Ahmedabad, September 1 (IANS). Adani Energy Solutions Limited (AESL) on Tuesday announced that it has achieved the distinction of being the company with the highest ESG score globally in the utilities sector, following the recent review by S&P Global.
The company said it has revised its governance assessment, which had previously been rated Adverse, following the completion of S&P Global's recent Media and Stakeholder Analysis (MSA) review. This has resulted in a strong improvement in the ESG position of the company.
India's largest private transmission and distribution company has achieved an ESG score of 90 out of 100 and has reached the top position in the global utilities sector. At the same time, the average score of the industry is 41.
Prior to this review Adani Energy Solutions had an ESG score of 81. The Adani Group company said its disclosure-based Corporate Sustainability Assessment (CSA) score has also improved by 17 points year-on-year to 90.
Kandarp Patel, CEO, AESL, said, “Being recognized by S&P Global as the utility company with the highest ESG score globally is a proud moment for AESL and a strong affirmation of our commitment towards sustainable growth.”
“At AESL, sustainability is embedded in our everyday decision-making processes. This achievement reflects the commitment of our teams across the organization, who work to continuously strengthen environmental performance, social impact, governance standards and disclosure processes,” he said.
AESL's performance has been strong across all three ESG dimensions. The company has scored 93 in Environment, 89 in Social and 84 in Governance and Economic, which are much higher than the industry average.
According to the company, product management, climate strategy and human capital management have been major contributors to AESL's performance.
AESL is the largest private transmission company in the country. Its total transmission network is 29,739 circuit kilometers (CKM) and transformation capacity is 1,43,425 MVA.
In the retail power distribution business, AESL serves approximately 1.3 crore consumers in Mumbai Metropolitan Region and the industrial hub Mundra SEZ.
AESL is rapidly expanding its smart metering business and is moving towards becoming India's leading smart metering integrator company.
–IANS
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