India’s largest renewable energy producer also aims for the top 10 ESG electric utility companies worldwide by FY25
NEW DELHI (India CSR): Adani Green Energy Limited (AGEL), the largest renewable power producer in India, has earned the top rank in Asia and sits among the top 10 companies globally in the renewable energy sector. This ranking was released by the International Shareholder Services Inc. Environmental, Social, and Governance (ISS ESG).
Prime Recognition
AGEL has achieved a ‘Prime’ (B+) band placement, signifying its strong ESG disclosure practices and high transparency levels. This milestone marks AGEL’s steady progress towards its goal of ranking among the world’s top 10 ESG companies in the electric utility sector by FY25. In FY23, Sustainalytics had also included AGEL in the world’s top 10 renewable energy sector companies.
Largest Operating Renewable Portfolio
The company holds the most extensive operating renewable portfolio in India, comprising 8,216 MW. AGEL’s operations demonstrate clear environmental benefits by combating climate change and facilitating the shift to a more sustainable energy system. The company addresses relevant social and environmental risks through comprehensive management systems.
ESG Principles at Core Strategy
AGEL strongly believes in incorporating ESG principles at the core of its business strategy. Following these principles fosters resilience, transforms culture, and creates long-term value by systematically identifying opportunities, managing risks, and safeguarding the interests of all stakeholders. As a pure-play renewable energy company, AGEL contributes to India’s decarbonization goals by generating and supplying renewable energy to the grid.
Building a Sustainable Energy Future
“AGEL’s ESG framework is built on four pillars – guiding principles, policies, commitment, and assurance,” stated Mr. Vneet S Jaain, MD, Adani Green Energy Ltd. “Our policies are aligned with the UN Global Compact, UN Sustainable Goals, India Business and Biodiversity Initiatives, Green Bond Principles, and IFC’s E&S Performance. We aim to be among the top 10 companies globally in the ESG benchmarking of the electric utility sector by FY25.”
Comprehensive ESG Ratings
The ESG Corporate Rating offers relevant and future-oriented ESG and performance evaluations. With a pool of about 700 standard and industry-specific indicators, ISS ESG applies approximately 100 environmental, social, and governance-related indicators for each rating.
Safety and Conduct Policies
AGEL has implemented a group-wide health and safety management system, certified per ISO 45001 standards. The company maintains a code of conduct for all employees and has specific policies on whistleblowing and corruption.
Sustainable Projects and Goals
Adani Green develops, builds, owns, operates, and maintains utility-scale grid-connected solar and wind projects. The electricity produced is supplied to central and state government entities and government-backed corporations. The company is on track to achieve its target of 45 GW renewable energy capacity by 2030, contributing to India’s renewable energy dreams.
About Adani Green Energy Limited
Adani Green Energy Limited (AGEL) is part of the India-based Adani Group. With a 20.4 GW portfolio, AGEL boasts one of the largest global renewable portfolios, including operating, under-construction, and awarded projects catering to investment-grade counterparties. AGEL develops, builds, owns, operates, and maintains utility-scale grid-connected solar and wind farm projects. Key customers include the Solar Energy Corporation of India (SECI), National Thermal Power Corporation (NTPC), and various State Discoms.
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