UltraTech Cement targets 100% renewable shift by 2050

Cement manufacturing major UltraTech Cement has announced its commitment to the RE100 initiative, led by Climate Group at Climate Week NYC 2021. As a part of the commitment, UltraTech aims for 100% renewable usage through non-conventional sources by 2050. Climate Group is in partnership with CDP Worldwide, which together brings the most influential businesses committed towards 100% renewable power. UltraTech Cement has set a 100% electricity target by 2020 for its overall global operations. In the last two years, the company has expanded its renewable energy capacity by 2.5 times. It aims to grow its green energy mix to about 34% of its overall power requirements by 2024 from its recent 13%. Managing Director of UltraTech, Kailash Jhanwar, told the media that the company has tremendously scaled up its green energy. The target is to use 100% renewable energy to meet the company's electrical requirements by 2050. With UltraTech joining the RE100, it will become a part of a high-profile global campaign that reflects a strong transition to renewable energy in building a decarbonized economy. Business Head and Chief Manufacturing Officer of UltraTech said that RE100's announcements are in line with UltraTech's target to reduce carbon emissions through targets and commitments. RE100 provided an opportunity to access the knowledge of new technologies, which would help in a fast transition to 100% renewable energy for the company's electrical requirements. UltraTech took another initiative in FY21 to reduce greenhouse gas (GHG) emissions by the Science-Based Targets Initiative (SBTI). The company targets to reduce its scope 1 GHG emissions by 27% and scope 2 GHG emissions by 69% by 2032. It also targets to lower its cement's carbon intensity to 462 kg net carbon per tonne of cementitious material by 2032. Image SourceAlso read: UltraTech plans $875 mn investment as a part of growth plan