UltraTech steps up climate action with RE100 initiative

In line with global efforts to combat climate change, UltraTech Cement Ltd – India's largest manufacturer of grey cement, white cement and ready-mix concrete – announced its commitment to Climate Group's RE100 initiative at Climate Week NYC 2021. The company targets to meet 100% of its electricity requirement through renewables sources by 2050 as part of the commitment.

The commitment to renewables is the latest in the array of steps adopted by the company as part of its efforts to build a low-carbon future. Imposing internal carbon price, adopting the Task Force on Climate-Related Financial Disclosures (TCFD) reporting framework, lowering clinker usage, increasing the usage of alternative fuel and leveraging best technologies – UltraTech's efforts to build a green tomorrow cover a wide spectrum.

“We have made tremendous progress in scaling up the use of green energy in our operations. The commitment to move to 100% renewable energy to meet our electrical energy requirements by 2050 is both a reflection of our confidence on the progress we have made, as well as our commitment to overcome the challenges ahead,” 
 

— Mr. Kailash Jhanwar, Managing Director, UltraTech Cement

In the last two years, UltraTech has scaled up its contracted renewable energy capacity by 2.5 times. The company has already set a target to scale up its green energy mix to 34% by 2024, from the current levels of 13%. The RE100 commitment will further bolster the efforts.

RE100, led by Climate Group in partnership with CDP, brings together the world's most influential businesses committed to 100% renewable electricity. Its purpose is to accelerate change towards zero carbon grids, at scale.

“With us now joining the RE100 group, UltraTech will become part of a high-profile global campaign that advocates for a strong business case in transitioning to renewable energy sources and building a decarbonised economy,” Mr. Jhanwar said.

Sustainable growth is an integral part of UltraTech's business ethos. Besides the internal carbon price and adoption of TCFD framework, the company has stepped up the adoption of key levers like low clinker products, use of alternative raw materials and fuels, and waste heat recovery system.

Building a product portfolio with lower GHG impact also figures high on the list. UltraTech has more than 70 sustainable products with GreenPro certification.

UltraTech is the first company in India and the second company in Asia to link its financial commitments with sustainability targets through the issuance of dollar-based sustainability linked bonds. The cement major is a signatory to the GCCA Climate Ambition, a sectoral aspiration to deliver carbon neutral concrete by 2050.