Tata Power’s Near-Term Targets Validated by Science-Based Targets Initiative

Bengaluru, 11th March, 2024: Tata Power, one of India’s largest integrated power companies, 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.”

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.

Mr. Himal Tewari, CHRO and Chief Sustainability & CSR at Tata Power, expressed, “This validation of our near-term targets by the Science Based Targets Initiative marks an important milestone in our commitment to combat climate change and promote green power adoption. At Tata Power, we believe that aligning our emission reduction goals with science-based criteria is not only a responsibility but also a testament to our dedication towards a sustainable and resilient future for all.

SBTi has meticulously validated Tata Power’s targets against the Near-Term Target Criteria and Recommendations. By adhering to science-based criteria, Tata Power 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.

Tata Power 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.