REC Wins ‘Sustainability Champion’ Award at Outlook Summit 2024

Saraswathi, Senior General Manager of REC’s Mumbai Office, received the award at the event held in Goa.

May 30, 2024. By Abha Rustagi

REC Limited, a Maharatna Central Public Sector Enterprise under the Ministry of Power and a leading Non-Banking Financial Company (NBFC), has been honoured with the ‘Sustainability Champion – Editor’s Choice Award’ at the ‘Outlook Planet Sustainability Summit and Awards 2024’.

The award ceremony, organized by Outlook Group in collaboration with IIT Goa, recognized REC’s commitment to sustainability initiatives and its efforts in driving progress towards a greener future. Saraswathi, Senior General Manager of REC’s Mumbai Office, received the award at the event held in Goa.

REC has been a front-runner in catalyzing India's energy transition. Its plans are aligned with the global thrust towards clean energy sources, and the company remains committed to being the leading financier of India’s energy transition.

REC is geared to invest in sustainability initiatives, as reflected in its current loan portfolio of approximately INR 38,971 crores under renewable energy. The company has set a target of improving the renewables mix to around 30 percent of its projected loan book of about INR 10 lakh crores by the year 2030.

The Outlook Planet Sustainability Summit and Awards is a prominent platform that brings together industry leaders, policymakers, and sustainability advocates to celebrate and promote excellence in sustainable practices. This year's summit featured insightful discussions, innovative ideas, and recognized the remarkable achievements of organizations dedicated to sustainability.

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