ReNew Power's Sustainability Report: Achieving Carbon Neutrality, Net Zero Targets, and Collaborative Leadership
ReNew Power, India's trailblazing clean energy pioneer, is making a resounding commitment to a sustainable future. In its latest sustainability report, ReNew Power not only embraces the challenge of achieving net zero by 2040 but also sets its sights on a broader array of ESG goals.
Here are the report highlights that underscore ReNew's unwavering dedication:
By successfully avoiding over 11 million tons of carbon emissions in FY22, ReNew Power has made a significant impact, equivalent to 0.5% of India's total emissions.
In the same period, ReNew Power harnessed an awe-inspiring 14,263 GWh of clean energy, an output capable of energizing four million Indian households annually.
ReNew's water-saving efforts have been remarkable, preserving an impressive 216,000 kiloliters of water in FY22. This amount is ample to cater to the daily water needs of 1.6 million people in India.
Demonstrating a commitment to transparency, ReNew has divulged its Scope 3 greenhouse gas (GHG) emissions for the first time.
Leading the charge, ReNew Power is spearheading India's race toward sustainability. Their net zero commitment by 2040 surpasses the goals set by both India itself, which aims for 2070, and numerous global energy giants.
To bring this vision to fruition, ReNew Power has laid out an extensive strategy, encompassing various measures:
Initiatives to enhance energy efficiency will be implemented throughout their offices and sites.
Clean energy procurement will be prioritized, driving a transition away from fossil fuels.
Fossil-fuel-based equipment will be replaced with efficient electrified alternatives.
Suppliers will be encouraged to adopt targets aligned with the Science-Based Targets initiative (SBTi).
A thorough evaluation of low carbon footprint raw materials will be conducted.
Innovative green logistics solutions will be explored for transportation purposes.
Beyond their net zero commitment, ReNew Power is also committed to meeting a wider range of ESG goals. These include achieving water positivity, procuring renewable energy for their operations, eliminating waste sent to landfills, positively impacting the lives of 2.5 million individuals through CSR initiatives, promoting a workforce with 30% women representation, and implementing robust ESG risk management practices.
ReNew Power's progress towards these ambitious targets will be meticulously monitored through internal governance mechanisms and external audits. The results of these assessments will be shared transparently in their annual sustainability report.
ReNew Power is rewriting the future of clean energy in India, ushering in a greener, more sustainable era. Join us on this remarkable journey towards a brighter, cleaner tomorrow.
ReNew Power, a true catalyst for change, has just unveiled its groundbreaking sustainability report titled "Partnering for Transition, Progressing Sustainably, Prospering Together." This eagerly anticipated release was celebrated with great enthusiasm as the Company's Board, together with esteemed community representatives, gathered in Jaisalmer, Rajasthan.
The report's pages radiate with incredible achievements, demonstrating ReNew Power's unwavering commitment to combatting climate change. Over the past year alone, ReNew Power spearheaded the avoidance of a staggering 11 million tons of carbon emissions through its innovative clean energy operations.
But that's not all. ReNew Power's tireless efforts have generated a monumental 14,263 GWh of clean electricity, an astonishing amount capable of illuminating the lives of four million Indian households. By accomplishing this feat, ReNew Power has contributed to a reduction of 0.5% in India's annual carbon emissions. The cherry on top? ReNew Power's carbon intensity of electricity generation stands at a remarkable 32.83 gCO2/KWh, a striking 95% lower than the Indian power sector's average and an astounding 94% lower than the global average.
Embracing a spirit of transparency and accountability, ReNew Power has boldly disclosed its Scope 3 greenhouse gas (GHG) emissions as part of this groundbreaking report. In doing so, ReNew Power joins an elite group of companies committed to openly sharing their GHG emissions, including those stemming from their supply chain. This unprecedented transparency sets a new benchmark for the industry.
