ACC Limited Recognized with ‘A’ Score for Climate Change

MUMBAI:
ACC Ltd., member of the Holcim Group has been recognized for leadership in corporate sustainability by global environmental non-profit CDP, securing a place on its prestigious ‘A List’ for tackling climate change.

ACC was recognized for its actions to cut emissions, mitigate climate risks and develop the low-carbon economy, based on the data reported by the company through CDP’s 2021 climate change questionnaire.

It is one of a small number of high-performing companies out of nearly 12,000 companies that were scored. Through significant demonstrable action on climate, ACC is leading on corporate environmental ambition, action and transparency worldwide.

CDP’s annual environmental disclosure and scoring process is widely recognized as the gold standard of corporate environmental transparency. In 2021, over 590 investors with over US$110 trillion in assets and 200 major purchasers with US$5.5 trillion in procurement spend requested companies to disclose data on environmental impacts, risks and opportunities through CDP’s platform. A record-breaking 13,000 companies responded.

A detailed and independent methodology is used by CDP to assess these companies, allocating a score of A to D- based on the comprehensiveness of disclosure, awareness and management of environmental risks and demonstration of best practices associated with environmental leadership, such as setting ambitious and meaningful targets. Those that don’t disclose or provided insufficient information are marked with an F.

Sridhar Balakrishnan, MD & CEO, ACC Limited., “At ACC, we continuously strive to become a responsible and sustainable company by implementing calibrated strategies to achieve sustainability goals and targets. Being recognized with an ‘A’ score for the first time becomes a milestone in our journey to achieve our Net-zero goal of 2030, further strengthening our vision and mobilizing our goals to tackle climate change. It reaffirms confidence to our key stakeholders, that we are effectively managing our environmental impact and are helping the country move towards a lower-carbon future.”

Sustainability is one of the defining factors for business excellence at ACC Ltd. ACC partnered with CDP India’s SBTi Incubator Program to develop its science-based targets. In 2021, ACC became the first Indian Cement Company to sign the ‘Business Ambition for 1.5°C’ commitment with 2030 intermediate targets approved by Science based Targets initiative (SBTi). With these targets, ACC commits to reduce its CO2 intensity in cement operations from 511 kg in 2018 to 409 kg CO2 per ton of cementitious material by 2030. With 493 kg CO2 per ton of cementitious material in 2020, ACC performance is among the lowest specific CO2 emissions in the country.

The company has taken several measures to reduce CO2 emissions, such as improving the Thermal Substitution Rate, reducing thermal & electrical energy intensity, implementing waste heat recovery system and increasing the renewable energy portfolio. ACC will continue its proactive approach to developing low carbon products and sustainable solutions to combat the climate change.

Paul Simpson, CEO of CDP, said, “Many congratulations to all the companies on this year’s A List. Taking the lead on environmental transparency and action is one of the most important steps businesses can make, even more so in the year of COP26 and the IPCC’s Sixth Assessment Report. The scale of the risk to businesses from climate change, water insecurity and deforestation can no longer be ignored, and we know the opportunities of action far outweigh the risks of inaction. Leadership from the private sector is essential for securing global ambitions for a net-zero, nature positive and equitable world. Our A List celebrates those companies who are preparing themselves to excel in the economy of the future by taking action today.”