ReNew Chairman and CEO Sumant Sinha to Lead Global Climate Action as Alliance Co-Chair

Rhea-AI Summary

Sumant Sinha, Chairman and CEO of ReNew, has been appointed Co-Chair of the Alliance of CEO Climate Leaders, the world's largest CEO-led climate alliance and a World Economic Forum initiative. Sinha joins a group of influential leaders from top global companies, representing $4 Trillion in revenues and 5.2 GT of carbon emissions.

ReNew, a member of the Alliance since 2019, is committed to net-zero targets and innovative decarbonization solutions. The company aims to be net zero by 2040 and has mitigated over 21 million tons of carbon emissions in the past two years. With a portfolio of 21.4 GW, ReNew is pioneering solutions such as innovative PPAs, solar module manufacturing, carbon markets, power trading, and energy storage.

Sinha's appointment is expected to bring valuable insights into energy transition in emerging and developing economies, furthering the Alliance's global impact.

Sinha’s leadership of the largest CEO-led climate alliance worldwide will bring significant experience to the community committed to raising bold climate ambition by doubling down on Scope 3 emissions decarbonization and policy engagement for a low-carbon regulatory environment

GURUGRAM, India--(BUSINESS WIRE)-- Mr. Sumant Sinha, Chairman and CEO of ReNew, has been named Co-Chair of the Alliance of CEO Climate Leaders, the largest CEO-led climate alliance in the world, and a flagship initiative of the World Economic Forum. Sinha joins a group of influential leaders from top global companies - Ester Baiget, CEO of Novonesis; Jesper Brodin, CEO of Ingka Group Ikea; Feike Sybesma, Chairman of the Supervisory Board of Royal Philips; and Rich Lesser, Global Chair of BCG and Alliance Chief Advisor. Together, they will work closely with a cohort of 130-member CEOs across 12 Industries on driving strategic priorities of the Alliance. Collectively, this group represents $4 Trillion in revenues and 5.2 GT of carbon emissions, equivalent to 10 percent of global emissions across all scopes.

As a member of the Alliance since 2019, ReNew is recognized for its commitment to net-zero targets and innovative decarbonization solutions. It is one of the few organisations in its sector to have declared a 1.5°C-aligned science-based target validated by the Science Based Targets initiative (SBTi), with a target to be net zero by 2040.

Mr. Sinha said, “The Alliance of CEO Climate Leaders has been instrumental in driving systemic action and fostering public-private collaboration in the global energy transition. I look forward to engaging with a group of talented co-chairs and global CEOs committed to delivering tangible climate solutions and innovations across geographies and businesses.”

ReNew is dedicated to accelerating the net-zero transition and has mitigated over 21 million tons of carbon emissions over the past two years. With an overall portfolio of 21.4 GW (contracted and in pipeline), ReNew’s leadership across the value chain positions the company uniquely as a global energy transition leader. The company has been pioneering a spectrum of decarbonization solutions, including innovative Power Purchase Agreements (PPAs), solar module manufacturing, carbon markets, power trading, and energy storage. These initiatives support enterprises in transitioning towards net-zero emission goals.

Since the World Economic Forum’s Annual Meeting in 2022, Sumant Sinha has also served as Co-Chair of the India chapter of the Alliance of CEO Climate Leaders.

Gim Huay Neo, Managing Director of the World Economic Forum, commented, “The Alliance of CEO Climate Leaders is vital in scaling and accelerating climate action. We are thrilled that Sumant has agreed to lead the Alliance as Co-Chair. His extensive experience as Founder, Chairman, and CEO of ReNew, along with his insights into energy transition in emerging and developing economies, will be invaluable. My team and I look forward to collaborating with him to amplify the Alliance’s positive impact globally.”

Sinha is a global entrepreneur and a recognized thought leader. He is a founding member of the Forum’s First Movers Coalition and currently serves as Board Chair of the Rocky Mountain Institute (RMI).

About ReNew

ReNew is a leading decarbonization solutions company listed on Nasdaq (Nasdaq: RNW, RNWWW). ReNew's clean energy contracted portfolio of ~15.6 GW on a gross basis as of May 31, 2024, is one of the largest globally. In addition to being a major independent power producer in India, we provide end-to-end solutions in a just and inclusive manner in the areas of clean energy, value-added energy offerings through digitalization, storage, and carbon markets that increasingly are integral to addressing climate change. For more information, visit renew.com and follow us on LinkedIn, Facebook, Twitter and Instagram.

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FAQ

What position has Sumant Sinha been appointed to in the Alliance of CEO Climate Leaders?

Sumant Sinha, Chairman and CEO of ReNew (RNW), has been appointed as Co-Chair of the Alliance of CEO Climate Leaders, the largest CEO-led climate alliance in the world.

What are ReNew's (RNW) carbon emission reduction targets?

ReNew (RNW) aims to be net zero by 2040 and has a 1.5°C-aligned science-based target validated by the Science Based Targets initiative (SBTi). The company has mitigated over 21 million tons of carbon emissions in the past two years.

What is the size of ReNew's (RNW) energy portfolio?

ReNew (RNW) has an overall portfolio of 21.4 GW, including both contracted and pipeline projects, positioning the company as a global energy transition leader.

What decarbonization solutions is ReNew (RNW) pioneering?

ReNew (RNW) is pioneering decarbonization solutions including innovative Power Purchase Agreements (PPAs), solar module manufacturing, carbon markets, power trading, and energy storage.

How many member CEOs are in the Alliance of CEO Climate Leaders?

The Alliance of CEO Climate Leaders consists of 130 member CEOs across 12 industries, collectively representing $4 Trillion in revenues and 5.2 GT of carbon emissions.