Tata Power Tops CRISIL’s ESG Scores for Power Companies in India

by Team Conscious Carma
  • Builds a robust roadmap to emerge as a global leader on ESG practices
  • CRISIL recently announced ESG scores of 225 companies across 18 sectors in India

Tata Power, India’s largest integrated power company, secured the highest score among its peers in the Indian Power sector in CRISIL’s, recently launched environmental, social and governance (ESG) scores. CRISIL, an S&P Global Company, is India’s foremost provider of ratings, data, research, analytics, and solutions. 

The company is committed to its vision to empower a billion lives through sustainable, affordable and innovative energy and has fared well on all ESG parameters viz. Environmental, Social and Governance and scored an impressive 67 out of 100. The company has scored 61 on environmental parameters and 60 and 77 on social and governance parameters, respectively. This assessment was made voluntarily by CRISIL and is based on publicly available information. 

ESG adherence being Tata Power’s core philosophy and drives its business strategy. It leads its way in the development of the company’s clean energy portfolio, decides its social innovations, and governance protocols. ESG is the company’s bridge to action and provides it with a lens through which it can translate organisational needs and ambitions into responsible business solutions while moving towards a sustainable and inclusive development path. 

Tata Power

As a part of its 2.0 business plan, Tata Power is focusing especially on the environmental pillar and has taken bold decisions towards no coal-based expansion on the generation side,  expansion of renewable footprints (80% by 2030 from 30 % currently) through utility business; development of robust EV charging infrastructure in the country et al. The company is confident of achieving carbon neutrality much before 2050 and aspires to become a global leader in Utility Sustainability practices. It has also developed a clear roadmap to achieve 100 % water neutrality and Zero waste to landfills by 2026. 

CRISIL, in its recent report, announced the ESG scores of 225 companies across 18 sectors in India factoring in their track record and disclosure standards. This includes a relative pan-sectoral assessment of all material ESG parameters relevant in the Indian context and is based on information available in the public domain and third-party providers.

The scores are based on CRISIL’s proprietary framework and are assigned on a scale of 1-100, with 100 denoting best-in-class ESG performance. The current evaluation analyses three annual reporting cycles through fiscal 2020. 

“It is a proud moment for us to achieve such high scores and to emerge as the leading ESG focused company in the Indian power sector. We would like to thank CRISIL for honouring our efforts. These scores are a testament of our realigned business model with new ESG trends, which are niche as well as scalable, to harness sustainable growth.” said Dr Praveer Sinha, CEO & Managing Director, Tata Power.

Tata Power has also identified key focus areas viz renewable footprints, carbon emission, resource availability, waste management, biodiversity, et al. The Company has also set its emission reduction targets in alignment with the Science-Based Targets initiative (SBTi).

Report link and disclaimer: https://www.crisil.com/en/home/what-we-do/financial-products/crisil-esg-compendium.html

About Tata Power: 

Tata Power is India’s largest integrated power company and, together with its subsidiaries and jointly controlled entities, has an installed/ managed capacity of 12,808 MW. A pioneer in the field, it has a presence across the entire power value chain – generation of renewable as well as conventional power including hydro and thermal energy, transmission & distribution, coal & freight, logistics and trading. The company had developed the country’s first 4000 MW Ultra Mega Power Project at Mundra (Gujarat) based on super-critical technology. With nearly 3.9 GW of clean energy generation from solar, wind, hydro and waste heat recovery accounting for 31% of the overall portfolio the company is a leader in clean energy generation. Tata Power is steering the transformation of all its Discoms into integrated solutions providers by looking at new business growth in distributed generation through rooftop solar and microgrids, storage solutions, EV charging infrastructure, ESCO, home automation & smart meters et al. 
With its 107 years track record of technology leadership, project execution excellence, world-class safety processes, customer care and green initiatives, Tata Power is well poised for multi-fold growth and committed to lighting up lives for generations to come. For more information visit www.tatapower.com

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