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Business Wire India
Licious, one of India’s meat, seafood & meat products company, announced their commitment to be compliant with the global ESG (Environmental, Social and Governance) norms during the current financial year. A focus on quality, sustainability & traceability has been a constant for Licious since inception. Taking a step further, the company is working towards a robust integration of sustainable development practices in their operations.

As a part of the process Licious will
 
  • Act as an environmentally responsible entity monitoring energy use, waste generation, pollution control, natural resource conservation, and animal welfare.
  • Will dedicate resources towards strengthening & creating a people-first organization which is inclusive & diverse. They will also continue to positively contribute towards the growth & welfare of the fishermen & farmer communities.
  • Maintain complete transparency in internal practices, controls, stakeholder engagement & regulatory compliance.

Says, Vivek Gupta & Abhay Hanjura, Co-Founders, Licious, "The companies of tomorrow would not be functioning on just the principles or profits anymore. Being responsible towards the environment, communities, employees & overall transparent governance will also feature high on their agenda. The way we look at this is, the two will act like mutually complementary forces and work towards unlocking the companies’ resilience.

Licious is a purpose driven organization that prides itself in being at the cutting edge of transformation of a hitherto largely ignored meat and fisheries industry that happens to be one of India’s largest agrarian sectors as well. With low/ no benchmarks around us, it is imperative that Licious constantly raise the bar for the industry. With our ESG commitment we have embarked on this journey once again! The aim really is for us to create a positive & meaningful impact for all our stakeholders."

Echoing the sentiment of the co-founders, Nikhil Khattau, MD, Mayfield Fund & Member- Board of Directors, Licious, said, "It is a noble mission & a lofty one. This calls for an all-hands-on-deck approach & the board is committed to supporting all endeavors of Licious in making it a category leading company that sets benchmarks across safety, quality and sustainability for the industry to follow."

An early investor & patron, Mr. T.V. Mohandas Pai, commenting on the development, said, "Startups in India are taking a leadership position in implementing environmental, social and governance (ESG) standards as a high-priority item in the scaling out of their operating businesses. New age businesses like Licious have the unique advantage of not only creating a vertical category, but also set the standards for customer safety and hygiene, supplier protections, and employee welfare. As a leader in this vertical, Licious has had a large and measurable positive impact on the fishermen and livestock farmers, improving their income and bringing predictability to their businesses. Licious' continued investments and commitments towards community welfare will be instrumental in the evolution of the ecosystem."

Ernst & Young has conducted an ESG compliance assessment for the company that has helped Licious put together a roadmap towards achieving ESG compliance. The company has also carved out an ESG and Sustainability division that is working directly with founders to meet the committed deadline.

Ankur Pahwa, Partner EY India, who has been involved in the project, commented saying "Although, India is still in the early stages of ESG evolution, it is great to see young companies like Licious show commitment towards being compliant and establishing processes that are scalable in the context of ESG practices."

An FSSC 22000 company, Licious has been disrupting the meat & seafood industry in India since 2015. The pledge towards receiving ESG compliance will be another category pioneering endeavor. The company operates in 14 Indian cities, with an ambition to expand both national & global footprints in the near future. Over the last FY, Licious has registered a 300% growth with a current monthly order volume of 1 mn.


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