ITC Aims to Become Carbon Neutral by 2030

ITC, an Indian multi-business conglomerate, aims to meet 100% of its entire energy needs from renewable sources by 2030.

It aims to achieve a 50% reduction in specific emissions and a 30% reduction in specific energy consumption by 2030 over a 2014-15 baseline.

In a statement, ITC said it would research and development initiatives, implement large-scale digitalization, and enter into cross-sectoral collaborations and partnerships to decarbonize its energy consumption.

ITC said it currently meets over 40% of its electricity needs through renewable energy sources like solar, wind, and biomass. It had already made investments in renewable energy assets,  which will increase its renewable energy share by 6%.

To expand its renewable energy footprint, the company is implementing several offsite solar projects with a cumulative capacity of 50 MW across states like Tamil Nadu, Karnataka, Haryana, Uttar Pradesh, and Bihar.

ITC’s manufacturing and logistics facilities and warehouses are equipped with rooftop solar systems to generate clean energy. It is also developing onsite solar projects in Tamil Nadu and West Bengal with a capacity of 3 MW and 2.7 MW, respectively.

Currently, ITC utilizes renewable energy to meet the power needs of its 20 factories, nine hotels, and six office building across several states. It also owns a 46 MW wind power project located in Andhra Pradesh. The wind project supplies energy to 15 ITC establishments across eight states through an inter-state open access mechanism.

Sanjiv Rangrass, Group Head- R&D, Sustainability and Projects, ITC, said, “To pursue continuous improvement in energy and emission-related performance, we have taken up specific energy and greenhouse gas emission reduction targets.”

The company has 138 MW of wind power projects. It has 14 MW of solar projects in operation, with another 53 MW of solar capacity in the pipeline.

In 2014, it also established a Center of Excellence for Renewable Energy for collaboration between different teams with valuable and varied experiences in green energy projects.

Many Indian companies are using renewable energy increasingly in their facilities to cut down carbon emissions. In November 2020, 24 top private companies signed a declaration pledging to move toward carbon neutrality in line with India’s commitment under the Paris Agreement.

Infosys, a leading Indian information technology company, announced in November 2020 that it had become carbon neutral 30 years ahead of the Paris Agreement’s target year of 2050. In June that year, the company signed up for ‘The Climate Pledge,’ committing to achieve net-zero carbon emissions across its businesses by 2040. Infosys is also the first Indian signatory to the RE100 global campaign that urges corporates to go green.

Image credit: ITC