We have set ambitious goals and strategies for climate action and ESG performance, consistently tracking and reporting our progress to ensure long-term resilience and impact.
Our ESG Ambitions
VisionTo be a world-class leader in businesses that enrich lives and contribute to nations in building infrastructure through sustainable value creation.
PurposeDecarbonising the Nation’s Growth
GoalsTo be in the Top 10 Companies of the World in ESG Benchmarking of Electric Utility Companies
To achieve50 GWRenewable Energy Capacity by 2030
Aligning with UNSDGs
Business, Environment and Climate Action
| Contribution to UNSDGs | |
|---|---|
Decarbonisation of Nation
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| Decarbonisation of Value Chain Increasing adoption of Electric Vehicles (EVs) in the fleet | |
| Resource Efficiency and Circular Economy ‘Water Positive’, ‘Single-use-Plastic-Free (SuP Free)’ and ‘Zero-Waste-to-Landfill’ operational sites |
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| Biodiversity Signatory to IBBI and advancing towards No Net-Loss to Biodiversity by 2030 through strategic initiatives |
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Responsible Business Practices
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Social Interventions
| Contribution to UNSDGs | |
|---|---|
Responsible Supply Chain
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Caring for Our People
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Empowering Communities
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ESG Framework
United Nations Global Compact (UNGC)
UN Sustainable Development Goals (UNSDG)
India Business & Biodiversity Initiative (IBBI)
Green Loan / Bond Principles
IFC E&S Performance Standards
Disclosure Standards
TCFD
TNFD
SASB
GRI
CDP
SEBI’s BRSR
ENVIRONMENT
GOVERNANCE
Integrated Management System (IMS) Policy ESG Policy Policy on Business Responsibility and Sustainability Reporting (BRSR)
- Environmental Policy
- Energy Management Policy
- Biodiversity Policy
- Resource Conservation Policy
- Sustainable Procurement Policy
- Water Stewardship Policy
- Climate Change Policy
- Policy on Board Diversity
- Code of Conduct
- Related Party Transaction Policy
- Anti-Corruption & Anti-Bribery and Conflict of Interest Policy
- Land Procurement Policy
- Policy on Material Subsidiary
- Insider Trading Policy
- Executive Remuneration - Malus and Clawback Policy
- Familiarisation Programme For Independent Directors
- Cyber Security Policy
- Data Privacy Policy
- Remuneration Policy
- Whistle Blower Policy
- Anti Slavery Policy
Best-in-Class Management Systems and Assurance
Integrated Management Systems
- ISO 9001:2015 Quality management systems
- ISO 14001:2015 Environmental Management Systems
- ISO 45001:2018 Occupational Health and Safety Management System
- ISO 50001:2018 Energy Management Systems
- ISO 55001:2014 Asset Management Systems
- ISO 27001: Information Security Management Systems
- ISO 22301:2019 Security and Resilience — Business Continuity Management Systems
- ISO 27031:2011 Information and Communication Technology Readiness for Business Continuity Management Systems
Robust ESG Governance and Impact Management
- Board-led ESG governance with support from management team to drive implementation
- Structured process for stakeholder engagement and material issues identification
- Regular audits and inspections to enhance compliance
- Training and capacity building of employees and business partners to drive impact
Click here to read about Stakeholder EngagementESG and Climate Change Governance
At AGEL, we have developed a robust governance structure to ensure effective decision-making and consistent implementation of actions at all levels. This structure also manages and mitigates climate-change-related impacts, demonstrating our commitment to resilience and adaptability. Our comprehensive approach facilitates the efficient delegation of roles and responsibilities from the Corporate Responsibility Committee (CRC) to ESG Project Champions. We have also created a roadmap to strengthen our governance structure further. The governance framework is meticulously overseen by the Board of Directors, which includes several key committees: the Risk Management Committee, the Corporate Social Responsibility Committee, the Corporate Responsibility Committee, and the Stakeholders' Relationship Committee. The CEO further supports this robust structure, with active involvement from ESG Mentors, the Chief Sustainability Officer, the ESG APEX Committee, functional heads, the Chief Risk Officer, and the Head of Business Excellence (BEx). The ESG Core Working Group, comprising ESG Project Champions and various specialised teams, plays a vital role in implementing ESG initiatives.