In alignment with its steadfast ESG target of water positivity, ReNew Power proudly announces its achievement of saving over 216,000 kiloliters of precious water resources. This remarkable accomplishment was made possible through the deployment of state-of-the-art robotic cleaning equipment, marking an incredible increase of over 225% compared to the previous year.
ReNew Power's sustainability report is a testament to their unwavering dedication to a greener future. Their remarkable accomplishments serve as an inspiration for companies worldwide, as they continue to innovate and spearhead transformative change. Together, let us forge a sustainable path towards prosperity for all.
“In the recent context of global economic and political uncertainty and the increasing impact of climate change, ReNew has been working tirelessly towards addressing India’s energy and climate security. We have amplified our efforts with global partnerships including business partners for global decarbonization in the areas such as energy storage, green hydrogen, and carbon markets. We have also built strong relationships with academia, think tanks and industry associations for innovative research and development,” said Sumant Sinha, ReNew Energy Global PLC’s Chairman and CEO.
“ReNew’s core purpose is to address climate change, and we strongly believe that this cannot be achieved without an inclusive and equitable society. This report puts in perspective not only the positive impact that ReNew has been able to create from an environmental standpoint, but also from a social angle and the value it has co-created with its stakeholders. With a model, all women site at the ground level, a majority independent board, and 30% gender diversity at the board level, ReNew is clearly walking the talk,” said Vaishali Nigam Sinha, ReNew Foundation’s Chief Sustainability Officer.
ReNew Power's vision extends far beyond clean energy. Driven by a profound commitment to foster a just transition, one that encompasses inclusivity, holistic development, and sustainability, ReNew Power has embarked on a multitude of initiatives aimed at empowering marginalized communities, youth, and women.
In their quest to leave no one behind, ReNew Power has spearheaded various transformative projects, including:
Empowering Education: ReNew Power is lighting up the future by providing clean energy access in schools and nurturing climate literacy. Through these initiatives, they aim to equip the next generation, who will be most affected by climate change, with the knowledge and tools to become change agents.
Championing Women Empowerment: Recognizing the crucial role of women in building a sustainable future, ReNew Power has launched a reskilling program for women saltpan farmers, empowering them to thrive in challenging circumstances.
Infrastructure Development: ReNew Power understands that sustainable infrastructure is the foundation of progress. By investing in infrastructure development, they are not only driving economic growth but also creating a platform for long-term sustainability.
Through their unwavering commitment to corporate social responsibility (CSR), ReNew Power has positively impacted the lives of 650,000 individuals across 10 states and 250 villages. These initiatives are a testament to ReNew Power's dedication to making a meaningful difference in the lives of the communities they serve.
ReNew Power is also shaping the leaders of tomorrow. With the launch of the visionary "ReNew Young Leaders Climate Curriculum," they are educating 20,000 students from 100 schools, instilling in them a deep understanding of climate change and inspiring them to become champions of sustainability.
As ReNew Power expands its horizons, their workforce has grown by an impressive 38%, now comprising over 1,600 dedicated professionals. Recognizing the pivotal role their employees play in driving change, ReNew Power is conducting mandatory ESG training for all staff members. Equipped with knowledge and passion, these employees will become sustainability ambassadors, catalyzing positive impact in society.
To amplify their impact on social and environmental fronts, ReNew Power has forged strategic partnerships with like-minded institutions. Collaborating with esteemed organizations such as Fluence, L&T, Indian Oil Corporation, World Economic Forum, UNEP India, UNDP India, UN Global Compact Network India, Associated Chambers of Commerce and Industry, South Asian Women in Energy, and IIT-Delhi, ReNew Power harnesses the power of collective action to accelerate progress.
ReNew Power's commitment to transparency is exemplified in their meticulously prepared sustainability report. Aligned with the Global Reporting Initiative (GRI) Standards, Sustainability Accounting Standards Board (SASB), Task Force on Climate-related Disclosures (TCFD), United Nations Global Compact's 10 Principles, and UN Women Empowerment Principles, this report showcases ReNew Power's performance across the three pillars of Environment, Society, and Governance (ESG). Moreover, it has received external assurance by DNV Business Assurance India Private Limited (DNV), further reinforcing its credibility.
