Sector map: FMCG
Intuition
A consumer goods company's own factories are only a small part of its footprint. Most of its emissions and water use sit in the farms that grow its raw materials, and most of its waste problem sits in the packaging that ends up with consumers. That makes plastic packaging and responsible sourcing the key ESG issues. Brand trust also depends on product safety, health claims and honest marketing.
Mechanics
Material issues
| Issue | Financial channel | Where to find data | Metric to track |
|---|---|---|---|
| Plastic packaging and EPR | EPR certificate costs, packaging redesign capex | BRSR Principles 2 and 6; EPR filings | Tonnes of plastic packaging; recycled content; EPR targets met |
| Agricultural sourcing | Input cost volatility, supply disruption, reputation | Sustainability reports; BRSR value chain data | Share of certified or traceable key commodities, such as palm oil |
| Water | Plant disruptions; farm yields in the supply chain | BRSR Principle 6 | Water per tonne of product; plants in water-stressed areas |
| Product health and safety | Recalls, regulation, demand shifts | BRSR Principle 9 | Recalls; complaints; share of healthier products |
| Scope 3 emissions | Customer and investor pressure, future carbon costs | BRSR Principle 6 and sustainability reports | Scope 3 share of total; supplier targets |
Indian rules to know
- Plastic packaging EPR: under the Plastic Waste Management Rules and the EPR guidelines of February 2022, producers, importers and brand owners must meet collection, recycling and recycled-content targets, usually by buying EPR certificates.
- BRSR value chain: listed companies may disclose ESG data for their main value chain partners, voluntarily from FY 2025-26.
Sources
From the research
A Comparative Financial Analysis of Three Listed Companies
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ValuationPaytm: Valuing a Company With No Clean Comparable
Paytm is part payments processor, part device business, part loan distributor. Why no single peer fits, and how to value it in parts and in reverse.
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