In a significant achievement, Adani Ports and Special Economic Zone Ltd (APSEZ), India’s largest port operator, has been recognized for its exemplary climate actions and environmental performance by four prominent global rating agencies.
The Climate Disclosure Project (CDP) bestowed an “A-” leadership band upon APSEZ, acknowledging the company’s steadfast efforts in implementing leading practices to address climate change risks and opportunities. Notably, this recognition comes amidst assessments conducted by the CDP, which encompassed around 23,000 companies globally, collectively representing over half of the global listed market cap.
APSEZ received the highest rating of “A” for its commendable emission reduction initiatives, climate governance, and robust risk management processes. This accolade underscores the company’s commitment to sustainability and aligning its operations with global climate goals.
Moreover, APSEZ clinched the top spot in the environmental dimension of the S&P Global Corporate Sustainability Assessment (CSA) 2023 within the Global Transportation and Transportation Infrastructure sector. This sector encompasses a wide spectrum, including marine ports, shipping, air, road and rail transport, logistics, mass transit systems, and other transportation businesses. With an impressive score improvement for the third consecutive year, APSEZ solidified its position at the forefront of environmental stewardship, further exemplifying its dedication to sustainability.
The Sustainalytics Low Carbon Transition Rating reaffirmed APSEZ’s leadership in the ports sector during their January 2024 update. This rating evaluates the alignment of a company’s projected emissions with the global net-zero target. Notably, while Sustainalytics found APSEZ’s current projected emissions in line with a 1.7°C rise in global temperature, the company has boldly announced its commitment to achieving net-zero emissions by 2040, a decade ahead of the global requirement to limit global warming to 1.5°C.
Furthermore, APSEZ has received an ‘advanced’ rating in the latest Energy Transition Rating from Moody’s, reflecting the company’s proactive measures towards sustainable energy practices. Moody’s comprehensive evaluation of APSEZ on environmental, social, and governance (ESG) parameters in 2022 also positioned the company as the top-ranked entity in the Transport and Logistics sector and ninth across all sectors/industries in the Global Emerging Markets.
In addition to its stellar environmental performance, APSEZ has garnered praise for its robust risk management framework, as evidenced by the low to negligible risk rating assigned by Sustainalytics in areas such as biodiversity & land use, emission and pollution control, and waste management.
This string of accolades not only underscores APSEZ’s commitment to sustainability but also highlights its leadership role in driving positive environmental outcomes within the global transportation and logistics sector. As businesses worldwide increasingly prioritize sustainability, APSEZ sets a compelling example for industry peers to emulate, reaffirming its position as a frontrunner in the realm of climate action and environmental stewardship.