ITC Limited, one of India's leading private companies with diversified product-portfolio, has announced that it has set a target to meet 100 per cent of its purchased grid electricity requirements from renewable sources by 2030.
Marking a major step towards promoting sustainable solutions and responsible competition, the company has stated this would contribute to the fight against climate change. Currently, it is meeting over 40 per cent of its electrical energy requirement through clean energy sources including wind, solar and biomass.
Explaining the procedure of achieving the target, the company said that in order to eliminate the carbon component from the energy consumption process large scale digitalisation, investment into research & development, cross-sectoral collaborations and partnerships would take place.
The aforementioned measures are part of ITC's Sustainability 2.0 vision. Additionally, this can also be seen as the company's efforts in strengthening its renewable energy portfolio.
The current renewables portfolio of ITC consists of 138 MW of wind power plants and 14 MW of Solar plants with ~53MW of additional solar capacity under execution, according to Business Insider. It further added that projects in other sources of renewable energy like solar boiler or biomass boilers are a work-in-progress.
The publication also mentioned that the brand uses eco-friendly energy sources across 20 factories, 9 hotels and six office buildings in several states including Telengana, Tamil Nadu, Karnataka, Maharashtra, Andhra Pradesh, Rajasthan, Uttar Pradesh, Delhi, Bihar, Haryana, West Bengal and Punjab.
"Since making sustainability a core objective in all business operations two decades ago, we have worked on a low carbon growth plan, in which expanding our renewable energy portfolio is our top priority.' To pursue continuous improvement in energy and emission-related performance, we have taken up specific energy and Greenhouse Gas emission reduction targets. The results of our 360-degree sustainability initiatives are manifest in the company's decade-long achievements even as our businesses expand rapidly together with the creation of six million sustainable livelihoods.' ITC said its current renewables portfolio consists of 138 MW of wind power plants and 14 MW of solar plants with around 53 MW of additional solar capacity under execution," said ITC Ltd Group Head –R&D, Sustainability and Projects Sanjiv Rangrass.