- The company plans to lower its GHG (greenhouse gas) emission by 29.4% across all scopes by 2027
India’s largest renewable energy company, ReNew Energy Global PLC, has recently announced its commitment to become a net-zero firm by 2040.
According to a statement published by the firm, ReNew Energy Global has recently revealed its ESG (environmental, social and governance) targets along with a commitment to touch net zero emissions by 2040 via its latest sustainability report for 2021-22.
Apparently, the 2040 commitment is 30 years ahead of India’s 2070 target and is more driven as compared to the net-zero targets of several other global energy companies, the firm claimed.
As per sources, ReNew intends to lower GHG (greenhouse gas) emissions by 29.4 % across all scopes by 2027. It is also looking forward to reducing GHG emissions by 90% across all scopes by 2040.
The firm plans to achieve this by leveraging a comprehensive programme of measures. These comprise energy efficiency upgrades across offices and sites, evaluating low-carbon footprint raw materials, electrification of fossil-fuel-based equipment, clean energy procurement, and exploring green logistics for transportation.
Speaking on the latest move, Sumant Sinha, Chairman and CEO of ReNew Energy Global PLC, stated that considering the global economic and political uncertainty as well as the rising impact of climate change, ReNew has been working diligently to address India’s climate and energy security.
Sumant further stated that ReNew had amplified its efforts with global partnerships, including partners for global decarbonization in green hydrogen, energy storage, and carbon markets.
Moreover, the company also looks forward to meeting a broader range of ESG goals, including renewable energy procurement and water positivity for its operations and zero waste to landfill.
These targets were announced as part of the recently unveiled sustainability report, ‘Partnering for transition, progressing sustainably, prospering together'.
Source credit - https://www.moneycontrol.com/news/business/renew-pledges-to-be-net-zero-firm-by-2040-9419141.html