Ahmedabad (Gujarat) [India], November 17 : Adani Energy Solutions Limited (AESL), a key player in India's energy sector, has earned remarkable Environmental, Social, and Governance (ESG) ratings, reinforcing its commitment to sustainable practices, an official release stated.
According to a press release by Adani Group, in the July-September 2023 quarter, AESL demonstrated substantial improvement across various ESG parameters, positioning itself as a leader in responsible corporate practices.
AESL secured a corporate social responsibility and sustainability ratings (CSRHUB) rating of 86 per cent, surpassing the global Electric and Gas Utilities industry average.
This reflects the company's commitment to corporate social responsibility and sustainability.
With a score of 31.5, AESL outperformed the global Electric Utility Industry average of 32.1, placing it in the esteemed Global Top 40 of the Electric Utility Industry. A lower score indicates a better risk profile, showcasing AESL's dedication to risk mitigation in ESG aspects.
AESL received a stable 'BBB' rating from MSCI, highlighting its robust performance in environmental, social, and governance dimensions.
The FTSE ESG score of 4, up from 3.3, positions AESL well above the global electric utilities sector average of 2.7. The governance score of 5/5 further underscores the company's commitment to ethical business practices.
AESL is actively working towards achieving UN Energy Compact goals, including a target of 60 per cent renewable energy (RE) share in bulk energy procurement by FY27. The company has already reached a 38 per cent RE share. Additionally, AESL aims for a 40 per cent reduction in greenhouse gas (GHG) emission intensity by FY25 compared to the FY19 baseline.
Under its 1t.org commitment, AESL has planted 24.3 million mangroves and 3.28 million trees, contributing to the broader goal of planting 100 million trees by 2023 within the Adani Group.
Anil Sardana, Managing Director of AESL, expressed pride in these achievements and reiterated the company's dedication to sustainable change within the industry and on a global scale.
"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 the top 10 companies in the global context," stated Sardana.
AESL's commitment to responsible energy practices, coupled with its robust ESG performance, positions it as a frontrunner in the drive towards a sustainable and green energy future.
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