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Tata Power tops Crisil's ESG scores for power companies

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Mumbai (Maharashtra) | July 29, 2021 2:45:18 PM IST
Tata Power said on Thursday it secured the highest score among peers in Crisil's recently launched environmental, social and governance (ESG) scores.

The S&P Global company is India's foremost provider of ratings, data, research, analytics and solutions.

Tata Power said it is committed to the vision of empowering a billion lives through sustainable, affordable and innovative energy and has fared well on all ESG parameters and scored 67 out of 100.

It scored 61 on environmental parameters and 60 and 77 on social and governance parameters respectively.

As a part of its 2.0 business plan, Tata Power is focusing especially on the environmental pillar and has taken decisions towards no coal-based expansion on the generation side, expansion of renewable footprints (80 per cent by 2030 from 30 per cent currently) through utility business; development of robust EV charging infrastructure in the country et al.

The company said it is confident of achieving carbon neutrality much before 2050 and aspires to become a global leader in utility sustainability practices. It has also developed a clear roadmap to achieve 100 per cent water neutrality and zero waste to landfills by 2026.

Crisil in its recent report announced the ESG scores of 225 companies across 18 sectors in India factoring in their track record and disclosure standards.

This includes a relative pan-sectoral assessment of all material ESG parameters relevant in the Indian context and is based on information available in the public domain and third-party providers.

Tata Power has also identified key focus areas like renewable footprints, carbon emission, resource availability, waste management and biodiversity. It has also set emission reduction targets in alignment with the Science-Based Targets initiative (SBTi). (ANI)

 
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