Adani Ports in FY23 spent Rs. 764.4 crore on ESG commitments

MUMBAI: Adani

Po r t s a n d S p e c i a l Economic Zone Ltd (APSEZ) in FY23 spent Rs 764 4 crore on Environment, Social and Governance (ESG) commitments. The spending w a s o n p r o j e c t s r e l a t e d t o electrification of equipment, rail infra, energy efficiency, emission reduction, environment protection, water management, waste treatment, and adaptation to climate change, according to the company’s FY23 annual report.

The company is intending to become carbon-neutral by 2025. The ESG commitments include moderating the use of water and fossil fuels; increased use of renewable energy; focus on terrestrial plantation and mangrove afforestation.

“At APSEZ, we have invested holistically in ESG. Mundra was the first Indian port to assess its carbon footprint and proposed a structured reduction plan. It was the first port company in India to commit to carbon neutrality,” the report said.

APSEZ electrified all quay cranes (QCs) and invested in 400 electric internal terminal vehicles (ITVs) to reduce fossil fuel consumption and move to electric equipment.

The company has formulated its n e t z e r o p l a n , w h i c h w i l l b e announced in the second half of the year This is in line with the commitment made to the Science Based Target Initiative (SBTi) Adaptation measures were identified b a s e d o n d e t a i l e d r i s k a n d vulnerability assessment done for 12 port sites, the report says.

The company said that its ESG i n i t i a t i v e s a r e a l i g n e d w i t h Adani Group’s vision to plant 100 million trees by 2030. The emission intensity and water intensity have improved from last year and achieved the FY23 targets.

It achieved a switch from fossil fuel to electricity with the purchase of 338 electric ITVs for Mundra, Hazira, Kattupalli and Ennore operations Other equipments like rubber tyred gantry and quay cranes have been fully electrified.

The company has around 34 MW of installed renewable capacity of captive/PPA solar and wind power An additional 250 MW of renewable capacity will be commissioned in the next couple of years.

The report says that APSEZ has enhanced its ambition of additional mangrove plantation to 2,000 hectares of which 1,000 hectares have been completed by FY23 end Bio -shield of 20 hectares was developed in the Bharuch district in which plantation of mangroves and pilu (salvadora persica) have been done to prevent soil erosion, as well as conserve marine life and provide fodder for the cattle of nearby villages

Different levels of engagement were conducted with customers, e m p l o y e e s , s u p p l i e r s , a n d c o m m u n i t i e s o n E S G - r e l a t e d matters, which ensured adoption of best practices and global standards.

While announcing the June quarter financial results, the company said as of Q1 FY24, emission intensity reduction of 47 per cent and w a t e r i n t e n s i t y r e d u c t i o n o f 47 per cent from the base year (Fy2016) The renewable electricity share of electricity in Q1 FY24 was about 14 per cent.

For the year ended March 31, 2023, the company reported revenue of Rs. 20,852 crore, as against Rs. 17,119 c r o r e i n t h e p r e v i o u s y e a r It handled 339 million tonnes of cargo as against 312 million tonnes in the previous year