Adani Ports ESG Rating Gets Upgrade, Gains Recognition For Climate Initiatives
Adani Ports managed to maintain its position as the top-ranked company in the low carbon transition rating within the port sector.
Adani Ports and Special Economic Zone Ltd.'s ESG ratings got an upgrade from Sustainalytics to a score of 11.3—a notch away from being classified as a company with negligible ESG risks.
Adani Ports managed to maintain its position as the top-ranked company in the low carbon transition rating within the port sector, demonstrating strong improvement in the last few years, the company said in a statement on Friday.
"We are pleased with the continuous improvement in our ESG performance and the ‘climate leadership position’ assigned by multiple ESG rating agencies," said Chief Executive Officer Ashwini Gupta. "We are now working on a net zero commitment by 2040 through renewable capacity deployment and greening the transportation."
Globally, Adani Ports stands in the 96th percentile in the S&P Global Corporate Sustainability Assessment 2023, ranking among the top 15 companies and supposedly the only port operator in this list of 334 players in the global transportation infrastructure sector.
The Adani Group company secured the highest score in the environmental dimension of the assessment, which has 56% weightage for climate indicators and strategy.
It has also received an ‘advanced’ rating in the last Energy Transition Rating from Moody’s and ranked first in India on ESG performance across all the sectors.
Climate Action Initiative
Adani Ports has received acknowledgement from CDP for its outstanding initiatives in addressing climate change and incorporating optimal methods throughout its supply chain via a strong involvement initiative.
The recognition was given at the event 'Climate Action in India: Role of Businesses & Supply Chain', organised jointly by the Federation of Indian Chambers of Commerce and Industry in New Delhi.
CDP has assigned Adani Ports an “A-" in both climate change and supplier engagement. The company received the highest rating of “A” for its initiatives in emission reduction, climate governance, supplier engagement, scope 3 emissions and risk management processes.
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