The Intent Was Announced last year
Tata Power, one of India’s largest integrated power companies has been ranked among India’s Top 10 sustainable companies based on the strength of its alignment with the United Nations’ Sustainable Development Goals (SDGs) in 2021. The recognition in the 2021 Capri Global Capital Hurun India Impact 50 ranking (No.3) for its work in several critical areas including Clean Water & Sanitation, Affordable & Clean Energy, and Quality Education.
At no. 1 ranking in the report is Grasim Industries, followed by tech Mahindra at no. 2. Wipro at no. 4. Ambuja Cements at no. 5, Hindustan Unilever at no. 6, Hindalco (7), Tata Steel (8) Infosys, ITC and Marico complete the top 10 in the list.
Tata Power is the first power utility in India to commit to ‘Carbon Neutrality’ before 2045 to pave the way for a smarter and greener tomorrow. It is also the only Indian utility to co-create the first SDG roadmap for power utilities along with 10 other global power companies and the World Business Council for Sustainable Development.
Tata Power is working towards achieving a clean and green portfolio of 80% by 2030 and 100% before 2045 by adding 2-4 GW of solar and hybrid capacities annually. In the process, the company also expects to become 100% water neutral and 100% Zero waste in the landfill before 2030. Tata Power has already announced that it will not make any new investment in coal assets and withdraw from building new/acquiring existing coal-fired power plants. This also means that all its coal-fired plants will be retired at end of contractual obligations.
Tata Power has also secured the highest score among its peers in the Indian Power sector in S&P Global’s Corporate Sustainability Assessment (CSA) 2021 results.
Capri Global Capital and Hurun India debuted 2021 Capri Global Capital Hurun India Impact 50, a list of the top 50 companies headquartered in India, ranked based on their alignment with the 17 UN SDGs.
94% of companies featured in 2021 Capri Global Capital Hurun India Impact 50 have a measurable time-bound target for at least one Sustainable Development Goal. 62% of companies featured in the 2021 Capri Global Capital Hurun India Impact 50 have time-bound targets to achieve carbon neutrality.
Among the top 50 Indian firms, Climate action features as the Pillar with the highest number of measurable and time-bound targets, with 41 firms committed to it.
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