ESG Performance in FY 2024-25
Environment
| Key Indicators | Performance in FY 2024-25 | Targets |
|---|---|---|
| Climate Change – Energy and Emissions | ||
| Renewable energy operational capacity | 14.2 GW | 50 GW by 2030 |
| Adoption of Electric Vehicles in fleet | 46% achieved | 65% by 2030 |
| Climate Change Risk Assessment | Completed for 100% operational locations (achieved in FY 2023-24) |
To be done for 100% operational locations (TCFD-aligned) |
| Resource and Waste Management | ||
| Water Positive Status | Achieved Water Positive status for 100% operational locations (achieved in FY 2024-25) |
To achieve Water Positive status for 100% operational locations by FY 2026 |
| Zero Waste to Landfill (ZWL) certification | Sustained ZWL status for 100% operational locations (achieved in FY 2022-23) |
To sustain ZWL status for 100% operational locations |
| Single-Use-Plastic (SUP) free operations | Sustained SUP-free status for 100% operational locations (achieved in FY 2021-22) |
To sustain SUP-free status for 100% operational locations |
| Biodiversity | ||
| No Net Loss of Biodiversity (NNL) in alignment with IBBI | Progress on track towards achieving NNL by 2030 | Achieve NNL by 2030 |
| Tree Plantation | 9,042 trees planted in FY 2024-25 1,44,818 trees planted till FY 2024-25 |
Plant 27.86 million trees by FY 2029-30 as part of the Chairman’s commitment to growing 100 million trees by 2030 |
| ESG Ratings | ||
| ESG Ranking in Electric Utility sector | 1st in Asia and part of Top 5 globally in RE sector with Topmost rating by ‘ISS ESG’ | Rank among the Top 10 global companies |
| Ranked 3rd globally in the Alternative Electricity Subsector by ‘FTSE RUSSELL’ – Topmost score in Governance | ||
| 1st rank in the Power Sector for third consecutive year by ‘CRISIL’ | ||
| In Sustainalytics’s ESG Assessment, AGEL was placed amongst the top 10 in RE sector globally | ||
Social
| Key Indicators | Performance in FY 2024-25 | Targets |
|---|---|---|
| People and Health & Safety | ||
| Women representation of workforce | 3.3% | Increase Gender Diversity to 8% by FY 2029-30 |
| Zero Harm, Zero Leak | 0.04 LTIFR | Zero |
| Supply Chain | ||
| GHG Suppliers’ Engagement Programme for decarbonisation of value chain | 87% manufacturing suppliers engaged | 100% critical and manufacturing suppliers to be engaged by FY 2025-26 |
| ESG evaluation of suppliers | 100% manufacturing suppliers screened/evaluated using ESG parameters in FY 2024-25 | ESG screening/evaluation of 100% manufacturing suppliers to be completed by FY 2025-26 |
Governance
| Key Indicators | Performance in FY 2024-25 | Targets |
|---|---|---|
| Corporate and ESG Governance | ||
| Cases of violation of Code of Business Ethics and Conduct | Zero | Zero |
| Cases of discrimination and sexual harassment | Zero | Zero |
| Cases of human rights violations | Zero | Zero |
| ESG upskilling of Board of Directors | 100% | 100% |
ESG Ratings
4.2/5Global Rank 3 in alternative electricity segment
Prime Band (A-)Rank 1 in Asia & top 5 globally in RE sector
15Low Risk Top 10 globally in RE sector
66/100Rank 1 in Power Sector in ESG in fourth consecutive year
Ranked in the 97th Percentile CSRHUB
74/100S&P Global CSA
BBBMSCI
Awards and Recognitions
India's Top-most Sustainable Company by BW Business World
Top-most Sustainability Performer within the Energy & Mining Sector by BW Business World
Awarded Sword of Honour for its commitment to safety by the British Safety Council with 5 Star Rating
CSO Message
It is with immense pride and unwavering commitment that we share the remarkable progress AGEL has made in the realm of ESG practices over the past year. This year, we have achieved the Water Positive Goal for 100% of our operational portfolio with a water balance index of 1.64. Additionally, 54% of our operational capacity is now installed with robotic technology for cleaning PV modules, which is saving ~5.5 lakh KL water annually. In FY 2024-25, we have been able to reduce our energy intensity & operational GHG emissions intensity by 11% and operational water intensity by 28%. We have undertaken numerous initiatives to uplift local communities through various CSR initiatives focussing on sustainable livelihoods, education, health & nutrition and climate actions ensuring they benefit from our presence. AGEL has consistently adhered to the highest standards of corporate governance, ensuring that our operations are not only efficient but also responsible. Our rigorous compliance mechanisms and proactive risk management strategies have fortified our resilience and built trust with stakeholders globally. We attained ISS ESG ranking of 1st in Asia and top 5 globally, FTSE ranking amongst top 3 globally and Sustainalytics ranking amongst top 10 globally in RE sector. As we forge ahead, AGEL will continue to innovate and implement strategies that align with our ESG goals. We remain committed to setting new benchmarks in the renewable energy sector, driving positive change, and contributing to the UNSDGs.
Pankaj K Verma Chief Sustainability Officer - AGEL
