“Sustainability is one of the fundamentals of our business strategy at ReNew.” – Vaishali Nigam Sinha
NEW DELHI (India CSR): Marking 15 years of pioneering leadership in India’s renewable energy landscape, ReNew Energy Global Plc (NASDAQ: RNW), the nation’s foremost decarbonization solutions provider, has unveiled its second Annual Integrated Report for FY 2024-25, titled “Scaling New India’s Leap with Clean Energy Solutions: Innovating Sustainably.” The report highlights ReNew’s advancements, innovative initiatives, and unwavering commitment to supporting India’s Net Zero ambitions.
Vaishali Nigam Sinha, Co-Founder and Chairperson – Sustainability, ReNew, in his message to stakeholders, emphasized, “As the global economy advances toward climate-aligned development, the defining trends suggest a growing consensus—clean energy is no longer at the periphery but at the centre of economic, technological, geopolitical, and climate strategy.”
In her reflections as Co-Founder and Chairperson of Sustainability at ReNew, Vaishali Nigam Sinha articulates a transformative vision for clean energy as a cornerstone of global progress. With the exponential growth of artificial intelligence (AI), the proliferation of data centers, and a widespread shift from fossil fuels to renewable electricity, global electricity demand is surging at an unprecedented rate. Sinha highlights the critical role of energy security, underpinned by a clean energy transition, amid rising geopolitical tensions and the urgent need to limit global warming to 1.5°C. According to the International Energy Agency (IEA), global renewable capacity is projected to grow 2.7 times by 2030 compared to 2022 levels, signaling a monumental shift in the energy landscape.
India’s Leadership in the Global Energy Transition
“India, now the world’s fourth-largest economy, reflects this shift in the global energy spectrum.” – Vaishali Nigam Sinha
As the fastest-growing developing economy and the most populous nation, India is poised to lead the global Net Zero transition. With a government target of achieving 500 GW of non-fossil fuel capacity by 2030, India has already reached 228 GW as of Q1 2025. This progress aligns with the nation’s ambitious 2047 vision of Viksit Bharat—a developed India that champions sustainable progress. ReNew, a key player in this journey, is accelerating India’s clean energy transition through expanded manufacturing capacity and innovative solutions grounded in environmental, social, and governance (ESG) principles.
In FY 2024-25, ReNew’s commissioned clean energy portfolio of 10.7 GW generated over 22 billion kWh of clean energy, meeting 2% of India’s electricity demand. This effort powered more than 6 million households and avoided 18.6 million tonnes of carbon emissions, underscoring ReNew’s pivotal role in shaping a sustainable future.
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Sustainability as a Core Business Strategy
“Sustainability is one of the fundamentals of our business strategy at ReNew.” – Vaishali Nigam Sinha
ReNew’s sustainability journey is guided by its ReSTART framework, a comprehensive set of goals and targets spanning environmental, social, and governance dimensions. Governed by an independent ESG Committee at the board level, ReNew embeds the highest standards of sustainability across its operations.
In FY 2024-25, the company advanced its sustainability commitments through decisive actions:
- Climate and Nature Risk Assessments: ReNew refreshed its climate risk assessment in line with IFRS S2 guidelines and conducted its first nature risk assessment aligned with the Taskforce on Nature-related Financial Disclosures (TNFD), enhancing its understanding of biodiversity-related risks and opportunities.
- Circularity and Transparency: The company conducted a Life Cycle Assessment (LCA) for modules manufactured at its Jaipur plant and published its first Environmental Product Declaration (EPD).
- Value Chain Engagement: ReNew achieved 95.1% traceability across its Solar PV value chain and conducted third-party ESG assessments for 100% of its critical suppliers, aligning them with ReNew’s ESG targets.
These efforts have positioned ReNew as a leader in sustainability, as evidenced by its inclusion as the only Indian pure-play clean energy company in the Electric Utilities sector in the S&P Global Sustainability Yearbook 2025, with a 33% increase in its ESG score in just one year.
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A Holistic Approach to Environmental Stewardship
“Our SBTi-validated Net Zero target for 2040, a first for an Indian pure-play renewable energy company, reflects our unwavering commitment to India’s climate goals.” – Vaishali Nigam Sinha
As the global climate crisis intensifies with more frequent extreme weather events, rising temperatures, and growing threats to biodiversity and water security, ReNew has adopted a measurable and comprehensive approach to environmental sustainability. The company achieved an 18.2% reduction in Scope 1 and 2 emissions from its FY 2021-22 baseline and maintained carbon neutrality for Scope 1 and 2 emissions for the fifth consecutive year. Additionally, 76% of its electricity was sourced from renewables, surpassing its 2025 target of 50%.
Water stewardship is another critical pillar of ReNew’s strategy. With a goal to become water-positive by 2030, two of ReNew’s operational sites achieved water positivity status in FY 2024-25, as recognized by NITI Aayog’s Water Neutrality Report for Indian Industry.
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Building an Inclusive and Future-Ready Workforce
“Progress is most powerful when it is inclusive, and at ReNew, we are actively working to ensure that women are not just participants but leaders in India’s clean energy transition.” – Vaishali Nigam Sinha
Recognizing that women constitute only 11% of India’s renewable energy workforce—well below the global average of 32%—ReNew is taking deliberate steps to foster inclusivity. In FY 2024-25, the company achieved a 16% gender diversity rate, doubling its progress over the past four years. Women now represent 40% of ReNew’s board, 12% of STEM roles, and 17% of management positions. In a groundbreaking initiative, ReNew piloted a fully women-led post-lamination line at its Jaipur module manufacturing plant as part of its ReSTART targets.
Beyond the workplace, ReNew’s Project ReNew Surya is empowering women in Gujarat’s Salt Pan communities by training over 575 women as solar technicians, with plans to reach over 1,000 more. This initiative exemplifies ReNew’s commitment to inclusive progress.
To address the growing skills gap in India’s renewable energy sector, which employs 1.02 million people and has the potential to add over 3 million jobs by 2030, ReNew invested over 792,000 hours in learning and development in FY 2024-25, including 631,944 hours of safety training. This focus on capability-building and employee well-being contributed to a 5% reduction in the Lost Time Injury Frequency Rate (LTIFR), reaching 0.21.
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Looking Ahead: Scaling Momentum for a Net Zero Future
“As we unveil our next chapter of progress, we remain committed to building clean energy ecosystems that are integrated, inclusive, and future-ready.” – Vaishali Nigam Sinha
FY 2024-25 marked a year of significant operational and sustainability milestones for ReNew, reinforcing its leadership in India’s clean energy transition. Moving forward, the company aims to scale this momentum through enhanced transparency, robust disclosures, and data-driven decision-making. By fostering integrated, inclusive, and future-ready clean energy ecosystems, ReNew is not only aligning with India’s climate goals but also setting a global benchmark for sustainable progress.
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(India CSR)