The recently released sustainability report from ReNew Power showcases an array of extraordinary accomplishments, solidifying their position as a leader in sustainable practices. Here are the key highlights that will leave you inspired:
Carbon Neutrality Champions: ReNew Power has achieved carbon neutral status for the second consecutive year, proudly demonstrating their unwavering commitment to mitigating climate change. By effectively addressing their scope 1 and 2 greenhouse gas (GHG) emissions, ReNew Power sets a remarkable example for others to follow.
Net Zero Targets Aligned with Science: ReNew Power is paving the way towards a net zero future by aligning their targets with the Science-Based Targets initiative (SBTi). With a near-term goal of reducing GHG emissions by an impressive 29.4% across all scopes by 2027, ReNew Power is setting the stage for significant and tangible progress. Looking further ahead, they aim to achieve a net zero target of reducing GHG emissions by an astounding 90% across all scopes by 2040.
Water Positivity and Zero Waste: Emphasizing their commitment to sustainable resource management, ReNew Power sets their sights on becoming a water positive and zero waste to landfill company by 2030. This ambitious goal reflects their dedication to conserving water and minimizing waste, ensuring a greener and more sustainable future.
Collaborative Leadership: ReNew Power understands that true transformation requires collective action. To lead the global energy transition, they have forged strategic collaborations with diverse stakeholders, including academia and international organizations at the forefront of clean energy research and innovation. Through these partnerships, ReNew Power continues to drive groundbreaking advancements in the field of renewable energy.
Exemplary Corporate Governance: ReNew Power is raising the bar for corporate governance, surpassing the requirements for global foreign listed entities. With a board comprised primarily of independent directors, ReNew Power sets a high standard for transparency, accountability, and ethical practices.
ReNew Power's sustainability achievements transcend expectations, reshaping the landscape of clean energy. As they continue to redefine what is possible, ReNew Power remains an unwavering force in building a more sustainable and prosperous future for all.
Here are the report highlights that underscore ReNew's unwavering dedication:
By successfully avoiding over 11 million tons of carbon emissions in FY22, ReNew Power has made a significant impact, equivalent to 0.5% of India's total emissions.
In the same period, ReNew Power harnessed an awe-inspiring 14,263 GWh of clean energy, an output capable of energizing four million Indian households annually.
ReNew's water-saving efforts have been remarkable, preserving an impressive 216,000 kiloliters of water in FY22. This amount is ample to cater to the daily water needs of 1.6 million people in India.
Demonstrating a commitment to transparency, ReNew has divulged its Scope 3 greenhouse gas (GHG) emissions for the first time.
Leading the charge, ReNew Power is spearheading India's race toward sustainability. Their net zero commitment by 2040 surpasses the goals set by both India itself, which aims for 2070, and numerous global energy giants.
To bring this vision to fruition, ReNew Power has laid out an extensive strategy, encompassing various measures:
Initiatives to enhance energy efficiency will be implemented throughout their offices and sites.
Clean energy procurement will be prioritized, driving a transition away from fossil fuels.
Fossil-fuel-based equipment will be replaced with efficient electrified alternatives.
Suppliers will be encouraged to adopt targets aligned with the Science-Based Targets initiative (SBTi).
A thorough evaluation of low carbon footprint raw materials will be conducted.
Innovative green logistics solutions will be explored for transportation purposes.
Beyond their net zero commitment, ReNew Power is also committed to meeting a wider range of ESG goals. These include achieving water positivity, procuring renewable energy for their operations, eliminating waste sent to landfills, positively impacting the lives of 2.5 million individuals through CSR initiatives, promoting a workforce with 30% women representation, and implementing robust ESG risk management practices.
