Tata Power among Top 10 sustainable companies in 2021: Capri Global Capital Hurun India Impact 50

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Tata Power, one of India’s leading integrated power businesses, has been named one of the Top 10 sustainable companies in India for 2021, based on its strong alignment with the United Nations’ Sustainable Development Goals (SDGs). The company’s efforts in several vital sectors, including clean water and sanitation, affordable and clean energy, and quality education, have been acknowledged by the 2021 Capri Global Capital Hurun India Impact 50 list (No.3).

Tata Electricity is India’s first power utility to pledge to achieve “Carbon Neutrality” by 2045, paving the path for a smarter and greener future. It is also the first Indian utility that, along with ten other global power firms and the World Business Council for Sustainable Development, co-created the first SDG roadmap for power utilities.

“Our alignment with the United Nations’ Sustainable Development Goals provides us a clear roadmap to our commitment to becoming a carbon-neutral company by 2045, a target particularly challenging for energy utilities. Even though the transition to clean energy is our primary business goal, we fully understand the need to address other sustainability goals to provide us with strength and momentum in our journey towards our Net Zero pledge. We thank the teams at Capri Global Capital, Hurun India, and the five-member expert advisory panel for recognizing our work that will further strengthen our sustainability commitments, said,”

Ms. Jyoti Kumar Bansal, Chief-Branding, Corporate Communications, CSR and Sustainability, Tata Power.

Tata Power’s sustainability efforts are now an intrinsic component of its business strategies as one of India’s fastest-growing renewable energy companies. Apart from providing critical grid-based energy utility services in key markets across India’s North, East, and West, the company is also heavily invested in distributed clean energy businesses such as rooftop solar, solar-based microgrid networks in rural India, and the construction of a nationwide network of electric vehicle charging stations, smart homes, and so on.

Tata Power aims to achieve an 80 percent clean and green portfolio by 2030 and a 100 percent clean and green portfolio by 2045 by adding 2-4 GW of solar and hybrid capacity each year. In the process, the company hopes to become 100 percent water neutral and landfill-free by 2030. Tata Power has already stated that it will not make any new investments in coal assets and will cease construction of new coal-fired power plants or the acquisition of existing coal-fired power plants. This also means that when the company’s contractual commitments expire, all of its coal-fired units will be shut down.
Tata Power also hopes to become India’s “Utility of the Future” by investing in cutting-edge technologies such as the Internet of Things, Smart Grids, Battery Energy Storage Solutions, Green H2, robotic panel cleaning, and so on.

Tata Power works towards holistic development with a focus on digital literacy, remedial education, skilling, entrepreneurship, and financial inclusion, with quality education being one of the company’s thrust areas for CSR outreach. Tata Power fosters inclusive and equitable quality education for all by educating, assisting, and empowering certain target groups such as women, the elderly, the differently abled, and other underprivileged members of society. Community people are empowered with progressive new-age training and entrepreneurship skills through Tata Power’s major CSR projects like Anokha Dhaaga, Roshini-Vocational Training Centres, and Tata Power Skill Development Institute, making them future-ready community change agents.

In S&P Global’s Corporate Sustainability Assessment (CSA) 2021 results, Tata Power received the highest score among its peers in the Indian Power sector. Tata Power was also named to Business World’s list of the top 20 “Most Sustainable Companies in India” published recently. ESG Risk Assessments and Insights Limited (ESG Risk. ai) also examined the company and identified it as a leading company in the Indian power sector for ESG disclosures. In the ET-Futurescape 8th Sustainability Index Report, it was also listed among the top ten for Sustainability & CSR Responsible Business. Among its counterparts in the Indian Power industry, Tata Power received the highest ESG Score from CRISIL.

The 2021 Capri Global Capital Hurun India Impact 50, a ranking of the top 50 firms located in India based on their alignment with the 17 UN Sustainable Development Goals, was released by Capri Global Capital and Hurun India.

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