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Renewable energy solutions provider ReNew on Monday said that its Chairman and CEO Sumant Sinha has been named the Co-Chair of Alliance of CEO Climate Leaders, the largest CEO-led climate alliance in the world, and a flagship initiative of the World Economic Forum (WEF).
Sinha joins a group of influential leaders from top global companies such as, Novonesis CEO Ester Baiget, Ingka Group Ikea CEO Jesper Brodin, Chairman of Supervisory Board of Royal Philips Feike Sijbesma and Rich Lesser, the Global Chair of BCG and Alliance Chief Advisor, the company said.
“Together, they will work closely with a cohort of 130-member CEOs across 12 Industries on driving strategic priorities of the Alliance. Collectively, this group represents $4 trillion in revenues and 5.2 GT of carbon emissions, equivalent to 10 per cent of global emissions across all scopes,” ReNew said.
As a member of the Alliance since 2019, ReNew is recognised for its commitment to net-zero targets and innovative decarbonisation solutions. It is one of the few organisations in its sector to have declared a 1.5°C-aligned science-based target validated by the Science Based Targets initiative (SBTi), with a target to be net zero by 2040.
“The Alliance of CEO Climate Leaders has been instrumental in driving systemic action and fostering public-private collaboration in the global energy transition. I look forward to engaging with a group of talented co-chairs and global CEOs committed to delivering tangible climate solutions and innovations across geographies and businesses,” Sinha said.
ReNew is dedicated to accelerating the net-zero transition and has mitigated over 21 million tonnes of carbon emissions over the past two years. With an overall portfolio of 21.4 GW (contracted and in pipeline), ReNew’s leadership across the value chain positions the company uniquely as a global energy transition leader.
The company has been pioneering a spectrum of decarbonization solutions, including innovative Power Purchase Agreements (PPAs), solar module manufacturing, carbon markets, power trading, and energy storage. These initiatives support enterprises in transitioning towards net-zero emission goals.
Since the World Economic Forum’s Annual Meeting in 2022, Sinha has also served as Co-Chair of the India chapter of the Alliance of CEO Climate Leaders.
- Also read: India’s Power emissions in 2023 would have been higher had RE penetration not increased: Ember
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