Ahmedabad, 14 June, 2024: APSEZ has been recognized by CDP for its exceptional efforts in tackling climate change and implementing best practices across its supply chain through a robust engagement program. The award was presented at the ‘Climate Action in India: Role of Businesses & Supply Chain’ ceremony, co-hosted by the Federation of Indian Chambers of Commerce & Industry (FICCI) in New Delhi
CDP has assigned APSEZ a leadership band “A- “in both climate change and supplier engagement. The company received the highest rating of “A” for its initiatives in emission reduction, climate governance, supplier engagement, scope 3 emissions and risk management processes. Notably, only a handful of companies make it to the leadership band in both climate change and supply chain engagement every year. In its latest assessment, Sustainalytics also upgraded APSEZ’s ESG performance.
With a score of 11.3, APSEZ is now a notch away from being categorized as a company with negligible ESG risks (score band of 0-10). Of the 16215 companies rated by Sustainalytics globally, APSEZ has 95 percentile score. Furthermore, APSEZ managed to maintain its position as the top-ranked company in the low carbon transition rating within the port sector, demonstrating strong improvement in the last few years.
Commenting on the achievements, Ashwini Gupta, Chief Executive Officer, APSEZ, said: “At APSEZ, we remain resolute in our commitment to sustainability, with concerted efforts to reduce carbon emissions. We are pleased with the continuous improvement in our ESG performance and the ‘climate leadership position’ assigned by multiple ESG rating agencies. We are now working on net zero commitment by 2040 through renewable capacity deployment and greening the transportation.
Globally, APSEZ stands in the 96th percentile in the S&P Global Corporate Sustainability Assessment (CSA) 2023, ranking among top 15 companies and supposedly the only port operator in this list from among 334 players in the Global Transportation Infrastructure sector. APSEZ secured the highest score in the environmental dimension of the assessment, which has 56% weightage for climate indicators and strategy.
Additionally, APSEZ had received an ‘Advanced’ rating in the last Energy Transition Rating from Moody’s, reflecting its leadership position. Moody’s also evaluated APSEZ on an environmental, social and governance basis in 2022, wherein the company secured first rank in the Transport & Logistics sector and ninth across all sectors/ industries in the Global Emerging Markets. In India, APSEZ was ranked first on ESG performance across all the sectors.
