Adani Green Ranked 1st In Asia, Among Top 10 In World For Renewable Energy
Adani Green Energy Limited (AGEL), India's largest renewable energy producer, has been ranked first in Asia and among the top 10 companies globally in the renewable energy sector by ISS ESG. AGEL is a subsidiary of the diversified Adani Group.
ISS ESG is a leading global provider of environmental, social, and governance (ESG) research and ratings. ISS ESG's rankings are based on a comprehensive assessment of a company's ESG performance, including its environmental impact, social responsibility, and corporate governance.
AGEL has been placed in the 'Prime' (B+) band, recognising its robust ESG disclosure practices and high level of transparency.
This achievement brings AGEL one step closer to its goal of being ranked among the top 10 ESG companies in the world in the electric utility sector by FY25. In FY23, AGEL was already ranked among the top 10 companies in the world in the Renewable Energy sector by Sustainalytics.
AGEL is India's largest renewable energy company, with an operating portfolio of 8,216 MW. Its operations provide clear environmental benefits by reducing greenhouse gas emissions and fighting climate change. AGEL also helps to transition to a more sustainable energy system by providing clean and renewable energy to its customers. The company addresses relevant social and environmental risks through dedicated management systems.
"At AGEL, there are four pillars to the ESG framework - guiding principles, policies, commitment and assurance - helping the company align with UN Global Compact, UN Sustainable Goals, India Business and Biodiversity Initiatives, Green Bond Principles, and IFC's E&S Performance," said Mr Vneet S Jaain, MD, Adani Green Energy Ltd.
"Our policies are aligned with these guidelines and ESG targets have been set keeping these policies in mind. Our aim is to be among the top 10 companies of the world in the ESG benchmarking of the electric utility sector by FY25," Mr Jaain added.
The ESG Corporate Rating is a forward-looking assessment of a company's ESG performance. It is based on a pool of about 700 standard and industry-specific indicators, from which ISS ESG selects approximately 100 indicators for each rating. The rating is designed to help investors identify companies that are well-positioned to manage ESG risks and opportunities.
Adani Green is a renewable energy company that develops, builds, owns, operates, and maintains utility-scale grid-connected solar and wind projects. The electricity produced is supplied to central and state government entities, as well as government-backed corporations. Adani Green is on track to achieve its target of 45 GW of renewable energy capacity by 2030, which will contribute significantly to India's renewable energy goals.
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