New Delhi: ReNew Energy Global Plc on Thursday said that it has avoided 14.1 million tonne of carbon emissions in the financial year 2022-23, a figure which is approximately 400 times greater than its own Scope 1 and 2 emissions for the same period. The company also noted a 48% year-on-year increase in water savings, conserving over 318,708 kiloliters.
In its latest Sustainability Report, the firm disclosed that it produced 17,385 GWh of clean energy during the fiscal year, enough to power five million Indian households annually. The report highlighted the company’s strategic progress towards its net-zero targets by 2040, which have been validated by the Science Based Targets initiative (SBTi).
ReNew’s board exemplifies gender diversity, with 40% representation, aligning with global benchmarks. The company’s corporate social responsibility initiatives have reportedly reached over one million individuals across 500 villages in India.
Sumant Sinha, Founder, Chairman, and CEO, ReNew, said: “In the last year, we have continued to expand our work to decarbonize energy, supporting India’s transition to a greener future. As we enable the decarbonization journey of businesses and individuals across the world, we want to evaluate ourselves on the metrics that really count. We are committed to being transparent and accountable to our stakeholders and to society at large, and this report is a testament to that commitment.”
Vaishali Nigam Sinha, Co-Founder and Chairperson – Sustainability, ReNew. said: “We measure the true value and success of our business by our financial performance and our environmental, social and governmental impact. We have set ambitious and measurable goals in each of these areas, such as reducing our carbon footprint, enhancing our social contribution, and promoting inclusivity and diversity in our workforce. We are committed to supporting the United Nations’ Sustainable Development Goals (SDGs), which guide our efforts to address the most pressing challenges facing humanity. We believe that sustainability is not only a responsibility but also an opportunity to innovate and transform our business for the better.”The report also showcases ReNew’s partnerships with key industry players and institutions aimed at global decarbonization and sustainable development.