“Tata Power has committed to set emission reduction targets in alignment with the Science Based Targets initiative (SBTi),” a company press release said.
The company’s commitment to the SBTi has been accepted and published under the companies taking action category on the website, it added.
SBTi is an initiative which drives ambitious climate action in the private sector by enabling companies to set science-based emissions reduction targets. It is a partnership between CDP (Carbon Disclosure Project), the United Nations Global Compact, World Resources Institute (WRI), the World Wide Fund for Nature (WWF) and We Mean Business Coalition.
Tata Power CEO and MD Praveer Sinha said “Mitigating the impact of global warming requires swift and strong action. Tata Power has committed to SBTi and is working on an ambitious plan to drive the transition to decarbonized energy models, aiding the global climate action agend.”
“To achieve the emission reduction targets, we are moving rapidly to a green energy portfolio and continuously exploring and adopting technology based solutions. We are confident of being #FutureReady and will continue lighting up lives!” added Sinha.
The latest climate science sends a clear warning to curb temperature rise to avoid the catastrophic impacts of climate change. The power sector will play a key role in decarbonizing the global economy and meeting the goals of the Paris Agreement.
To lead reformation of the process for sustainable power, Tata Power has pledged to set scientific targets as proposed by Science Based Target initiatives. It is the first Indian power company to commit to carbon neutrality before 2050 and is accelerating the transition to a sustainable future. Tata Power has already announced the planned phase out of coal based capacity and is rapidly expanding its clean and green portfolio with an intent of achieving 80% by FY30. Through its business offerings, Tata Power is spearheading development of integrated solutions, focusing on mobility and lifestyle and empowering customers through emerging smart and green technologies.