8 Mar 2024
New Delhi, February 2024 - Vaishali Nigam Sinha, Co-Founder and Chairperson of Sustainability at ReNew, a NASDAQ-listed green energy company, envisions a future where women play a pivotal role in India's clean energy sector.
Key Insights from the Interview:
1. Navigating the Energy Transition Landscape: Vaishali emphasizes that the pace of energy transition should consider factors like energy security, accessibility, and affordability. Recognizing India's ambitious target of setting up 500 GW of clean energy generation capacity by 2030, she commends the government's strategy to add 50 GW of renewable energy capacity annually.
2. ESG as a Strategic Imperative: As a co-founder of a renewable energy company, Vaishali sees Environmental, Social, and Governance (ESG) practices not just as compliance measures but as strategic imperatives. She stresses the importance of strategic implementation, avoiding greenwashing and ensuring that ESG initiatives contribute to de-risking businesses.
3. Women in Clean Energy: Bridging the Gap: Vaishali addresses the gender gap in the clean energy sector, highlighting the need for more women to meet the growing demand for human resources. She suggests re-skilling women from other sectors, such as coal, and emphasizes the importance of creating an enabling environment for girls to pursue careers in STEM fields. ReNew's initiatives include hiring women, establishing women-led segments in solar manufacturing plants, and partnering with institutions like IIT to develop specific renewable energy graduate programs.
4. Diversity and Inclusion Goals: While acknowledging the need for better gender diversity in ReNew's management committee, Vaishali expresses pride in achieving 40 percent diversity and inclusion (D&I) at the board level. Her goal for the next financial year includes increasing the representation of women in senior management to at least 50 percent.
5. Financial and Operational Goals: Vaishali underscores the critical importance of execution for achieving financial goals. She expresses a wish for a more favorable interest rate environment to enhance access to capital, crucial for the clean energy sector.
In conclusion, Vaishali Nigam Sinha's vision goes beyond mere business objectives. It encompasses a commitment to sustainability, a drive for gender diversity, and a strategic approach to aligning business practices with global expectations for a greener and more inclusive future.