TVS Eurogrip

About

• Industry: Manufacturing
• Company: Public (NSE: TVSSRICHAK)
• Number of Employees: 2,740
• Headquarter: Madurai, India
• Global Presence: 90+ Countries
• ESG Needs: BRSR, GHG (Scope 1,2,3), ESG Training

Company Overview

TVS Eurogrip is a globally recognized leader in the tire industry, specializing in the design, development, and manufacturing of high-performance tires for a diverse array of vehicles. TVS Eurogrip is a brand of tires manufactured by TVS Srichakra Limited. With operations spanning over 90 countries, the company is committed to delivering superior, cost-effective tire solutions while upholding stringent safety and sustainability standards.

TVS Eurogrip integrates responsible business practices across its operations, ensuring alignment with international environmental, social, and governance (ESG) frameworks. This commitment drives sustainable growth and creates long-term value for its stakeholders.

Project Overview

To strengthen its ESG reporting framework and align with evolving regulatory expectations, TVS Eurogrip partnered with Oren to develop a comprehensive Business Responsibility and Sustainability Report (BRSR). This collaboration aimed to enhance data accuracy, ensure compliance with SEBI’s sustainability disclosure requirements, and promote greater transparency for stakeholders.

Oren brought specialized expertise in greenhouse gas (GHG) accounting, ESG data validation, and BRSR training to the table. While TVS Eurogrip led the initial data collection efforts, Oren played a pivotal role in verifying the accuracy of ESG data, conducting detailed emissions assessments, and equipping internal teams with the necessary skills and knowledge to meet compliance standards and elevate their reporting practices.

Key Challenges

• Regulatory Compliance: Ensuring that the BRSR report adhered to SEBI guidelines while staying aligned with evolving ESG disclosure requirements.
• Data Accuracy and Validation: Enhancing the credibility and reliability of sustainability disclosures by refining and validating ESG and GHG data.
• GHG Emissions Measurement: Conducting a comprehensive assessment of Scope 1, 2, and 3 emissions across all locations, including two manufacturing facilities, to establish a baseline for carbon footprint reduction strategies.
• Capacity Building in ESG Reporting: Strengthening internal expertise by educating teams on BRSR frameworks, ESG principles, and sustainability best practices to ensure long-term reporting consistency

Oren’s Solutions

Oren implemented a structured, data-driven approach to support TVS Eurogrip in overcoming these challenges:

• BRSR Report Development: Oren provided strategic guidance in preparing a robust, fully compliant BRSR report, ensuring alignment with SEBI regulations and industry best practices.
• GHG Accounting: Oren conducted a detailed evaluation of Scope 1, 2, and 3 emissions across all TVS Eurogrip locations, including 2 manufacturing facilities, to support emissions reduction planning.
• Data Validation and Standardization: Strengthened data accuracy and reliability through a rigorous validation process, cross-referencing input data against invoices, documentation, SOPs, and policies to enhance transparency and accountability.
• BRSR Training and Knowledge Building: Delivered specialized training programs on BRSR and ESG principles across multiple departments—including HR, Finance, Compliance, Operations, Planning, and Safety—empowering teams with the expertise needed to manage sustainability reporting with confidence.

Key Outcomes

• Successful BRSR Report Submission: TVS Eurogrip published a fully SEBI-compliant BRSR report, reinforcing its commitment to sustainability and regulatory adherence.
• Enhanced GHG Accounting: The company now operates with a structured and validated emissions inventory, enabling more precise and data-driven carbon reduction strategies.
• Improved ESG Data Integrity: Oren’s rigorous data validation processes strengthened the credibility of TVS Eurogrip’s sustainability disclosures, fostering greater trust among investors and stakeholders.
• Capacity Building for Long-Term ESG Success: Internal teams gained a deeper understanding of ESG principles and reporting requirements, ensuring sustained compliance and seamless integration of sustainability into business strategy.

By collaborating with Oren, TVS Eurogrip has significantly strengthened its ESG reporting framework, improving compliance, transparency, and strategic sustainability planning. The company is now well-equipped to navigate evolving regulatory landscapes while driving long-term value through responsible and sustainable business practices.