ReNew Power's progress towards these ambitious targets will be meticulously monitored through internal governance mechanisms and external audits. The results of these assessments will be shared transparently in their annual sustainability report.
ReNew Power is rewriting the future of clean energy in India, ushering in a greener, more sustainable era. Join us on this remarkable journey towards a brighter, cleaner tomorrow.
ReNew Power, a true catalyst for change, has just unveiled its groundbreaking sustainability report titled "Partnering for Transition, Progressing Sustainably, Prospering Together." This eagerly anticipated release was celebrated with great enthusiasm as the Company's Board, together with esteemed community representatives, gathered in Jaisalmer, Rajasthan.
The report's pages radiate with incredible achievements, demonstrating ReNew Power's unwavering commitment to combatting climate change. Over the past year alone, ReNew Power spearheaded the avoidance of a staggering 11 million tons of carbon emissions through its innovative clean energy operations.
But that's not all. ReNew Power's tireless efforts have generated a monumental 14,263 GWh of clean electricity, an astonishing amount capable of illuminating the lives of four million Indian households. By accomplishing this feat, ReNew Power has contributed to a reduction of 0.5% in India's annual carbon emissions. The cherry on top? ReNew Power's carbon intensity of electricity generation stands at a remarkable 32.83 gCO2/KWh, a striking 95% lower than the Indian power sector's average and an astounding 94% lower than the global average.
Embracing a spirit of transparency and accountability, ReNew Power has boldly disclosed its Scope 3 greenhouse gas (GHG) emissions as part of this groundbreaking report. In doing so, ReNew Power joins an elite group of companies committed to openly sharing their GHG emissions, including those stemming from their supply chain. This unprecedented transparency sets a new benchmark for the industry.
In alignment with its steadfast ESG target of water positivity, ReNew Power proudly announces its achievement of saving over 216,000 kiloliters of precious water resources. This remarkable accomplishment was made possible through the deployment of state-of-the-art robotic cleaning equipment, marking an incredible increase of over 225% compared to the previous year.
ReNew Power's sustainability report is a testament to their unwavering dedication to a greener future. Their remarkable accomplishments serve as an inspiration for companies worldwide, as they continue to innovate and spearhead transformative change. Together, let us forge a sustainable path towards prosperity for all.
“In the recent context of global economic and political uncertainty and the increasing impact of climate change, ReNew has been working tirelessly towards addressing India’s energy and climate security. We have amplified our efforts with global partnerships including business partners for global decarbonization in the areas such as energy storage, green hydrogen, and carbon markets. We have also built strong relationships with academia, think tanks and industry associations for innovative research and development,” said Sumant Sinha, ReNew Energy Global PLC’s Chairman and CEO.
“ReNew’s core purpose is to address climate change, and we strongly believe that this cannot be achieved without an inclusive and equitable society. This report puts in perspective not only the positive impact that ReNew has been able to create from an environmental standpoint, but also from a social angle and the value it has co-created with its stakeholders. With a model, all women site at the ground level, a majority independent board, and 30% gender diversity at the board level, ReNew is clearly walking the talk,” said Vaishali Nigam Sinha, ReNew Foundation’s Chief Sustainability Officer.
ReNew Power's vision extends far beyond clean energy. Driven by a profound commitment to foster a just transition, one that encompasses inclusivity, holistic development, and sustainability, ReNew Power has embarked on a multitude of initiatives aimed at empowering marginalized communities, youth, and women.
In their quest to leave no one behind, ReNew Power has spearheaded various transformative projects, including:
Empowering Education: ReNew Power is lighting up the future by providing clean energy access in schools and nurturing climate literacy. Through these initiatives, they aim to equip the next generation, who will be most affected by climate change, with the knowledge and tools to become change agents.
Championing Women Empowerment: Recognizing the crucial role of women in building a sustainable future, ReNew Power has launched a reskilling program for women saltpan farmers, empowering them to thrive in challenging circumstances.
