New Delhi, August 6, 2024 – NTPC Limited, India’s largest power utility, has released its Business Responsibility and Sustainability Report for the FY 2023-24. This comprehensive report outlines NTPC’s vision of responsible business conduct and its sustainability initiatives and strategies for times to come.
Overview of the Business and Operations
Incorporated in 1975, NTPC has grown to become one of the large power-generating entities, with this segment contributing 94.19 % to its turnover. The company has a bouquet of power generation from coal, gas, hydro, solar, and wind power plants. Of these, coal dominated the share.
Its customer base includes state-owned electricity utilities, private distribution companies, and overseas customers who are mainly located in Bangladesh and Nepal.
Sustainability and Environmental Initiatives
NTPC has been diversifying its energy portfolio to include RE, green hydrogen, and energy trading. It is building a pathway to decarbonize by increasing the share of renewables in the energy mix.
The adoption of advanced cooling systems, such as ZLD and air-cooled condensers, has minimized the water footprint, especially at stations located in water-stressed areas. Such steps by NTPC can be contextualized within its approach to mitigating water security risks and reducing environmental impacts.
Workforce and Diversity
The report presents the workforce of NTPC comprising a total of 15,685 employees and 129,249 workers. The workforce has also been made gender-diverse with women consisting of 7.41%.
NTPC also encourages inclusiveness as it employs 361 differently-abled persons.
Corporate Social Responsibility (CSR) and Stakeholder Engagement
Some of the main operations of NTPC include CSR activities. The CSR activities of the company focus on infrastructure development, quality of life, and employment opportunities. It has a turnover of ₹1,65,707.27 crore, and net worth is ₹1,49,885.02 crore.
NTPC has developed a very impeccable grievance redressal mechanism. It obtains complaints from all categories of stakeholders in the company, including communities, investors, employees, and customers.
Material Issues and Outlook for the Future
It recognizes climate change and water security as critical risks and opportunities before the company. NTPC is tackling them through strategic initiatives in the sphere of energy transition and water conservation, thereby making the company resilient to environmental challenges.
The BRSR of NTPC for 2023–24 is in itself a testimony to the fact that NTPC is committed to sustainable and responsible business practices. It will help the company sail through in the changing energy landscape by playing on the strengths in conventional sources of power while at the same time increasing its footprint in the new sustainable energy sources.