Ahmedabad (Gujarat) [India], September 1 (ANI): Adani Energy Solutions (AESL), India's largest private transmission and distribution company, on Tuesday said it has achieved the highest ESG (Environmental, Social and Governance) score globally among companies in the Utilities sector, following the latest Media and Stakeholder Analysis (MSA) review by S&P Global.
As per the company statement, following the review, AESL's ESG Score increased to 90 out of 100, placing the company at the top of the global Utilities sector, compared with an industry average of 41, the company said.
ESG refers to environmental, social and governance factors used to assess a company's performance and practices beyond its financial results.
AESL said its score stood at 81 before the latest review. The company said the improvement followed a correction in the governance-related assessment that had previously affected its score.
The company's disclosure-based Corporate Sustainability Assessment (CSA) score also increased by 17 points year-on-year to 90, according to the statement.
AESL said its performance was strong across all three ESG areas. Its Environmental score was 93, while its Social score was 89 and Governance & Economic score was 84.
The company said these scores were significantly above the respective industry averages.
According to AESL, key factors supporting its performance included Product Stewardship, Climate Strategy and Human Capital Management.
"Being recognized as the highest ESG-scored utility company globally by S&P Global is a proud milestone for AESL and a strong validation of our commitment to sustainable growth. At AESL, sustainability is integrated into our everyday decision-making processes. This achievement reflects the dedication of our teams across the organization, who continuously work to strengthen our environmental performance, social impact, governance standards, and disclosure practices," said Kandarp Patel, CEO, AESL.
AESL is part of the Adani portfolio and operates across several areas of the energy sector, including power transmission, distribution, smart metering and cooling solutions.
The company said it is the country's largest private transmission company, with a cumulative transmission network of 29,739 ckm and a transformation capacity of 1,43,425 MVA. (ANI)
Adani Energy Solutions becomes world's highest ESG-scored utility with score of 90
