APSEZ receives recognition for climate initiatives - Port Technology International
APSEZ receives recognition for climate initiatives - Port Technology International
CDP has honoured Adani Ports and Special Economic Zone Ltd (APSEZ) for its efforts in addressing climate change and adopting best practices across its supply chain.
The award was given during the ‘Climate Action in India: Role of Businesses & Supply Chain’ ceremony in New Delhi, which was co-hosted by the Federation of Indian Chambers of Commerce & Industry (FICCI).
CDP has rated APSEZ as an ‘A-‘ leader in both climate change and supplier involvement. The organisation achieved the highest ‘A’ grade for its efforts in carbon reduction, climate governance, supplier participation, scope 3 emissions, and risk management systems.
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Notably, only a small number of organisations are consistently ranked as leaders in both climate change and supply chain participation.
Sustainalytics has increased APSEZ’s ESG performance. With a score of 11.3, APSEZ is reportedly one notch away from being classified as a firm with insignificant ESG risks (score range of 0-10).
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Ashwini Gupta, Chief Executive Officer, APSEZ, said: “We remain resolute in our commitment to sustainability, with concerted efforts to reduce carbon emissions.
“We are pleased with the continuous improvement in our ESG performance and the ‘climate leadership position’ assigned by multiple ESG rating agencies. We are now working on net zero commitment by 2040 through renewable capacity deployment and greening the transportation.”
In April, APSEZ handled 420 million metric tonnes (MMT), an increase of 24 per cent year-over-year (YoY) cargo in FY24 (including international ports).
Related Knowledge Center: Climate economics
Climate change is now a driver of the world’s economy. The impact is profound:
- Catastrophic weather events — hurricanes, floods, droughts, high temperatures — are more frequent and more extreme. The cost can be measured in both the initial damage caused and the longer-term impact on the economy.
- Vulnerable communities are increasing climate-related investments, hardening infrastructure and taking other protective measures.
- Investment in carbon capture and storage technologies is increasingly rapidly.
- Governments are making investments and crafting regulations to reduce emissions of carbon dioxide and other greenhouse gases.
On top of all of this is the cost of uncertainty. As the Fourth National Climate Assessment, released in 2018 by the U.S. Global Change Research Program, says, “The assumption that current and future climate conditions will resemble the recent past is no longer valid.”