Ashok Leyland joins Climate Group’s RE100 initiative

The Climate Group

New Delhi, 5 January 2024: Ashok Leyland has committed to sourcing 100% of its electricity from renewables by 2030 as it joins the RE100 initiative. The announcement by India’s foremost automaker in the commercial vehicle segment is significant against the backdrop of India’s target of achieving 450 GW of renewable energy by 2030, and the global ambition of tripling renewable energy by 2030 which is a key outcome of the G20 New Delhi Leaders’ Declaration and at COP28.

Ashok Leyland’s collective electricity demand in the country was 324 GWh, 55% of which came from renewable electricity in 2022.

Mr. Dheeraj Hinduja, Executive Chairman, Ashok Leyland said on the joining: “We take great pride in embracing the values of the RE100, marking a significant stride towards adopting renewable energy as a critical part of Ashok Leyland and its subsidiaries’ energy footprint. We wholeheartedly support COP28 Climate Forum deliberations on renewable energy adoption by committing adoption of 100% renewable electricity by 2030. We are supported in our RE100 strategy by our group company, Hinduja Renewables, which has an operating footprint of 306MW with Solar Power Plants across India and are ramping up fast to achieve 1.5GW capacity by December 2024.

“This commitment gives impetus to our ESG Roadmap rooted in our purpose of Transforming Lives and Businesses through leadership in Mobility.”

Dr. Divya Sharma, India Executive Director at the Climate Group, said: “Renewable electricity is key to faster decarbonisation and countries have limited choice but to make it widely available. We welcome Ashok Leyland to RE100 and for them to lead the way in driving demand for corporate renewable energy. The company’s commitment is a shot in the arm for businesses demanding renewable electricity not just in India but globally as well.”

Mr. Shenu Agarwal, MD & CEO, Ashok Leyland, said: “By joining RE100, we demonstrate our commitment to our employees, society and the nation at large. Ashok Leyland is resolutely committed to attaining net zero emissions, placing a strong emphasis on sustainability. Joining RE100 highlights our firm’s dedication to a more eco-friendly future, and also positions us as pioneers in championing sustainable business practices. We have embarked on a transformative journey to leverage renewable energy sources, champion environmental responsibility, and lead the way towards a more sustainable future.”

RE100 members consume more electricity each year than the total electricity consumption of France. If the RE100, with over 400 companies committed to consuming 100% renewable electricity by 2050, were a country, it would be the world’s 10th largest on electricity consumption.

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