Adani Green Energy ranks highest in NSE's ESG power sector benchmark
Ahmedabad (Gujarat) [India], June 15 (ANI): Adani Green Energy Ltd (AGEL) has been ranked first in the ESG (Environmental, Social, and Governance) ratings in utilities/ power sector by NSE Sustainability Ratings and Analytics Ltd, an entity of the National Stock Exchange (NSE), the Adani Group Company said in a statement.
Additionally, AGEL is among the top 5 entities in ESG ratings assessed from the top 100 listed companies by revenue across the National Stock Exchange (NSE).
NSE recently launched its ESG ratings for listed companies.
NSE's Rating rationale states AGEL performed well across Environment, Social and Governance parameters.
Environmental initiatives are well-integrated, supported by socially responsible practices and effective governance. It demonstrates a mature sustainability approach.
According to NSE Sustainability Ratings and Analytics Ltd, AGEL received an impressive ESG score of 74, the highest within the utilities and power sector.
'This underscores AGEL's commitment to sustainable practices and its continuous efforts to uphold environmental, social, and governance standards,' AGEL statement read.
'AGEL excelled in governance with a score of 76, reflecting the company's robust governance practices, well-organized board structure, and ethical conduct. Its mature approach to risk management further highlights AGEL's commitment to transparency and accountability.'
Gautam Adani, Chairman of the Adani Group, highlighted AGEL's dedication to governance and sustainability, in its 2024-25 Annual report stating, 'Our governance is of global standards, and our compliance frameworks are robust and non-negotiable.'
The company also earned a high social score of 73, demonstrating its focus on health and safety measures for employees, customer safety, and community welfare initiatives.
'AGEL's responsible sourcing and efficient supply chain management further reinforced its position as a leader in socially responsible practices,' AGEL statement read.
NSE Sustainability Ratings and Analytics Ltd evaluates companies based on over 2,000 data points, providing a transparent and materiality-based methodology aligned with national and international standards.
The Securities and Exchange Board of India (SEBI) officially approved NSE Sustainability Ratings and Analytics Ltd as a Category 1 ESG Ratings provider on August 13, 2024.
Besides, AGEL has also consistently garnered recognition from global ESG rating agencies.
According to the AGEL statement, it ranks No. 1 in Asia and among the Top 5 globally in the renewable energy sector in the highest ESG category, 'Prime Band A-,' with a Decile Rank 1 by ISS ESG.
Sustainalytics has ranked AGEL among the Top 10 globally, while the S&P Global Corporate Sustainability Assessment 2023 placed AGEL in the 92nd percentile among 266 companies globally within the Electric Utility sector.
CRISIL ESG Assessment has consecutively ranked AGEL first in the power sector for three years, and FTSE Russell's ESG rankings placed AGEL in the 93rd percentile globally in the Utilities Supersector. (ANI)
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