Empowering Sustainable Future
The role of enterprises is changing dramatically. Today, people from all walks of life – consumers, investors, local communities and non-governmental organisations expect businesses to do more than just make profit. At Virescent, our experience is that doing good business and solving environmental and social challenges go hand in hand.
Over the years, we have created a methodology for identifying sustainability themes and underlying difficulties, as well as incorporating sustainability into our business through focused sustainability programmes
Leaders Reflect
“We recognise the importance of setting long-term goals, with the three pillars of Environmental (E), Social (S), and Governance (G) to keep ourselves accountable for our business actions and their impacts. As the saying goes, ‘what doesn't get measured doesn't get managed’, thus we have a robust monitoring system for key sustainability indicators.”
Sanjay Grewal
CEO & Executive Director
“As we mark our financial performance and profits responsibly towards our stakeholders; we also measure our sustainability performance, including greenhouse gas reductions, reducing water consumption and enhancing the lives of communities in which we operate. These efforts demonstrate the integration of profit with purpose, to produce long-term value for all of our stakeholders, including investors, employees, and society.”
Atul Raaizada
Chief Operating Officer
ESG Targets
Elevating Environmental Capital
10x CO2 emissions avoided
by 2030, from 2022 level
Employee Centricity
'Zero Harm' Organization
by 2025
Community Welfare
1 Million CSR Beneficiaries
by 2030
Supporting UN SDGs
Adopting the ESG Route
In order to ensure sustainable growth alongside our stakeholders, we have adopted an ESG-driven management style, giving the environment, society and corporate governance the highest priority. We believe environmental, social, and governance factors are essential for the long-term and sustainable development of VRET. We actively participate as a responsible member of the communities in which we operate, protecting and preserving the environment. At VRET, we place ESG at the heart of our business. In 2022, we decided to take a big step forward in our efforts to improve reporting processes and increase transparency. Our ESG report is developed in line with the GRI standards and standard global best practices that are easily accessible with updated qualitative and quantitative data and performance reporting. Our sustainability strategy has been developed after thorough review of reporting standards and industry requirements.
Governance
Environment
Social
Enhancing Capabilities for a Green Future
We are India’s first infrastructure Investment Trust (InvIT) in accordance with the Securities and Exchange Board of India (Infrastructure Investment Trusts) Regulations, 2014. Our assets are spread across 8 states, and we are constantly increasing our capacity to serve a larger consumer base, promoting sustainable growth in India.
484,236 MWh
Renewable energy generated
500 MW
Renewable energy installed capacity
18 operational
Solar power projects
8 states
Across the country
AAA Rating
CRISIL
1st in INDIA
Renewable energy InvIT
We organically generate value, while managing facilities, and successfully integrating new assets within our existing operating infrastructure. We utilize our technical expertise, to simultaneously yield economic, environmental & Social benefits. We strive to create an inclusive society, that empower our stakeholder’s positive growth potential, and unleash the potential of sustainable energy to replenish the planet in a safe, sustainable, and responsible way. We strive to create an inclusive society that empowers our stakeholders’ positive growth potential and unleash the capability of sustainable.
Our Progress
With every ray of sunshine leaping into a new era of sustainable progress across India.
ESG Policies and Procedures
Virescent has well developed Standard Operating Procedures (SOPs) for applicable material issues in line with GRESB Asset Assessment requirements including EHS Policy and implementation, Risks and impact assessment, ESG integration for investment lifecycle, Emergency Response procedure, Legal compliance and tracking, Accident incident reporting and investigation, Waste H and Non-Hazardous) Handling, storage and disposal management, Project End of life Decommissioning plan, natural resources consumptions, Water Management and change management. ESG Due Diligence is also a part of the Mergers and Acquisition of assets. We have developed ESG Management system based on the IFC Performance Standard requirements in June 2021.
Employee Training
At Virescent, we prioritise training and development of employees to build an organisational culture of continuous learning and excellence. In 2021, training received by our employees included Environmental and Social (E&S), Prevention of Sexual Harassment (POSH), Data Management System (DMS), Anti-Bribery and Anti-Corruption (ABAC), Legatrix training and SAP training for users.
POSH
Training
DMS
Training
ABAC
Training
E&S
Training
Legatrix
Training
SAP Training
to Users
ESG Strategy Framework for the VRET –
Empowering a Sustainable Future
As a sustainable business, we are accountable for running our operations responsibly with due consideration to our environmental footprint, nurturing inclusive development, and leading with ethics at all times.
