Communication on Progress

Communication on Progress

Participant
Published
  • 31-Oct-2022
Time period
  • April 2021  –  March 2022
Format
  • Stand alone document – Basic COP Template
Differentiation Level
  • This COP qualifies for the Global Compact Active level
Self-assessment
  • Includes a CEO statement of continued support for the UN Global Compact and its ten principles
  • Description of actions or relevant policies related to Human Rights
  • Description of actions or relevant policies related to Labour
  • Description of actions or relevant policies related to Environment
  • Description of actions or relevant policies related to Anti-Corruption
  • Includes a measurement of outcomes
 
  • Statement of continued support by the Chief Executive Officer

  • Statement of the company's chief executive (CEO or equivalent) expressing continued support for the Global Compact and renewing the company's ongoing commitment to the initiative and its principles.

  • Message from the CEO is given on pages 2 and 3 of the Sustainability Report

    (https://investor.renewpower.in/static-files/3ee261b8-b606-41f4-8c2f-b824d5ceacfe)

Human Rights
  • Assessment, policy and goals

  • Description of the relevance of human rights for the company (i.e. human rights risk-assessment). Description of policies, public commitments and company goals on Human Rights.

  • ReNew is committed to conducting its business in a manner that respects the rights and dignity of ReNew’s employees, and those linked to its activities, including its supply chain. Details are given on page 21 and 90 of the Sustainability Report https://investor.renewpower.in/static-files/3ee261b8-b606-41f4-8c2f-b824d5ceacfe

  • Implementation

  • Description of concrete actions to implement Human Rights policies, address Human Rights risks and respond to Human Rights violations.

  • Following policies have been institutionalised by ReNew to demonstrate its commitment to human rights :

    Human Rights: https://renewpower.in/wp-content/uploads/2022/08/Human-rights-1.pdf

    Supplier Code of Conduct: https://renewpower.in/wp-content/uploads/2022/07/Sustainability-COC-for-suppliers.pdf

  • Measurement of outcomes

  • Description of how the company monitors and evaluates performance.

  • The Company has developed a formal grievance and feedback management mechanism. Employees and suppliers are encouraged to raise their concerns if they see or suspect any possible violation or any of ReNew’s procedures or domestic laws as applicable or any other conduct that is unprofessional or inappropriate, report it at HumanResources@renewpower.in or Sustainability@ renewpower.in. ReNew is also working with its suppliers to ensure that there is no incidence of human rights violation in its supply chain. Details are given on page 90 of the sustainability report (ttps://investor.renewpower.in/static-files/3ee261b8-b606-41f4-8c2f-b824d5ceacfe)

    No such cases reported

Labour
  • Assessment, policy and goals

  • Description of the relevance of labour rights for the company (i.e. labour rights-related risks and opportunities). Description of written policies, public commitments and company goals on labour rights.

  • ReNew prohibits and is against the use of Child labour, forced or bonded or involuntary labour and any form of human trafficking across the organization

  • Implementation

  • Description of concrete actions taken by the company to implement labour policies, address labour risks and respond to labour violations.

  • ReNew observes strict compliance to labour laws of the country at all its project sites and it promotes fair treatment, non-discrimination, and equal opportunity for all workers, whether working directly/indirectly through contractors.

    ReNew’s vendors and suppliers are required to provide contractual warranties and representations to ReNew’s standard terms and conditions which prohibit child labour, forced labour, and compliance to labour laws.

  • Measurement of outcomes

  • Description of how the company monitors and evaluates performance.

  • ReNew ensure’ s strict compliance of this requirement in the process of engaging any contractor and labour on all sites. Periodic internal and external audits, second / third party audits, lender’s audits are conducted to validate compliance.

    No such cases reported

Environment
  • Assessment, policy and goals

  • Description of the relevance of environmental protection for the company (i.e. environmental risks and opportunities). Description of policies, public commitments and company goals on environmental protection.

  • ReNew’s ESG Policy acts as an umbrella guiding force for all sustainability-centric interventions and outlines the Company’s commitment as an environmentally conscious company. ReNew’s environmental management is governed the fundamentals of resource conservation, mitigating the effects of its ecological footprint, and implementing policies that achieve zero environmental harm.

    ESG Policy: https://renewpower.in/wp-content/uploads/2021/09/Environment-Social-Governance-Policy.pdf

  • Implementation

  • Description of concrete actions to implement environmental policies, address environmental risks and respond to environmental incidents.

  • Every project commissioned at ReNew undergoes a rigorous Environmental and Social Impact Assessment (ESIA). Based on the findings of the ESIA studies, mitigation strategies are put in place to mitigate any potential negative effects of the proposed initiatives and/or projects. Further, an environmental management plan is drawn for each site, based on the impact assessment research, which is evaluated at regular intervals and relevant remedial actions are performed. Details of ReNew’s environmental management approach are given on page 62 of the sustainability report https://investor.renewpower.in/static-files/3ee261b8-b606-41f4-8c2f-b824d5ceacfe

  • Measurement of outcomes

  • Description of how the company monitors and evaluates environmental performance.

  • During FY 2020-21, ReNew committed to become net-zero by 2050 and in FY 2021-22, ReNew developed its emission reduction targets which are under validation by SBTi secretariat and are expected to be formally announced in the calendar year 2023. Details are given on page 66. For the second consecutive year, ReNew continued its practice of maintaining carbon neutrality of its operations and was validated as carbon neutral for the second consecutive year for scope 1 and 2 GHG emissions across its operations including sites and facilities. The Company is committed to reduce its dependency on groundwater by deploying robotic cleaning across all its solar sites.

Anti-Corruption
  • Assessment, policy and goals

  • Description of the relevance of anti-corruption for the company (i.e. anti-corruption risk-assessment). Description of policies, public commitments and company goals on anti-corruption.

  • ReNew is committed to conducting its business with all its stakeholders, especially the governments and their representatives, with the highest standards of business ethics. The business is conducted in compliance with all applicable laws and regulations, including the special requirements that apply to communications with governmental bodies that may have regulatory authority over its products and operations, such as government contracts and government transactions

  • Implementation

  • Description of concrete actions to implement anti-corruption policies, address anti-corruption risks and respond to incidents.

  • ReNew has established a robust code of conduct for its operations through which, it is committed to carry out its operations in a fair and transparent manner. The following policies have been institutionalised by ReNew

    Code of Conduct: https://investor.renewpower.in/static-files/42f1e394-2769-4934-8b75-
    fc854f94547b

    Whistle Blower Policy: https://investor.renewpower.in/static-files/6a28900a-a491-498a-8399-
    3dd3c92b255c

  • Measurement of outcomes

  • Description of how the company monitors and evaluates anti-corruption performance.

  • No such cases reported