15 July 2024
ReNew
Sinha’s leadership of the largest CEO-led climate alliance worldwide will bring significant experience to the community committed to raising bold climate ambition by doubling down on Scope 3 emissions decarbonization and policy engagement for a low-carbon regulatory environment
July
15th, Gurugram, India - Mr.
Sumant Sinha, Chairman and CEO of ReNew, has been named Co-Chair of the
Alliance of CEO Climate Leaders, the largest CEO-led climate alliance in the
world, and a flagship initiative of the World Economic Forum. Sinha joins a
group of influential leaders from top global companies - Ester Baiget, CEO of
Novonesis; Jesper Brodin, CEO of Ingka Group Ikea; Feike Sybesma, Chairman of
the Supervisory Board of Royal Philips; and Rich Lesser, Global Chair of BCG
and Alliance Chief Advisor. Together, they will work closely with a cohort of
130-member CEOs across 12 Industries on driving strategic priorities of the
Alliance. Collectively, this group represents $4 Trillion in revenues and 5.2
GT of carbon emissions, equivalent to 10 percent of global emissions across all
scopes.
As a member of the Alliance since 2019, ReNew is recognized for
its commitment to net-zero targets and innovative decarbonization solutions. It
is one of the few organisations in its sector to have declared a 1.5°C-aligned
science-based target validated by the Science Based Targets initiative (SBTi),
with a target to be net zero by 2040.
Mr.
Sinha said, “The Alliance of
CEO Climate Leaders has been instrumental in driving systemic action and
fostering public-private collaboration in the global energy transition. I look
forward to engaging with a group of talented co-chairs and global CEOs
committed to delivering tangible climate solutions and innovations across
geographies and businesses.”
ReNew is dedicated to accelerating the net-zero transition and has
mitigated over 21 million tons of carbon emissions over the past two years.
With an overall portfolio of 21.4 GW (contracted and in pipeline), ReNew’s
leadership across the value chain positions the company uniquely as a global
energy transition leader. The company has been pioneering a spectrum of
decarbonization solutions, including innovative Power Purchase Agreements
(PPAs), solar module manufacturing, carbon markets, power trading, and energy
storage. These initiatives support enterprises in transitioning towards
net-zero emission goals.
Since the World Economic Forum’s Annual Meeting in 2022, Sumant
Sinha has also served as Co-Chair of the India chapter of the Alliance of CEO
Climate Leaders.
Gim
Huay Neo, Managing Director of the World Economic Forum, commented, “The Alliance of CEO Climate Leaders is vital in
scaling and accelerating climate action. We are thrilled that Sumant has agreed
to lead the Alliance as Co-Chair. His extensive experience as Founder,
Chairman, and CEO of ReNew, along with his insights into energy transition in
emerging and developing economies, will be invaluable. My team and I look
forward to collaborating with him to amplify the Alliance’s positive impact
globally.”
Sinha is a global entrepreneur and a recognized thought leader. He
is a founding member of the Forum’s First Movers Coalition and currently serves
as Board Chair of the Rocky Mountain Institute (RMI).
ReNew is a leading
decarbonization solutions company listed on Nasdaq (Nasdaq: RNW, RNWWW).
ReNew's clean energy contracted portfolio of ~15.6 GW on a gross basis as of
May 31, 2024, is one of the largest globally. In addition to being a major
independent power producer in India, we provide end-to-end solutions in a just
and inclusive manner in the areas of clean energy, value-added energy offerings
through digitalization, storage, and carbon markets that increasingly are
integral to addressing climate change. For more information, visit renew.com and follow us on LinkedIn, Facebook, Twitter and Instagram.
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