Corporate Social Responsibility (CSR) towards renewable energy

Renewable purchase obligation (RPO) is a mechanism by which the obligated entities are obliged to purchase certain percentage of electricity from Renewable Energy sources, as a percentage of the total consumption of electricity. RPOs are categorized as Solar and Non-Solar.

Today energy is climbing up the corporate agenda due to sweeping environmental, social and business trends including climate change and global carbon regulation, increasing pressures on natural resources, rising expectations about corporate environmental performance, innovations in energy technologies and business models and plummeting renewable energy prices. These megatrends change the context in which businesses operate and open companies up to new risks and new paths to value creation.

Corporate Social Responsibility (CSR) refers to a company’s voluntary commitment to responsible business practices that benefit society. CSR accounts for the social and environmental impacts a business has in the course of its operations – a concept often referred to as the “triple bottom line.” The “triple bottom line” (TBL) describes three different “bottom lines” a company should consider. In addition to the traditional bottom line, “profit,” a company should also consider “people” (how socially responsible it has been) and “planet” (how environmentally responsible it has been).

In India, as per the new norms of India’s power ministry for FY 2021-2022, all entities that fall under the RPO should procure 10.5% of their total electricity from solar sources and another 10.5% of their power from other non-solar renewable sources. To enforce RPO targets, the Indian government has launched the RPO Compliance Cell. As per the notification, the Cell is to coordinate with states and other departments on matters relating to RPO compliance, including monthly reports on compliance and to take up non-compliance-related issues with appropriate authorities.

As part of meeting Corporate commitments to the environment, companies have set ambitious sustainability goals. In addition to winning over customers, the renewable energy sustainability goals have the added benefit of cutting costs. Through our renewable energy services, Marvel Green Energy is supporting our entities to satisfy their CSR goals.