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Adani Energy Solutions Leads in Sustainability Ratings

Newzdaddy Business Updates

Ahmedabad, November 17, 2023:

Adani Energy Solutions Limited (AESL), part of the Adani Group, has achieved impressive ratings in Environmental, Social, and Governance (ESG) performance, solidifying its position as a top-rated company.

In the latest ESG ratings for July-September 2023 (Q2FY24), AESL has excelled in various categories:

CSRHub Rating: AESL received a high score of 86%, well above the industry average for Electric and gas Utilities globally.
Sustainalytics ESG Risk Rating: With a score of 31.5, AESL outperformed the global Electric Utility Industry average of 32.1, placing it in the prestigious Global Top 40.
MSCI ESG Rating: AESL secured a stable ‘BBB’ rating from MSCI, highlighting its commitment to robust ESG performance.
FTSE ESG Score: Reaffirmed as a constituent of the FTSE4Good index series, AESL improved its ESG score from 3.3 to 4, surpassing the global electric utilities sector average of 2.7.

AESL is actively working towards meeting Business Responsibility and Sustainability Reporting (BRSR) requirements by SEBI. The company aims to achieve UN Energy Compact goals, including a 60% share of renewable energy in bulk procurement by FY27, with the current share already at 38%. Additionally, AESL is committed to a 40% reduction in greenhouse gas emissions from the FY19 baseline by FY25.

The company has played a crucial role in building transmission corridors for renewable energy and has a portfolio of operational and under-construction projects across the country.

In addition to these achievements, AESL is proud to share its commitment to environmental conservation. Under its 1t.org initiative, the company has planted 24.3 million mangroves and 3.28 million trees, contributing to the Adani Group’s goal of planting 100 million trees by 2023.

Mr. Anil Sardana, Managing Director of AESL, expressed pride in these accomplishments, stating, “We are dedicated to driving sustainable change in our industry and beyond, aiming to be among the top 10 global companies in this important cause.”