SKOCH ESG Award 2024

SKOCH ESG Award 2024

News: - REC Limited secured the SKOCH ESG Award 2024 for Renewable Energy Financing, acknowledging its exceptional performance in Environmental, Social, and Governance (ESG) practices.
• Background of REC:
o REC (formerly Rural Electrification Corporation Limited) operates as a Maharatna Central Public Sector Enterprise under the Ministry of Power.
o It is registered with the RBI as a Non-Banking Finance Company (NBFC) and Infrastructure Financing Company (IFC).
• Funding Scope:
o REC provides funding for both power and non-power infrastructure projects, spanning a diverse range from generation to transportation and communication initiatives.
o It extends support to sectors including renewables, electric vehicles, and green technologies.
• Significance of SKOCH ESG Awards:
o The SKOCH ESG Awards recognize organizations demonstrating outstanding commitment to ESG practices.
o These awards serve as a crucial benchmark for evaluating organizations dedication to India 2047, highlighting the correlation between sustainable investments and processes for a sustainable business future.
• About SKOCH Group:
o SKOCH Group is a prominent Indian think tank established in 1997.
o Specializing in socio-economic issues, SKOCH engages with a diverse array of entities, ranging from Fortune 500 companies to community-based organizations.