New Delhi: REC Limited, a Maharatna Central Public Sector Enterprise under the Ministry of Power, has been awarded the prestigious ‘Sustainability Champion – Editor’s Choice Award’ at the Outlook Planet Sustainability Summit & Awards 2024. The award ceremony, organized by the Outlook Group in collaboration with IIT Goa, recognized REC’s outstanding commitment to sustainability initiatives and its leadership in driving progress towards a greener future.
The ‘Sustainability Champion – Editor’s Choice Award’ underscores REC’s dedication to environmental stewardship and its pivotal role in India’s energy transition. The award highlights REC’s ongoing efforts to align its operations with global clean energy trends and its significant investments in sustainable projects.
REC Limited has been at the forefront of catalyzing India’s shift towards renewable energy sources. The company’s current loan portfolio includes approximately ₹38,971 crores allocated to renewable energy projects, reflecting its strategic focus on sustainability. By 2030, REC aims to enhance the renewable energy mix to about 30% of its projected loan book of approximately ₹10 lakh crores.
“We are deeply honored to receive the ‘Sustainability Champion – Editor’s Choice Award’,” said a spokesperson from REC Limited. “This recognition reaffirms our commitment to sustainable practices and our role as a leading financier in India’s energy transition. We remain steadfast in our mission to support clean energy initiatives and contribute to a greener, more sustainable future.”
The Outlook Planet Sustainability Summit & Awards is a renowned platform that brings together industry leaders, policymakers, and sustainability advocates to celebrate and promote excellence in sustainable practices. This year’s summit featured a series of insightful discussions, innovative ideas, and recognized the remarkable achievements of organizations dedicated to sustainability.
REC’s recognition at the summit highlights its significant contributions to the renewable energy sector and its ongoing efforts to promote sustainable development. As India continues to advance towards its clean energy goals, REC remains committed to playing a critical role in supporting and financing projects that drive the nation’s energy transition.
The summit served as a crucial forum for exchanging ideas and strategies on sustainable development, further solidifying the importance of collaborative efforts in achieving global sustainability targets.