Manufacturing of advanced material by keeping environment, social and governance (ESG) framework into consideration

Focus on cross-industry collaboration, rethinking about the process of manufacturing, and giving significant contribution to the society are there major goals of the AK technologies company to manufacturer products keeping three areas into consideration which includes environmental, social, and governance.

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An overview:

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AK technologies is an Indian based company, indulged in manufacturing semiconductors products which are used in various micro application such as automotive and more and wished to have international recognition.

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They also aimed in expanding their applications in wide variety of fiel

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Moreover, their most significant focus was on to boost their revenue by following ESG framework.

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Research Nester, analyzed environmental, social and governance (ESG) areas on behalf of AK technologies in order to drive customers’ faith in them long with earning investors trust. Further, this was set to offer competitive advantages to the company.

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Results

By the help of analysis, research nester was able to understand how much AK technologies having influence in the society. With this the AK technologies were able to generate share of about 14% in 2022, up from 2021 when share was 7%.

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The Story

Covid19 had greater influence on the green economy. In order to recover from the influence of pandemic, the recovery was planned to be more sustainable. As a result, advanced materials played a significant role in this. Therefore, research nester observed that this could be golden opportunity to AK technologies to boost the growth in the market. Research Nester observed that in this green economy initiatives, the more preference was given to the green technology. The goal of green technology was to create a sustainable and climate-neutral economy and society. Further, these goals were built around high-performance advanced materials. Additionally, AK technologies wanted to expand its application. However, environmental goals to follow was necessary for the growth of business. But somewhere, when expanding its business AK technologies was finding it challenging owing to various factors:

  • Lack of investment for the expansion keeping societal goals in consideration
  • Dispute in Labors
  • Disruption in supply chain

The Solution:

Research Nester made analyses on environmental, social and governance (ESG). Research Nester studied the policies practiced by the organization hence further stated some potential risk for the company to deal with first. AK technologies were able to make decision based on complete information provided by research nester. First, Research Nester made social analysis to understand the condition of the employees in the organization, and how satisfied are the consumer. Research Nester also analyzed the changing perspective of the consumer. Sustainability-related issues are receiving greater consumer attention than before. They need assurance that the companies they support are making efforts to save the environment and enhance social circumstances. As a result, this analysis helped AK technologies to build relationship with the consumer. In terms of climate change, social advancement, and good governance, it assisted them in more effectively tracking their objectives and progress. Secondly, the studied the environmental analysis to find any potential environmental dangers that could harm the company's operations and have an impact on climate change. This gave the business the chance to learn about their energy consumption, trash disposal methods, and ways to lessen their ecological impact in order to safeguard the environment and their bottom line. Thirdly, Research Nester did the governance analysis. Hence, all this gave the AK technologies to make changes in how their business function.

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Swara Keni

Head- Global Business Development

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