UltraTech Cement Limited, a leading manufacturer of grey cement, white cement and ready-mix concrete in India, has announced its commitment to the Climate Group’s RE100 initiative at Climate Week NYC 2021. As part of this commitment, UltraTech Cement aims to meet 100 per cent of its electricity requirement through renewables sources by 2050.
With this development, UltraTech Cement will become part of a high-profile global campaign that advocates for a strong business case in transitioning to renewable energy sources in building a decarbonised economy. In addition, the RE100 announcement also aligns with UltraTech Cement’s focus to institutionalise its carbon reduction initiatives through measurable targets and commitments. RE100 will also provide an opportunity to access information about emerging technologies. These would help the company fast track the transition to 100 per cent renewable energy for its electrical energy requirement.
In the last two years, UltraTech Cement has scaled up its contractual renewable energy capacity by 2.5 times. The company has already established a target to scale up its green energy mix to 34 per cent of the overall power requirement by 2024, up from 13 per cent, currently. In the financial year 2021-22, UltraTech took another important step with the validation of its greenhouse gas (GHG) emission reduction targets by the Science Based Targets Initiative. The company is committed to reducing its scope 1 GHG intensity by 27 per cent and scope 2 GHG intensity by 69 per cent, both by 2032 from the base year of 2017.