GPS Renewables, a Bengaluru based clean fuels technology and engineering company, has released its 2023 Environmental, Social, and Governance (ESG) Report, aligned with the Global Reporting Initiative (GRI). The report underscores the company's commitment to being a responsible, sustainable, and inclusive organization.
As a leading clean fuels company, GPS Renewables aims to make a positive impact on the planet by spearheading the transition to renewable energy sources. They focus on BioCNG, 2G Ethanol, and Green Hydrogen to facilitate large-scale decarbonisation. Their strategic approach includes technology delivery, project execution, biofuel asset ownership, and specialised products, all aimed at achieving India's Net Zero goal and fostering low-carbon, inclusive development through clean fuels.
Beyond providing design and engineering services for clean fuel projects, GPS Renewables actively invests its own capital in developing large-scale climate-positive infrastructure, which helps reduce GHG emissions. Their dedicated team of experienced climate professionals fosters an in-house culture of innovation for unique climate-positive concepts, which are incubated, developed, and operated through strategic partnerships to maximise their impact on sustainability and climate action.
Mainak Chakraborty, CEO and Co-Founder, GPS Renewables, expressed gratitude to investors, customers, governments, and communities for their support. He emphasised the company's commitment to evaluating inclusivity and responsibility in their operations and ensuring a just transition to renewable energy.
Key highlights from the ESG Report include:
Environment:
- Avoidance of 4,93,000 tonnes of carbon emissions.
- Processing and diversion of 120,000 tonnes of waste from landfills.
- Over 100 decentralised waste-to-clean-energy deployments in the commercial and industrial segment.
- Daily processing of 500 tonnes of Municipal Organic Waste at Asia's largest BioCNG plant in Indore.
- Enabling 400 Municipal Buses in Indore to run on Clean BioCNG from GPS Renewables' plant.
Social:
- Promotion of diversity within the employee base, with approximately 10 per cent women in the total workforce and 21 per cent in non-site based roles.
- Emphasis on hiring experienced professionals from the 30-50 age bracket, constituting 46% of new hires in FY23.
- Employment of 215 individuals on a Full-Time Equivalent (FTE) basis from local communities to foster empowerment and inclusivity.
Governance:
- Collaboration with approximately 297 suppliers, with 94 per cent based in India and 16 per cent being small and medium enterprises (SMEs).
- 41 per cent of total procurement spends directed towards SMEs, supporting local businesses and communities.
- No cases of whistleblowing, bribery, corruption, or employee grievances reported.
The preparation of the ESG Report involved a Materiality Assessment, which engaged internal stakeholders, including leadership, functional heads, and investors, through surveys, interviews, and interactions, ensuring transparency and meaningful dialogue. GPS Renewables remains steadfast in its dedication to progress in a way that is responsible, inclusive, and sustainable, leaving no one behind in the transition to renewable energy.