Renew Power Helped India Avoid 10 Million Metric Tons of Carbon Emissions
Article By : ReNew Power
ReNew Power has helped India avoid 10 million metric tons of carbon emissions, according to its recently released sustainability report for FY20-21.
ReNew Power, India’s leading renewable energy company, has helped India avoid 10 million metric tons of carbon emissions, according to its recently released sustainability report for FY20-21. The report, prepared in accordance with Global Reporting Initiative’s (GRI) sustainability reporting standards has been assured by a globally renowned assurance agency, DNV GL Business Assurance India Private Limited (DNV). The report puts into spotlight ReNew Power’s achievements across the three important pillars of Environment, Society, and Governance (ESG).
Report Highlights
- During the reporting year, ReNew Power’s commitment to environmental stewardship helped India avoid 0.5% of its Green House Gas (GHG) emissions, contributing significantly towards India’s quest to achieve the Nationally Determined Contributions (NDC) as pledged by the Government of India under the Paris agreement.
- By generating power through clean energy, ReNew helped the power sector avoid 1.1% of its GHG emissions. ReNew’s avoided emissions were more than 200 times that of its scope 1 & 2 emissions.
- The company has been critically monitoring its water footprint and has saved over 66,000 kiloliters of water by deploying robotic cleaning of solar panels.
- ReNew has undertaken steps to boost diversity and inclusion aimed at increasing the gender ratio in the Company. The Company has also received the Great Place to Work recognition twice and has been recognized among the best employers in India in the category this past year by Great Place to Work (GPTW).
- Financial contributions towards energy access, water conservation, COVID relief, women empowerment and community development helped over 400,000 people across 200+ villages in 9 states.
- ReNew Power continues to strengthen its governance mechanisms and is among the first companies in the sector to launch a ‘Sustainable Supply Chain Framework.’ Under this framework, ReNew will screen its suppliers on aspects such as human rights, minimum wages and forced and child labour among others.
- ReNew’s governance standards exceed requirements for global foreign listed entities on Nasdaq and has a majority independent and gender diverse Board.
“ReNew Power’s sustainability report is an account of our achievements in line with our vision of leading India’s energy transition from fossil fuels to clean energy. Our sustainability report clearly outlines how India’s environment is positively impacted through our actions. Sustainability is central to our business and ReNew Power’s mission is to play a pivotal role in meeting India’s growing energy needs in an efficient, sustainable, and socially responsible manner,” said Sumant Sinha, Founder, Chairman and CEO, ReNew Power.
“The sustainability report comes at a critical juncture as the world is realizing the dangers of climate change and the importance of shared responsibility. At ReNew Power, we are committed to going the extra mile with all relevant stakeholders to create a better society and better planet. ReNew’s growth over the past decade is a testimony to the fact that companies with a purpose can provide great value to their shareholders and investors,” said Vaishali Nigam Sinha, Chief Sustainability Officer and Chair ReNew Foundation.
