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Adani Ports strengthens ESG leadership, gains global recognition for climate initiatives

IANS | June 14, 2024 04:35 PM

AHMEDABAD: Adani Ports and Special Economic Zone Ltd (APSEZ) on Friday said it has been recognised by CDP (formerly the Carbon Disclosure Project) for its exceptional efforts in tackling climate change and implementing best Environmental, Social and Governance (ESG) practices across its supply chain through a robust engagement programme.

The global non-profit organisation assigned APSEZ a leadership band "A-" in both climate change and supplier engagement.

The Adani Group company received the highest rating of "A" for its initiatives in emission reduction, climate governance, supplier engagement, Scope 3 emissions and risk management processes.

"At APSEZ, we remain resolute in our commitment to sustainability, with concerted efforts to reduce carbon emissions. We are pleased with the continuous improvement in our ESG performance and the 'climate leadership position' assigned by multiple ESG rating agencies, " said Ashwini Gupta, Chief Executive Officer, APSEZ.

"We are now working on net zero commitment by 2040 through renewable capacity deployment and greening of transportation, " he added.

The award was presented at the 'Climate Action in India: Role of Businesses & Supply Chain’ ceremony, co-hosted by the Federation of Indian Chambers of Commerce & Industry (FICCI) in the national capital.

Meanwhile, with a score of 11.3, APSEZ is now a notch away from being categorised as a company with negligible ESG risks (score band of 0-10) by Sustainalytics.

Of the 16, 215 companies rated by Sustainalytics globally, APSEZ has a 95 percentile score, the company said.

Furthermore, APSEZ managed to maintain its position as the top-ranked company in the low-carbon transition rating within the port sector. Globally, APSEZ stands in the 96th percentile in the S&P Global Corporate Sustainability Assessment (CSA) 2023, ranking among the top 15 companies and supposedly the only port operator in this list from among 334 players in the Global Transportation Infrastructure sector.

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