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 company’s sustainability effort has been recognized by 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.
“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 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.
As one of India’s fastest-growing clean energy company, Tata Power’s sustainability efforts are now an integral part of its business strategies. Apart from providing vital grid-based energy utility services in key markets in North, East, and Western regions in India, the company is also deeply invested in distributed clean energy business including rooftop solar, solar-based microgrid networks in rural India, building a nationwide network of electric vehicle charging stations, smart homes, etc.
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 also expects to emerge as India’s ‘Utility of the Future by investing in new and frontier technologies including IoT, Smart Grids, Battery Energy Storage Solutions, Green H2, robotic panel cleaning, etc.
With quality education being one of the thrust areas for Tata Power’s CSR outreach, the company works towards holistic development with a focus on digital literacy, remedial education, skilling, entrepreneurship, and financial inclusion. By educating, handholding, and empowering specific target groups like women, the elderly, the differently-abled, and other disadvantaged sections of society, Tata Power promotes inclusive and equitable quality education for all. Tata Power’s flagship CSR projects like Anokha Dhaaga, Roshini-Vocational Training Centers, and Tata Power Skill Development Institute empowers community members with progressive new-age training and entrepreneurship skills, making them future-ready community change agents.
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. Tata Power also got featured in Business World’s recently released list of top 20 ‘Most Sustainable Companies in India’. The company was also assessed by ESG Risk Assessments and Insights Limited (ESG Risk. ai) and has been identified as a leading company on ESG disclosures in the Indian power sector. It has also been ranked among the top 10 on Sustainability & CSR Responsible Business ranking in the ET-Futurescape 8th Sustainability Index Report. Tata Power secured the highest score in CRISIL’s ESG Scores among its peers in the Indian Power sector.
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.