Greenko aims to become a “Net Zero Carbon Company “ by 2040

 Greenko aims to become a “Net Zero Carbon Company “ by 2040

Greenko has become signatory to “The Climate Pledge” today and is joining more than 200 companies who have pledged to achieve net-zero carbon by 2040. Today’s announcement responds to the findings of the latest report from the United Nations’ Intergovernmental Panel on Climate Change (IPCC), which underscores the need for increased urgency in addressing the climate crisis. Unless there are immediate, rapid, and large-scale reductions in greenhouse gas emissions, limiting warming to close to 1.5 degrees Celsius or even 2 degrees Celsius will be out of reach.

Businesses have long contributed to the effects of climate change, but deep cuts in emissions of greenhouse gases could stabilize increasing temperatures. This is why urgent, ambitious action by companies around the world is needed. The 200 plus Climate Pledge signatories, which have committed to net-zero carbon by 2040 or sooner, are uniquely positioned to rise to the challenge of addressing climate change and helping to create the low-carbon economy of the future.

The current Climate Pledge signatories are expected to collectively mitigate 1.98 billion metric tons (BMT) of carbon emissions from a 2020 baseline, representing 5.4% of global annual emissions —demonstrating the collective impact The Climate Pledge is having in addressing climate change and prompting more action to tackle the climate crisis.

Signatories to The Climate Pledge agree to:

● Measure and report greenhouse gas emissions on a regular basis.

● Implement decarbonization strategies in line with the Paris Agreement through real business changes and innovations, including efficiency improvements, renewable energy, materials reductions, and other carbon emission elimination strategies.

Neutralize any remaining emissions with additional, quantifiable, real, permanent, and socially beneficial offsets to achieve net-zero annual carbon emissions by 2040—a decade ahead of the Paris Agreement’s goal of 2050.

“As a leading renewable energy company with an operational portfolio of 7.5 GW and a pipeline of 15 GW of wind, solar, hydro, and energy storage assets spread across 15 states in India, Greenko is proud to be joining The Climate Pledge and making the commitment to achieve net zero carbon emissions by 2040 — 10 years ahead of the Paris Agreement. Greenko will continue to build upon its hallmark of environmental stewardship, through greenhouse gas mitigation, climate risk management, conservation and restoration of habitats, as well as circular economic approaches,” said Anil Kumar Chalamalasetty, Founder, CEO and MD, Greenko Group.