote a safe, healthy, respectful workplace and foster sound worker- management relationship e) Ensure health and safety, fair and respectful treatment of customers and deliver sound products. f) Ensure fair and ethical business practices that promote human rights, labour standards, and diversity and inclusion. g) Engage with stakeholders on a periodic basis for continuous feedback, improvement, and grievance redressal h) Disseminate knowledge on our environmental and social policy, procedures and practices to all relevant stakeholders. i) Encourage sourcing fabrics from suppliers who adhere to environmentally friendly practices, including reduced chemical use. LIBAS is committed to complying with Environmental & Social Policy and will establish, implement, and maintain necessary systems and build organizational capacity.
Date: 08/01/2025 Authorized Signatory Libas |
2.2 E&S Operational Principles
The E&S Policy statement of Libas is supported by the following operational principles.
A. E&S Compliance in Business Operations
-
Identification and compliance to all relevant national, state and local E&S policy and legislative requirements including labour laws in India
-
Compliance to international E&S safeguards and strive for adherence to best practices relevant to the business operations including:
o Environment and Social Management System of IAF5
o International Finance Corporation’s Performance Standards 2012 (referred as IFC-
PS)
o World Bank (WB) Group’s Environmental, Health & Safety (EHS) Guidelines –
General and Textile manufacturing
B) Good Working Condition
-
-
Treating all employees fairly and reasonably in terms of recruitment, remuneration and career progression irrespective of gender, race, colour, language, disability, political opinion, age, religion, or national/social origin.
-
Providing for fair, transparent, and timely redressal of grievances reported.
-
Preventing sexual harassment of women.
-
Not employing forced or child labour.
-
C) Safe and Healthy Workplace
-
-
Providing safe and healthy working conditions to all employees and mitigate work related health impacts and accidents.
-
Ensuring emergency preparedness at all times and developing response systems at the facilities commensurate with the risks identified.
-
Provide training, tools, and protective equipment to workers, as appropriate, to ensure safe work.
-
D) Resource efficiency and Pollution Control
Reduce material and energy inputs and minimize waste generation.
-
Adopt appropriate controls to manage pollution generated in the form of wastes and emissions in an environmentally sound manner.
E) Engagement & Remedy
- Engaging in dialog with relevant stakeholders at appropriate stages of business operations with due consideration to the disadvantaged and the vulnerable stakeholders.
-
Communicating the E&S Policy and underlying procedures (as relevant) to all stakeholders through appropriate mechanisms.
-
Providing fair, transparent, and timely redress of internal and external grievances reported in written or verbal format by all stakeholders.
F. Primary Supply Chain
- Assessing E&S risks of the primary supply chain and engaging with legitimate businesses. Discouraging employment of child labour and forced labour in the primary supply chain.
- Requiring the primary supply chain to obtain all licenses and permits applicable to the business.
- Influencing the primary supply chain to fulfil the requirements under national labour laws, pay fair wages, and provide good working conditions.
- Prioritize sourcing of eco-friendly materials and fabrics with certifications that ensure minimal environmental impact (e.g., organic, recycled, or low-impact dyes).
3 E&S Policy Implementation
3.1 Approval and Communication
The E&S Policy and Principles have been presented to the Board and duly approved. The E&S Policy shall be applicable to all business operations and services rendered by the Company from the date of issue of the policy document.
The signed E&S Policy statement shall be prominently displayed in the company offices and communicated to all employees through induction and training programs.
The E&S Policy and Principles shall be communicated to other relevant stakeholders, such as investors, shareholders, business partners, primary suppliers as relevant. The E&S Policy shall also be made available to all other concerned stakeholders on request.
3.2 E&S Management System
All employees both direct and indirect (those engaged through third parties) are expected to conduct themselves in conformance with the E&S Policy in letter and spirit.
Under the E&S Policy, procedures for E&S risk and impact identification, management and monitoring have been developed and integrated with the business processes. Procedures for addressing the significant E&S risks and impacts have been developed. The institutional structure with roles and responsibilities of various departments towards implementation of the E&S Policy have been defined. These are presented in the Part II: E&S Management System Manual.
The E&S Policy and ESMS shall be reviewed by the top management, at least once in three years or when there is a major operational change, to ensure its continuing suitability, adequacy, and effectiveness.
3.3 Application of ESMS
The E&S Policy and Principles along with the ESMS will be applicable to all activities, existing and future, undertaken by the Company in India.
