Adani Power Achieves High Sustainability Score
Adani Power Ltd, a subsidiary of the Adani Group, has achieved a commendable score of 67 out of 100 in the Corporate Sustainability Assessment (CSA) conducted by S&P Global for the fiscal year 2023-24. This score surpasses the sectoral average of 42 and exceeds APL's previous score of 48 for FY23.
This achievement places Adani Power in the top 80th percentile among global electric utilities. The company excels in various aspects of the CSA score, including Human Rights, Transparency & Reporting, Water, and Waste & Pollution, where it ranks in the top 100th percentile. Additionally, in areas like Energy, Occupational Health & Safety, and Community Relationship, Adani Power is in the 90th percentile or above.
The S&P Global CSA Score is derived from the S&P Global ESG Score, which evaluates a company's handling of material ESG risks, opportunities, and impacts based on disclosures, media, and stakeholder analysis, without utilizing any modeling techniques. APL's S&P Global ESG Score currently stands at 67, showcasing the company's unwavering dedication to sustainability and integration of Environmental, Social, and Governance (ESG) principles into its business practices.
This news has been met with positive reactions, with shares of Adani Power closing at Rs 560.20, up by 6.95%. This indicates investor confidence in the company's commitment to sustainability and its potential for future growth.