Adani Green: Asia's Leading ESG Performer
Adani Green Energy Limited (AGEL), the renewable energy subsidiary of the Adani portfolio and India's largest renewable power producer, has achieved an impressive feat in the renewable energy sector.
ISS ESG, a renowned rating agency, has ranked AGEL as the top company in Asia and among the top 10 globally. This recognition reflects AGEL's commitment to Environmental, Social, and Governance (ESG) practices and its pursuit of transparency and disclosure.
AGEL has earned a place in the prestigious 'Prime' (B+) band, highlighting the company's robust ESG disclosure practices and transparent operations.
This achievement brings AGEL closer to its goal of being ranked among the top 10 ESG companies globally in the electric utility sector by FY25. Notably, AGEL has already secured a position in the world's top 10 renewable energy companies, as acknowledged by Sustainalytics in FY23.
With an extensive operational renewable portfolio of 8,216 MW, AGEL holds the distinction of having the largest operating renewable capacity in India. Its operations actively contribute to environmental preservation, combat climate change, and facilitate the transition towards a sustainable energy system. AGEL also diligently addresses relevant social and environmental risks through dedicated management systems.
ESG principles are deeply ingrained in AGEL's business strategy and corporate ethos. By adhering to these principles, the company enhances its resilience, fosters a transformative culture, and creates long-term value.
AGEL systematically identifies opportunities, manages risks, and safeguards the interests of all stakeholders. As a pure-play renewable energy company, AGEL supports and contributes to India's decarbonisation objectives by generating and supplying renewable energy to the national grid. With a vision to lead a sustainable energy future, AGEL remains committed to addressing climate change, water scarcity, and the unsustainable consumption of natural resources.
Mr. Vneet S Jaain, Managing Director of Adani Green Energy Ltd., emphasises the company's ESG framework, which comprises guiding principles, policies, commitment, and assurance. AGEL aligns with esteemed initiatives such as the UN Global Compact, UN Sustainable Goals, India Business and Biodiversity Initiatives, Green Bond Principles, and IFC's E&S Performance.
The company's policies are designed in accordance with these guidelines, and ESG targets are set with their principles in mind. AGEL aspires to be among the top 10 electric utility companies globally in ESG benchmarking by FY25.
The ESG Corporate Rating conducted by ISS ESG offers comprehensive and forward-looking assessments of companies' ESG performance. Using a broad range of around 700 standard and industry-specific indicators, ISS ESG evaluates approximately 100 environmental, social, and governance-related factors for each rating.
AGEL has implemented a group-wide health and safety management system certified under ISO 45001 standards. The company also upholds a code of conduct for all employees and has specific policies addressing whistleblowing and corruption.
As an organisation, Adani Green develops, constructs, owns, operates, and maintains utility-scale grid-connected solar and wind projects. The electricity generated is supplied to government entities at the central and state levels, as well as government-backed corporations. In alignment with India's renewable energy ambitions, AGEL remains on track to achieve its target of reaching 45 GW of renewable energy capacity by 2030.
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Source: Adani Green
