Renew Ranks Among Top Renewable Power & Utility Companies Globally for ESG, Says Sustainalytics
ReNew Energy Global Plc (“ReNew”; Nasdaq: RNW, RNWWW) has been ranked among the top seven renewable power companies in the world and among the top 10 global utility firms by Morningstar Sustainalytics. Sustainalytics’ ESG Risk Ratings measure a company’s exposure to industry-specific material Environmental, Social, and Governance risks.
After a thorough and rigorous assessment across various ESG-centric parameters, ReNew has been listed as a ‘low risk’ company with a rating of 11.6, signifying its low ESG risk exposure and sustainability. The company has been ranked seventh among 93 renewable power companies and tenth among 698 utilities globally.
“Our low ESG Risk Rating by Morningstar Sustainalytics is a testament to our unwavering commitment to sustainable practices, ethical business operations and superior governance,” said Sumant Sinha, Chairman and CEO of ReNew.
“ReNew will continue to roll out a host of ESG initiatives to decarbonize its operations, reduce water consumption, further diversity and inclusion in the workplace and at the same time remain dedicated to helping communities become climate resilient,” he added.
ReNew is working towards energy efficiency improvements across offices and sites. It is focused on clean energy procurement for operations, electrification of fossil-fuel-based equipment, encouraging suppliers for setting emission reduction targets, evaluating low carbon raw materials and exploring green logistics for transportation.
Further, the company has pledged to meet a broader range of ESG goals including water positivity, zero waste to landfill and has benefited more than 650,000 people through our Corporate Social Responsibility initiatives like Lighting Lives, Young Climate Leadership Programme, among others.
“ReNew’s ESG Ratings echoes our commitment to creating long-term value for our stakeholders,” said Vaishali Nigam Sinha, ReNew’s Chairperson Sustainability. “At ReNew, sustainability is an integral part of our business strategy and we continuously strive to improve our practices in line with global best practices. As a company, we are committed to becoming Net Zero by 2040 using Science Based Targets initiatives, and joining hands with partners in climate action,” she said.