Decarbonization Initiatives and Net-Zero Commitment
In a major stride towards decarbonization, the Adani Group, a key player in India’s green energy transition, reveals a noteworthy commitment of $100 billion over the next decade. This substantial investment aligns with the conglomerate’s ambitious goal to achieve net-zero emissions by 2050 or even earlier for five major portfolio companies, including Adani Green Energy, Adani Energy Solutions, Adani Ports & SEZ, ACC, and Ambuja Cements.
ESG Compendium Highlights Progress
The release of Adani Group’s half-yearly ESG (Environmental, Social, and Governance) compendium underscores significant progress on its decarbonization journey and its contribution to the global net-zero initiative. ESG parameters are instrumental in screening investments based on corporate responsibility, reflecting the company’s commitment to responsible practices.
Key Initiatives and Investments
The Adani Group’s comprehensive strategy encompasses active decarbonization efforts, a commitment to plant 100 million trees by 2030, and innovative pilot projects. One such project involves the development of a hydrogen fuel cell electric truck, marking a significant leap in green transportation solutions.
Advancements Across Portfolio Companies
Adani Energy Solutions has made substantial progress by increasing its renewable energy share to an impressive 38.3%, positioning Mumbai as a leading procurer of renewable energy among megacities. Adani Green Energy, rated the highest utility company globally by Sustainalytics, achieved zero waste to landfill for all operational sites.
Adani Ports & SEZ, with 15 ports and logistics businesses, is on track to achieve net-zero by 2040, significantly reducing energy intensity, emissions, and water consumption intensity. Adani Enterprises, focusing on integrated green hydrogen projects, is building three giga-factories for solar panels, wind turbines, and hydrogen electrolysers. The company’s proactive experimentation with green hydrogen-based decarbonization solutions anticipates wider adoption as costs decrease.
Strategic Collaborations and Future Milestones
Adani Power’s collaboration with IHI Corporation and Kowa Company explores ammonia co-firing, initially targeting the decarbonization of coal-fired plants. Additionally, a groundbreaking agreement with Ashok Leyland and Ballard Power aims to develop Asia’s first hydrogen fuel cell electric truck for mining logistics and transportation.
As the Adani portfolio pledges to plant 100 million trees by 2030, the conglomerate remains steadfast in its commitment to advancing India’s green energy transition and playing a pivotal role in the global shift toward sustainable practices.
Source：ndtv.com
