New Delhi: Tata Power has achieved the highest Environment, Sustainability and Governance (ESG) score among its Indian peers in the recently released Corporate Sustainability Assessment (CSA) results of S&P Global.
“Giving credit to the company’s focus to become the most progressive and preferred green energy brand in India, Tata Power has performed well on all ESG parameters. Environment, Social and Governance. It scored 67 out of 100, scoring a score of 67 out of 100.” The average world electric utility sector (both Indian and global electric utilities inclusive) is well above the score of 38,” Tata Power said in a statement on January 7.
Consumer goods companies, those in carbon businesses, and even state governments are trying to join the ESG bandwagon, with ratings affecting the very nature of the way business is done, Mint reported. previously reported. ESG bonds have also taken the financial world by storm.
“The S&P Global CSA has been an annual assessment of companies’ sustainability practices since 1999 and has been a reliable reflection of companies’ sustainability practices. The assessment assessed more than 10,000 companies around the world on industry-specific and financially material issues. was,” the statement said.
At the COP 26 summit held in Glasgow in November, Prime Minister Narendra Modi pledged to increase India’s non-fossil fuel power generation capacity to 500 GW by the end of this decade and meet 50% of its energy needs from renewable sources .
Modi also promised to cut India’s total estimated carbon emissions by 1 billion tonnes by 2030 and reduce carbon intensity by less than 45% and achieve net-zero carbon emissions by 2070.
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