Adani Energy Solutions marches ahead in Sustainable Practices with Outstanding ESG Global-Ratings

Adani Energy Solutions marches ahead in Sustainable Practices with Outstanding ESG Global-Ratings

FPJ BureauUpdated: Friday, November 17, 2023, 04:58 PM IST
article-image
Wikipedia

Adani Energy Solutions Limited (“AESL”), part of the globally diversified Adani portfolio, the largest private transmission and distribution company in India, today revealed its July-September 2023 quarter (Q2FY24) ESG performance ratings by various third-party firms.

AESL received an impressive score of 86% from CSRHUB, a leading global ESG performance rating agency. AESL’s score surpasses the Electric & Gas Utilities industry average done amongst among 911 global companies.

Sustainalytics, a global leader in ESG research and data and serving the world’s leading institutional investors and corporations, has awarded AESL an ESG Risk Rating of 31.5, outperforming the global Electric Utility Industry average of 32.1 (a lower score indicates a better risk profile).

This achievement places AESL in Global Top 40 of Electric Utility Industry.

MSCI has assigned AESL a stable ESG rating of 'BBB', underscoring AESL’s dedication to robust ESG performance. MSCI (Morgan Stanley Capital International) is a leading global provider of stock market indices and portfolio analytics tools.

FTSE (Financial Times Stock Exchange), a renowned global index provider, has reaffirmed AESL's status as a constituent of the FTSE4Good index series, accompanied by a notable improvement in ESG score from 3.3 to 4. This places AESL well above the global electric utilities sector average of 2.7. AESL's governance score stands at an impeccable 5/5, with a social score of 4/5 and an environment score of 3.3/5.

AESL is well on track to achieve UN Energy Compact goals, including a target of 60% renewable energy (RE) share in bulk energy procurement by FY27, with the current RE share already reaching at 38%.

Furthermore, AESL is making significant strides in reducing GHG (greenhouse gas) emission intensity, aiming to achieve a 40% reduction from the FY19 baseline by FY25.

AESL, through its portfolio of transmission projects, is a significant contributor of building transmission corridors connecting RE generation to the national grid.

In addition to these accomplishments, under its 1t.org commitment, AESL has planted 24.3 million mangroves and 3.28 million trees.

"We are proud of these remarkable achievements and remain dedicated to driving sustainable change in our industry and beyond to be a torch bearer of this benign cause and be within top 10 companies in global context," stated Mr. Anil Sardana, Managing Director, AESL.

For more information about AESL and our sustainability efforts, please visit our sustainability webpage.

RECENT STORIES

Babus, mantris & buzz: In next term of Modi it will be turn of corrupt BJP leaders?

Babus, mantris & buzz: In next term of Modi it will be turn of corrupt BJP leaders?

ONGC Mumbai High a national treasure: Petroleum Minister Hardeep Puri

ONGC Mumbai High a national treasure: Petroleum Minister Hardeep Puri

Lieutenant General Upendra Dwivedi Takes Over As Vice Chief Of The Army Staff From Lieutenant...

Lieutenant General Upendra Dwivedi Takes Over As Vice Chief Of The Army Staff From Lieutenant...

REC receives 'Innovative Technology Development Award' at IIT Madras

REC receives 'Innovative Technology Development Award' at IIT Madras

Adani Electricity Ushers in a New Era of Power Reliability for Mumbai with India's First Advanced...

Adani Electricity Ushers in a New Era of Power Reliability for Mumbai with India's First Advanced...