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JSW Energy achieves Leadership band (A-) in CDP Climate Change 2021



Posted On : 2021-12-08 11:36:16( TIMEZONE : IST )

JSW Energy achieves Leadership band (A-) in CDP Climate Change 2021

JSW Energy has achieved a Leadership band with 'A-' score in the 2021 CDP Climate Change assessment, the only Indian power generation company to achieve this level, which is the highest amongst the activity group of thermal power generation globally.

JSW Energy has been recognized by CDP for its leadership on corporate transparency and action on climate change from among over 13,000 companies worldwide who were scored on their 2021 disclosures.

  • Of the 48 companies globally under the Thermal power generation activity group/category, JSW Energy was the only company in India, one of the 2 companies in Asia and one of the 12 companies in the world with a score in the Leadership band in Climate Change (highest score being A-).
  • This is higher than the Asia regional average of B-, and higher than the Thermal power generation sector average of B.
  • Of the more than 300 Indian Companies, JSW Energy was one of the 19 companies and the only energy company with a score in the Leadership (A/A-) band in Climate change The Company's score improved to A- (Leadership), from B (Management) in 2020, and from C (Awareness) in 2019, representing continuous improvement and adoption of global best practices formulated by organizations working with CDP to advance environmental stewardship.

Prashant Jain, Joint Managing Director and CEO of JSW Energy, said: "Achieving leadership score of A- highlights our environmental stewardship in recognising and taking actions to mitigate or capitalise on risks and opportunities related to Climate change. We have aligned our business strategy to transition towards net zero and capitalise on opportunities in the renewable energy. We are growing our presence across renewable energy generation, energy storage and green hydrogen."

Carbon Disclosure Project (CDP) is a not-for-profit organisation that works with companies and cities to catalyse action towards a more sustainable world. CDP runs the global environmental disclosure system. Each year it supports thousands of companies, cities, states and regions to measure and manage their risks and opportunities on climate change, water security and deforestation, through disclosing this information. Scoring done by CDP helps drive corporate transparency and helps to guide, incentivize and assess environmental action.

At present, JSW Energy has 4,559 MW of installed capacity across thermal (3,158 MW), and hydro & solar (1,401 MW). The Company has laid out a growth plan to reach 20 GW capacity by 2030, with the share of renewable energy in the portfolio increasing to 85%, up from 30% currently.

Currently, JSW Energy has around 2,458 MW of renewable projects under-construction: 2,218 MW of wind and solar projects, for which PPA have already been signed, are expected be commissioned in the next 18-24 months, while the 240 MW Kutehr hydro project is expected to be commissioned in the next 36-40 months. With the commissioning of these projects, the Company's total generation capacity will increase to ~7 GW, with the share of renewable energy increasing from 30% now to about 55%.

Recently, the Company had announced its plan to reorganise its Thermal and Renewable Business, and house all existing and upcoming renewable energy projects under a new entity JSW Neo Energy Limited, which will be the vehicle to drive the Company's growth plans in renewable energy - across Generation, Energy Storage and Green Hydrogen.

JSW Energy Limited has joined the global movement of leading companies that are aligning their business to limit global temperature rise to 1.5°C above preindustrial levels, and reach net-zero value chain emissions by no later than 2050. JSW Energy has set an ambitious target for 50% reduction in carbon footprint by 2030 and achieving Carbon Neutrality by 2050 by transitioning towards renewable energy. The Company has committed to set a science-based target through the Science Based Targets initiative (SBTi) and committed to UN Energy Compact supporting SDG7.

Shares of JSW Energy Limited was last trading in BSE at Rs. 307.60 as compared to the previous close of Rs. 310.20. The total number of shares traded during the day was 14199 in over 466 trades.

The stock hit an intraday high of Rs. 319.40 and intraday low of 304.00. The net turnover during the day was Rs. 4415093.00.

Source : Equity Bulls

Keywords

JSWEnergyLimited INE121E01018 JSWENERGY 2021CDPClimateChangeAssessment Score