Tata Power on Thursday said it has secured the highest score among its peers in the Indian power sector in rating agency Crisil’s recently launched environmental, social and governance (ESG) scores.
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 scoring an impressive 67 out of 100, Tata Power said in a statement.
It has scored 61 in environment, and 60 and 77 on social and governance parameters, respectively, it added.
This assessment was made voluntarily by Crisil and is based on publicly available information.
The ESG adherence is 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, the company said.
As part of its 2.0 business plan, Tata Power is focusing especially on the environmental pillar. It has taken decisions towards no coal-based expansion on the generation side, expansion of renewable footprints, and development of EV charging infrastructure in the country, among others, it added.
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.
It 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.
Tata Power CEO and Managing Director Praveer Sinha said, “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.”
Sinha added that these scores are a testament of the company’s realigned business model with new ESG trends, which are niche as well as scalable, to harness sustainable growth.
Crisil, an S&P Global company, provides ratings, data, research, analytics, and solutions.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
Dear Reader,
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.
Digital Editor
Leave a Comment