Adani Ports secures top position for its climate actions and environmental performance

Ahmedabad (Gujarat) [India], February 11 (ANI): Adani Ports and Special Economic Zone Ltd (APSEZ) has secured the top position for its climate actions and environmental performance in assessments done by four global rating agencies.
According to a press release by Adani, the CDP assigned leadership band "A-" to APSEZ, recognising the company's efforts in implementing the current best practices to tackle climate change risks and opportunities. Around 23,000 companies, worth over half of the global listed market cap, participated in the assessment performed by the CDP on behalf of the investors representing an AUM of over USD136 trillion.
APSEZ received the highest rating of "A" for its emission reduction initiatives, climate governance and risk management processes. Notably, a handful of companies make it to the leadership band every year.
APSEZ has also secured the top position in the environmental dimension of the S&P Global Corporate Sustainability Assessment (CSA) 2023 among the 324 leading players in the Global Transportation and Transportation Infrastructure sector, which includes marine ports, shipping, air, road and rail transport, logistics, mass transit system and other transportation businesses, the release stated.
The environmental pillar provides 56 per cent weight for climate indicators and strategy, with APSEZ improving its score for the third consecutive year to achieve the top position. On the overall ESG assessment, APSEZ with a 96 percentile score stands among the top 15 leading companies in the sector globally and is apparently the only port operator to feature on the list.
The Sustainalytics Low Carbon Transition Rating has also assigned APSEZ the top rank in the ports sector during their January 2024 update.
The indicator measures the alignment of the projected emissions of the company with the global net zero target. While Sustainalytics found the company's current projected emissions in line for a 1.7oC rise in global temperature, APSEZ has already announced its commitment to reach net zero by 2040, a decade earlier than the requirement for the global GHG emissions to hit net zero to keep to 1.5oC.
On the overall environmental dimension covering biodiversity and land use, emission and pollution control and waste management, Sustainalytics has assigned a low to negligible risk rating to APSEZ on account of a strong risk management framework that the company has implemented, it stated.
APSEZ has also received an 'Advanced' rating in the last Energy Transition Rating from Moody's, reflecting its leadership position.
Furthermore, Moody's evaluated APSEZ on an environmental, social and governance basis in 2022, wherein the Company secured first rank in the Transport and Logistics sector and ninth across all sectors/ industries in the Global Emerging Markets.
In India, APSEZ was ranked 1st on ESG performance across all the sectors. There were 4,885 companies globally that were evaluated by the rating agencies on a range of ESG indicators, policies, processes, and systems. The next assessment by Moody's is likely this year.
Adani Ports and Special Economic Zone Ltd (APSEZ), a part of the globally diversified Adani Group, has evolved from a port company to an Integrated Transport Utility providing an end-to-end solution from its port gate to customer gate. (ANI)