ReNew receives carbon neutral status

Rhea-AI Summary

ReNew Energy Global PLC (NASDAQ: RNW, RNWWW) has achieved carbon neutral status for its operations across over 100 sites in India, verified by DNV. This marks a significant step towards its commitment to net-zero emissions established in March 2021. ReNew reported that during FY2021, it avoided more than 10 million tCO₂e emissions, which vastly exceeds its scope 1 and 2 emissions. The company is recognized among the top 10 renewable power producers in the world by Sustainalytics for ESG Risk Ratings, enhancing its leadership in sustainability and commitment to transparency in environmental practices.

Positive

• Achieved carbon neutral status for over 100 sites in India.
• Avoided over 10 million tCO2e emissions during FY2021.
• Rated among the top 10 renewable power producers globally by Sustainalytics.

Negative

• None.

GURGAON, India, Dec. 7, 2021 /PRNewswire/ -- ReNew Energy Global PLC (NASDAQ: RNW, RNWWW) announced that it has been verified as carbon neutral for its operations, which encompasses over 100 sites across India by DNV, a globally renowned provider of sustainability services. The verification was conducted for ReNew's scope 1 and scope 2 Green House Gas (GHG) emissions across its sites and facilities. Earlier this year, ReNew announced its commitment to be net-zero as per Science Based Targets in March 2021. By initiating the process of creating an inventory of its greenhouse gas emissions, ReNew set its path towards becoming carbon neutral. Going forward, ReNew would also work towards publicly disclosing its scope 3 emissions.

Over the past year, ReNew has continued to gain leadership in the ESG and sustainability space through ESG ratings, disclosures, and improved accountability. ReNew has been recently rated among the top 10 renewable power producing companies in the world on ESG Risk Ratings by Sustainalytics. In September 2021, ReNew released its first Sustainability Report for FY 2021, which was externally assured by DNV. During FY2021, the company avoided over 10 million tCO₂e emissions through its clean energy operations, which was 200 times its scope 1 and 2 emissions. Further, ReNew has adopted Environment, Social and Governance Policy, which paves the way for strengthening ESG governance and acting as the guiding force for greater ESG integration across its operations.

Ms. Vaishali Nigam Sinha, ReNew's Chief Sustainability Officer, said, "As an industry pioneer, we will intensify our efforts in the ESG domain to further lower our carbon footprint through focused activities, including energy efficient measures, digital initiatives and other targeted sustainability initiatives."

About ReNew - ReNew is one of the largest renewable energy Independent Power Producers (IPPs) in India and globally. ReNew develops, builds, owns, and operates utility-scale wind and solar energy projects, hydro projects and distributed solar energy projects. As of November 15, 2021, ReNew had a total capacity of approximately 10.3 GW of renewable energy projects across India, including commissioned and committed projects. For more information, please visit: www.renewpower.in; Follow ReNew Power on Twitter @ReNew_Power

View original content:https://www.prnewswire.com/news-releases/renew-receives-carbon-neutral-status-301439499.html

SOURCE ReNew Energy Global PLC

FAQ

When did ReNew Energy announce its carbon neutral status?

ReNew Energy announced its carbon neutral status on December 7, 2021.

What is ReNew's commitment regarding greenhouse gas emissions?

ReNew has committed to achieving net-zero emissions as per Science Based Targets, announced in March 2021.

How much CO2 emissions did ReNew avoid in FY2021?

ReNew avoided over 10 million tCO2e emissions through its clean energy operations in FY2021.

What recognition did ReNew receive from Sustainalytics?

ReNew was rated among the top 10 renewable power producing companies globally on ESG Risk Ratings by Sustainalytics.