Ashok Leyland pledges to go green by sourcing 100% renewable energy by 2030, joining the RE100 initiative in line with India's renewable targets. The commercial vehicle giant supports COP28 goals and bolsters its ESG Roadmap, with Hinduja Renewables set to reach 1.5GW capacity by 2024.
Market leader in the commercial vehicles segment Ashok Leyland has announced that they will be sourcing 100% of their energy requirements through renewable sources by 2030. The company recently joined the RE100 initiative, which will position the company in line with India's target of generating 450 MW of energy through renewable sources by 2030.
These targets were set during the G20 New Delhi Leaders' declaration and COP28, these summits had a target of tripling renewable energy production by 2030. 150 businesses operating in India and 400 enterprises running around the world have joined this group and Ashok Leyland has become the latest part of it.
Mr. Dheeraj Hinduja, Executive Chairman, Ashok Leyland stated that We take great pride in embracing the values of the RE100, marking a significant stride towards adopting renewable energy as a critical part of Ashok Leyland and its subsidiaries’ energy footprint. We wholeheartedly support COP28 Climate Forum deliberations on renewable energy adoption by committing adoption of 100% renewable electricity by 2030. We are supported in our RE100 strategy by our group company, Hinduja Renewables, which has an operating footprint of 306MW with Solar Power Plants across India and are ramping up fast to achieve 1.5GW capacity by December 2024.
“This commitment gives impetus to our ESG Roadmap rooted in our purpose of Transforming Lives and Businesses through leadership in Mobility.”
It should also be noted that Ashok Leyland is the fourth largest producer of buses globally and second in India.
Upon the joining of Ashok Leyland, Dr. Divya Sharma, India Executive Director at the Climate Group, said: “Renewable electricity is key to faster decarbonisation and countries have limited choice but to make it widely available. We welcome Ashok Leyland to RE100 and for them to lead the way in driving demand for corporate renewable energy. The company’s commitment is a shot in the arm for businesses demanding renewable electricity not just in India but globally as well.”