Corporate News     07-Mar-24
SBTi validates Tata Power's near-term sustainability targets
Tata Power has received validation from the Science Based Targets initiative (SBTi) for its near-term objectives. This milestone establishes the Company as the sole Indian Integrated Power entity with validated SBTi targets, in line with the well-below 2°C trajectory.

Tata Power's ambitious goals include a commitment to considerably "reduce scope 1 GHG emissions by FY2037 from a FY2022 baseline" and "achieve a reduction in scope 1 and 3 GHG emissions from the generation of all sold electricity within the same timeframe."

SBTi has meticulously validated the Company's targets against the Near-Term Target Criteria and Recommendations. By adhering to science-based criteria, the Company aims to lead by example and catalyse positive change in the industry and beyond, playing a crucial role in addressing the global climate crisis in line with its Sustainable is Attainable movement.

The SBTi, a collaboration between CDP (Carbon Disclosure Project), the United Nations Global Compact (UNGC), the World Resources Institute (WRI), the World Wide Fund for Nature (WWF), and the We Mean Business Coalition, works to promote ambitious corporate climate action by enabling businesses and financial institutions globally to establish science-based greenhouse gas emissions reduction targets.

The Company first made a commitment to SBTi in 2021 and since then has taken significant steps in providing round-the-clock clean and green solutions for its customers. As a pioneer of the clean energy transition in India, Tata Power today has 5604 MW of clean energy generation, which constitutes 39% of its total capacity. The company has also committed to achieve carbon neutrality before 2045.

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