This recognition is a significant achievement, given that CAP 2.0° aims to help industries in contracting climate risk and explore market opportunities to become climate resilient. The CAP2.0° Awards are framed on the Climate Maturity model and the European Foundation for Quality ManagementModel(EFQM), which assess companies on their preparedness for business proofing against climate change.
Adani Transmission received this award under the ‘Oriented’ category. This confirms that the company’s strategy is synchronised with climate change issues and impacts, climate risk is factored in the company’s Enterprise Risk Management (ERM), competent persons are handling the climate-linked portfolio, and the organisation has adopted futuristic GHG emission reduction targets to combat climate change. ATL received the CAP 2.0° award from Mr Avinash Mishra, Advisor, Natural Resources & Climate Change NITI Aayog at the forum in New Delhi.
“The CAP 2.0° award is an encouraging and responsible recognition of our continuous efforts towards climate change mitigation and improving productivity and efficiency through a clear focus on sustainability”, said MrAnil Sardana, MD & CEO, ATL. “The organizational initiatives to become Net Zero, Zero Waste to Landfill (ZWL), and Single-Use Plastic Free(SUP) along with focused efforts to achieve them, combined with the CII-CAP 2.0° award, demonstrates our commitment to climate change mitigation for a sustainable future. ATL always strives to benchmark itself in best-in-class sustainability practices and intends to emerge as a world-class integrated utility.”
ATL’s long-term environment-social-governance (ESG) commitment has emerged as the most effective counter-response in the current scenario. Additionally, ATL has also defined its targets in line with Sustainable Development Goals (SDGs). Prominent among these is SDG-13 for Climate Action. The company’s target for reducing GHG emissions is in line with India’s Nationally Determined Contribution (NDC).
ATL’s commitment to climate change has already been manifested by its action-oriented ESG strategy, which has resulted in a reduction in GHG per unit of its revenue. ATL has also conducted a climate scenario-based analysis using IPCC’s RCP 4.5 (medium emission) to assess climate risk and impact on its operating and related project site. In FY 2021-22, ATL has committed toward Net-Zero and SBTi 1.5°C trajectory.
Through the climate targets aligned with India’s climate commitments, ATL aims to be in the top-5 companies in India for ESG benchmarking of the electric utility sector by FY 2022-23, accelerate the creation of supporting infrastructure to source 50% renewables in total electricity distribution by ATL- Adani Electricity Mumbai Ltd (AEML) by 2027, become a Zero-Waste-to-Landfill (ZWL) certified company for 100% of business activities under O&M phase by 2024-25, become Single-use-Plastic-Free (SuPF) certified company by 2022-23, and many such climate leadership initiatives.
CAP 2.0° is a recognition and capability enhancement programme promoted by CII Centre for Excellence for Sustainable Development (CESD) for businesses to become climate resilient. Based on a CII climate-maturity model and using the principles of business excellence framework, CAP 2.0° helps businesses to assess climate change-related risks and opportunities and integrate the mitigation actions into their long-term strategies. It is a benchmark program recognising the Industry’s climate mitigation and adaptation initiatives to cascade learnings and encourage quick scale-up, thereby contributing to India’s climate goals.