ReNew avoids 14 MT carbon emission in FY23, says company report

New Delhi: Clean energy firm ReNew on Thursday said the company managed to avoid over 14 million tonnes of carbon emissions during the fiscal year ended March 31, 2023. According to its ‘Third Sustainability Report: Driving Decarbonisation‘, the company also saved 3.18 lakh kilolitres of water during FY23, a 48 per cent year-on-year increase. “ReNew’s net-zero targets by 2040 were validated by SBTi which include an interim commitment to reduce absolute Scope 1, 2 and 3 GHG (greenhouse gases) emissions by 29.4 per cent by FY 2026-27, from a base year of FY 2021-22,” it said.

During the year, 17,385 GWh of clean energy was produced which could power 5 million Indian households annually.

The report further said that around 10 lakh people have been covered under the company’s CSR initiatives in areas like climate education, school electrification and water conservation. Vaishali Nigam Sinha, Co-Founder and Chairperson – Sustainability, ReNew, said: “We measure the true value and success of our business by our financial performance and our environmental, social and governmental impact. We have set ambitious and measurable goals in each of these areas, such as reducing our carbon footprint, enhancing our social contribution, and promoting inclusivity and diversity in our workforce.”

ReNew has a clean energy portfolio of about 13.7 GW (gigawatt) as of June 30, 2023, which includes solar and wind capacities.