Climate Policy Engagement Analysis
Climate Policy Engagement Overview: ReNew Power Private Limited (ReNew) is actively and positively engaged on various climate policies in India, including renewable energy legislation at a national and regional level. The company has also engaged positively on the energy transition, particularly on the development of green hydrogen and solar energy.
Top-line Messaging on Climate Policy: ReNew’s top-line messaging on climate policy is highly positive. The company’s 2022-23 Sustainability Report, published in November 2023 supported drastic action to reduce emissions in line with 1.5°C. In the same report, the company supported India’s 2070 net zero emissions target. Meanwhile, ReNew CEO Sumant Sinha supported the goals of the UN Paris Agreement in a December 2023 Forbes article.
ReNew also advocated for policymakers to increase the ambition of government regulation on climate policy in an October 2023 We Mean Business Coalition joint letter. ReNew also appears to advocate for a socially equitable approach to climate action, advocating for recognition of Indigenous and Traditional communities' lived climate experience in climate action, as well as increasing participatory elements in climate solutions.
Engagement with Climate-Related Regulations: ReNew appears to engage positively on climate-related regulations, particularly in relation to renewable energy. In its 2023-24 Integrated Annual Report, published in August 2024, the company supported India’s 2030 renewable energy targets and specific policies to develop renewable energy sources, including the production linked incentive (PLI) scheme and renewable purchase obligations. CEO Sinha also advocated to increase the ambition of India’s 2030 500GW renewable energy target by 25-30% in a July 2024 Financial Express article. In March 2023 comments to India's Central Electricity Regulatory Commission, ReNew also appeared to support renewable energy certificates and measures to develop new renewable energy technologies.
Aside from renewable energy legislation, ReNew CEO Sinha advocated for the creation of a national carbon market in India to ensure global competitiveness following the introduction of policies such as the EU Carbon Border Adjustment Mechanism in a July 2024 Financial Express article. The company also stated support for India’s Lifestyle for Environment (LiFE) programme, aimed at transitioning consumer habits to address emissions, on Twitter in April 2023.
Positioning on Energy Transition: ReNew appears highly supportive of energy transition-related policy, particularly the development of green hydrogen for use in zero-carbon technologies and to decarbonize hard-to-abate sectors. In a January 2023 interview with CNN, CEO Sinha stated support for the US Inflation Reduction Act and advocated for India to develop similar legislation to support green hydrogen and renewable energy development. ReNew also appeared to support India’s National Green Hydrogen Mission in an August 2023 X, formerly known as Twitter post, in which it advocated for green hydrogen to decarbonize hard-to-abate sectors.
ReNew has supported the need to transition coal power to renewable energy, while maintaining the need to ensure a fair and equitable just transition and ensuring urgent financial and technological support from developed countries, in a September 2023 Money Control article. Similarly, In its September 2023 India’s Global Leadership on Climate Change Report, the company supported the transition from coal to renewables and advocated for measures to address adverse effects on employment and poor communities.
Industry Association Governance: ReNew publicly discloses a list of some of its industry association memberships but does not comment on how the company is attempting to influence these groups, nor has it published a full review of its industry association links. The company has links to trade associations with a mixture of positive and negative positions on climate policy, including the Confederation of Indian Industry (CII) and the Federation of Indian Chambers of Commerce & Industry (FICCI).
Additional Note: ReNew is headquartered in India, where InfluenceMap’s LobbyMap platform can currently only make a provisional assessment of corporate climate policy engagement, due to limited capability to access publicly available data on this issue. As it is possible that InfluenceMap is not yet able to fully capture evidence of ReNew's climate policy engagement activities, these scores should be considered provisional at this time.
InfluenceMap collects and assesses evidence of corporate climate policy engagement on a weekly basis, depending on the availability of information from each specific data source (for more information, see ourmethodology). While this analysis flows through to the company’s scores each week, the summary above is updated periodically.This summary was last updated in 2024.