In Short : UltraTech Cement pledges to transition to 100% renewable energy usage by 2050, reinforcing its commitment to sustainability and reducing carbon emissions.
In Detail : UltraTech Cement Limited, one of the largest manufacturer of grey cement, white cement and ready-mix concrete in India, has announced its commitment to Climate Group’s RE100 initiative at Climate Week NYC 2021. As part of this commitment, UltraTech targets to meet 100 percent of its electricity requirement through renewables sources by 2050. RE100, led by Climate Group in partnership with CDP, brings together the world’s most influential businesses committed to 100 per cent renewable electricity.
UltraTech has set a 100 per cent renewable electricity target for its entire global operations by 2050. In the last two years, UltraTech has scaled up its contracted renewable energy capacity by 2.5 times. The Company has already set a target to scale up its green energy mix to 34 percent of its total power requirement by 2024, from the current levels of 13 percent. “We have made tremendous progress in scaling up the use of green energy in our operations.
The commitment to move to 100 per cent renewable energy to meet our electrical energy requirements by 2050 is both a reflection of our confidence on the progress we have made, as well as our commitment to overcome the challenges ahead. With us now joining the RE100 group, UltraTech will become part of a high-profile global campaign that advocates for a strong business case in transitioning to renewable energy sources in building a decarbonized economy,” said Kailash Jhanwar, Managing Director, UltraTech Cement. UltraTech is also the first company in India and the second company in Asia to link its financial commitments with sustainability targets through the issuance of dollar-based sustainability linked bonds.
