India (Commonweath Union)_ ReNew Energy Global PLC, a top provider of renewable energy, unveiled its ESG goals for FY 2021–2022, including a pledge to achieve net zero by 2040. The 2040 pledge is more aggressive than many international energy corporations’ net zero ambitions and is 30 years ahead of India’s 2070 goal.
ReNew plans to do this through a wide-ranging program of actions. This will entail increasing energy efficiency across all offices and sites, purchasing clean energy, electrifying equipment powered by fossil fuels, encouraging suppliers to set SBTi-aligned targets, assessing raw materials with low carbon footprints, and investigating green logistics for transportation.
The corporation has also committed to achieving a wider set of ESG objectives, such as 30% female employment, water positivity, zero waste to landfill, and ESG risk management. Other objectives include positive impacts on 2.5 million lives through CSR efforts. ReNew will use internal governance procedures and outside audits to track its progress toward these goals, and it will present its findings in its annual sustainability report.
These goals were stated in the recently issued sustainability report, “Partnering for Transition, Progressing Sustainably, Prospering Together”. The Board of the Company and community leaders in Jaisalmer, Rajasthan, launched the report. In the last year, ReNew’s clean energy activities prevented almost 11 million tons of carbon emissions, as shown in the study. ReNew has been working hard to solve India’s energy and climate security, according to Sumant Sinha, Chairman and CEO of ReNew Energy Global PLC, who spoke at the report’s introduction. We have stepped up our efforts by forming international alliances, including commercial partners for global decarbonization in sectors including carbon markets, green hydrogen production, and energy storage, he said.
ReNew has partnered with like-minded organizations like Fluence, L&T, Indian Oil Corporation, World Economic Forum, UNEP India, UNDP India, UN Global Compact Network India, Associated Chambers of Commerce and Industry, South Asian Women in Energy, and IIT-Delhi in order to scale up its initiative on the social and environmental fronts and to harness the power of the collective.
