Indian clean energy company ReNew Energy Global has made a commitment to achieve net zero carbon emissions by 2040.
It intends to achieve the goal through various measures including energy efficiency improvements across offices and sites, clean energy procurement, electrification of fossil-based equipment, evaluating low carbon raw materials and exploring green logistics for transportation.
It also plans to encourage its suppliers to set targets aligned with the Science-based Targets initiative (SBTi).
In addition, the company is pledging to meet a broader range of ESG goals, including water positivity, renewable energy procurement for its operations, zero waste to landfill as well as ensure 30% of women are part of its workforce.
ReNew – whose net zero target is 30 years ahead of India’s 2070 goal – will monitor the progress of its targets through internal governance mechanisms and external audits, with the results reported in its annual sustainability report.
The company generated 14,263GWh of clean electricity, enough to power four million Indian households, over the last year.
It also avoided more than 11 million tons of carbon emissions through its clean energy operations during the same period.
Sumant Sinha, Chairman and CEO ReNew Energy Global PLC said: “In the recent context of global economic and political uncertainty and the increasing impact of climate change, ReNew has been working tirelessly towards addressing India’s energy and climate security.
“We have amplified our efforts with global partnerships including business partners for global decarbonisation in the areas such as energy storage, green hydrogen and carbon markets. We have also built strong relationships with academia, think tanks and industry associations for innovative research and development.”