Infrastructure Development: ReNew Power understands that sustainable infrastructure is the foundation of progress. By investing in infrastructure development, they are not only driving economic growth but also creating a platform for long-term sustainability.
Through their unwavering commitment to corporate social responsibility (CSR), ReNew Power has positively impacted the lives of 650,000 individuals across 10 states and 250 villages. These initiatives are a testament to ReNew Power's dedication to making a meaningful difference in the lives of the communities they serve.
ReNew Power is also shaping the leaders of tomorrow. With the launch of the visionary "ReNew Young Leaders Climate Curriculum," they are educating 20,000 students from 100 schools, instilling in them a deep understanding of climate change and inspiring them to become champions of sustainability.
As ReNew Power expands its horizons, their workforce has grown by an impressive 38%, now comprising over 1,600 dedicated professionals. Recognizing the pivotal role their employees play in driving change, ReNew Power is conducting mandatory ESG training for all staff members. Equipped with knowledge and passion, these employees will become sustainability ambassadors, catalyzing positive impact in society.
To amplify their impact on social and environmental fronts, ReNew Power has forged strategic partnerships with like-minded institutions. Collaborating with esteemed organizations such as Fluence, L&T, Indian Oil Corporation, World Economic Forum, UNEP India, UNDP India, UN Global Compact Network India, Associated Chambers of Commerce and Industry, South Asian Women in Energy, and IIT-Delhi, ReNew Power harnesses the power of collective action to accelerate progress.
ReNew Power's commitment to transparency is exemplified in their meticulously prepared sustainability report. Aligned with the Global Reporting Initiative (GRI) Standards, Sustainability Accounting Standards Board (SASB), Task Force on Climate-related Disclosures (TCFD), United Nations Global Compact's 10 Principles, and UN Women Empowerment Principles, this report showcases ReNew Power's performance across the three pillars of Environment, Society, and Governance (ESG). Moreover, it has received external assurance by DNV Business Assurance India Private Limited (DNV), further reinforcing its credibility.
The recently released sustainability report from ReNew Power showcases an array of extraordinary accomplishments, solidifying their position as a leader in sustainable practices. Here are the key highlights that will leave you inspired:
Carbon Neutrality Champions: ReNew Power has achieved carbon neutral status for the second consecutive year, proudly demonstrating their unwavering commitment to mitigating climate change. By effectively addressing their scope 1 and 2 greenhouse gas (GHG) emissions, ReNew Power sets a remarkable example for others to follow.
Net Zero Targets Aligned with Science: ReNew Power is paving the way towards a net zero future by aligning their targets with the Science-Based Targets initiative (SBTi). With a near-term goal of reducing GHG emissions by an impressive 29.4% across all scopes by 2027, ReNew Power is setting the stage for significant and tangible progress. Looking further ahead, they aim to achieve a net zero target of reducing GHG emissions by an astounding 90% across all scopes by 2040.
Water Positivity and Zero Waste: Emphasizing their commitment to sustainable resource management, ReNew Power sets their sights on becoming a water positive and zero waste to landfill company by 2030. This ambitious goal reflects their dedication to conserving water and minimizing waste, ensuring a greener and more sustainable future.
Collaborative Leadership: ReNew Power understands that true transformation requires collective action. To lead the global energy transition, they have forged strategic collaborations with diverse stakeholders, including academia and international organizations at the forefront of clean energy research and innovation. Through these partnerships, ReNew Power continues to drive groundbreaking advancements in the field of renewable energy.
Exemplary Corporate Governance: ReNew Power is raising the bar for corporate governance, surpassing the requirements for global foreign listed entities. With a board comprised primarily of independent directors, ReNew Power sets a high standard for transparency, accountability, and ethical practices.
ReNew Power's sustainability achievements transcend expectations, reshaping the landscape of clean energy. As they continue to redefine what is possible, ReNew Power remains an unwavering force in building a more sustainable and prosperous future for all.
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