Ahmedabad, Nov 28 (SocialNews.XYZ) Adani Power on Thursday said it has achieved an exceptional score of 67 (out of 100) in the corporate sustainability assessment (CSA) by global rating agency S&P Global for FY 2023-24.
This compares to the sectoral average of 42 and Adani Power's own FY23 score of 48. With this score, Adani Power Ltd (APL) is in the top 80 percentile of all global electric utilities.
In several elements of CSA score like human rights, transparency and reporting, water, and waste and pollution, it is in the top 100 percentile. In three more – energy, occupational health and safety, and community relationship – it is in the 90 percentile or above category, said the company.
The S&P Global CSA Score is the S&P Global ESG Score – a measure of a company's performance and management of material ESG risks, opportunities, and impacts informed by a combination of its disclosures, media and stakeholder analysis - without any modelling approaches. APL's S&P Global ESG Score is also 67.
"This remarkable achievement underscores APL's steadfast commitment to sustainable practices and dedication to embedding Environmental, Social, and Governance (ESG) principles into its operations," said the company.
Adani Power has an installed thermal power capacity of 17,510 MW spread across 11 power plants in Gujarat, Maharashtra, Karnataka, Rajasthan, Chhattisgarh, Madhya Pradesh, Jharkhand, and Tamil Nadu, apart from a 40 MW solar power plant in Gujarat.
The Adani Group company reported 20 per cent growth (year-on-year) in continuing revenue at Rs 28,517 crore in the first half of this fiscal (HI FY25) and 10.8 per cent growth to Rs 13,465 crore in Q2 FY25. Continuing profit before tax (PBT) grew 69 per cent to Rs 8,020 crore in H1 FY25 and 44.8 per cent to Rs 3,537 crore in Q2 FY25.
Consolidated power sale volume stood at 46 billion units (BU) in H1 FY25, up by 29.2 per cent from 35.6 BU in H1 FY24, due to improved power demand and higher operating capacity.
Source: IANS
About Gopi
Gopi Adusumilli is a Programmer. He is the editor of SocialNews.XYZ and President of AGK Fire Inc.
He enjoys designing websites, developing mobile applications and publishing news articles on current events from various authenticated news sources.
When it comes to writing he likes to write about current world politics and Indian Movies. His future plans include developing SocialNews.XYZ into a News website that has no bias or judgment towards any.
He can be reached at gopi@socialnews.xyz