December 2022: PTC India Financial Services Ltd. (PFS) received three awards at the recent Global Sustainability Awards 2022 in Mauritius.
PFS has won the Environmental Sustainability Program Award, Sustainable Carbon Management Practice Award and Sustainable Water Management Award. The Award is an initiative of World Sustainability, a Not-for-Profit enterprise advocating for sustainable leadership. The Award seeks to recognise and reward outstanding achievements in sustainability. This year’s award function was held in Mauritius on 13th December 2022.
Speaking on the occasion, through virtual mode, MD & CEO of the Company Dr Pawan Singh said: “It is very heartwarming to receive recognition for our multi-faceted approach towards funding the renewable sector. Over the years, PFS has assisted a total capacity of 14,858 MW worth of renewable projects with a total capital assistance of over Rs 30,000 crores. We hope to continue our journey of aligning with the government’s focus areas and work towards financing sustainable projects.”
PFS has pioneered in funding the renewable sector when the industry was at a very nascent stage. It was among the first to recognize the importance of abatement of greenhouse gases in the environment and the importance of responsible funding. This resulted in carbon abatement of 25 million tons/annum and a total of 125 million tons of CO2 over 5 years.
To meet its goal of becoming the most financially sustainable company with zero carbon footprint, PFS set up its own wind power project in Karnataka, which resulted in abatement of 100,000 tons of CO2. The project was registered with the UNFCCC under the Clean Development Mechanism. PFS had also initiated a Crop Residue Management (CRM) Project at Patiala & Ludhiana, Punjab to tackle the recurring air pollution issue in and around New Delhi mostly during winter due to the burning of crop residue. In partnership with PHD Rural Development Foundation, PFS established RainWater Harvesting (RWH) Structures in Alwar in Rajasthan. These structures account for a total water holding capacity of 17,17,500 cu ft. and recharge ground water. PFS has also funded several RWH structures in public parks in Delhi NCR.
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