Tata Power Tops Among India Power Utilities In S&P’s CSA Scores

Tata Power Tops Among India Power Utilities In S&P’s CSA Scores

Tata Power, one of India’s largest integrated power companies, secured the highest score among its peers in the Indian Power sector in S&P Global’s recently released Corporate Sustainability Assessment (CSA) results. ESG parameters are becoming increasingly relevant as markets across the world start to consider these for critical issues such as financing.

Tata Power has fared well on all ESG parameters viz. Environmental, Social and Governance. It has scored 67 out of 100, which is significantly higher than the average world electric utility sector (comprising both Indian and global electric utilities) score of 38.

ESG Scores

Pic Courtesy: S&P Global

The S&P Global CSA is an annual evaluation of companies’ sustainability practices since 1999 and seeks to be a credible reflection of companies’ sustainability practices. In this assessment over 10,000 companies from around the world were evaluated on industry-specific and financially material issues.

“We are happy to have achieved such encouraging scores in the S&P Global Corporate Sustainability Assessment. This is a testament to our continuous efforts towards building an organization that truly lives the credo of #DoGreen and is focussed on transition to a clean energy powered future.” said Dr. Praveer Sinha, CEO & Managing Director, Tata Power.

ESG is core focus for Tata Power and has been integrated into the company’s business strategy. The firm has taken multiple steps to ensure this, from a commitment  to ‘Carbon Neutrality ‘ before 2045 to the only Indian Power company to co-create the first SDG roadmap for power utilities along with WBCSD and 10 other leading global power companies. It also claims to have developed a roadmap to achieve Water Neutrality and Zero Waste to Landfill by 2030.

The company has shifted focus to sustainability led initiatives in its business, with a full focus on renewable energy, solar manufacturing, EV charging, among others. The firm has also expanded its reach in distribution and to retail customers in its businesses.

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