REC Limited Achieves Top ESG Rating Among Financial Institutions By NSE ESG Ratings

REC Limited, a leading NBFC and a Maharatna CPSE under the Ministry of Power, is proud to announce leadership position in the latest ESG Ratings of Companies by NSE ESG Ratings, achieving an outstanding ESG score of 80. This top-ranking is a direct reflection of the company's comprehensive and sustained commitment to embedding Environmental, Social and Governance principles into its core operations over the past three years.

REC attributes this success to a series of strategic and foundational steps taken under the guidance of the REC Board of Directors, beginning with the coining of its first-ever ESG Policy three years ago.

Key actions that drove this achievement include:

• Strategic Planning and Oversight: Systematically mapping all ESG actionables, benchmarking against best practices and engagement with international forums i.e., Climate Disclosure Project (CDP), S&P CSA, MSCI etc.

• Net-Zero Pathway: Working towards development of a detailed action plan and pathway towards Net-Zero for REC.

• Operational ESG Excellence: Achieving 100% green power and Zero discharge building for REC Corporate Office, Major Office Fleet conversion to EV etc. Awarded as GRIHA 5 rated building for REC Corporate Office. Enhanced HR policies and well being measures including mandatory training on Human Rights, Ethics, Health & Safety, Cyber Security, MCA's NGRBC Principles.

• Enhanced Disclosure Standards: Enhanced disclosures in the Business Responsibility and Sustainability Report (BRSR) and publishing of its 2nd GRI referenced ESG Report for FY 2024-25.

• Strong Leadership and Culture: The Senior Management's exceptional and continuous support in promoting a deep-rooted ESG culture across the organization.

Shri Jitendra Srivastava, CMD, REC, commented, "This milestone affirms our strategic direction—from the inception of our policies and Net-Zero planning to the enhancement of our disclosures within the GRI framework. This achievement significantly underscores our steadfast dedication to advancing the Government of India’s ambitious Panchamrit goals, demonstrating that responsible business practices are integral to our success."

For more information on NSE ESG Ratings, please visit: https://www.nse-esgrating.com/esg-ratings

About REC LIMITED

REC is a 'Maharatna' company under the administrative control of the Ministry of Power, Government of India, and is registered with RBI as Non-Banking Finance Company (NBFC), Public Financial Institution (PFI) and Infrastructure Financing Company (IFC). REC is financing the entire Power-Infrastructure sector comprising Generation, Transmission, Distribution, Renewable Energy and new technologies like Electric Vehicles, Battery Storage, Pump Storage projects, Green Hydrogen, Green Ammonia projects etc. More recently REC Limited has also diversified into the Non-Power Infrastructure sector comprising Roads & Expressways, Metro Rail, Airports, IT Communication, Social and Commercial Infrastructure (Educational Institution, Hospitals), Ports and Electro-Mechanical (E&M) works in respect of various other sectors like Steel, Refinery, etc.

REC Limited provides loans of various maturities to State, Central and Private Companies for creation of infrastructure assets in the country. REC Limited continues to play a key strategic role in the flagship schemes of the Government for the power sector and has been nodal agency for Pradhan Mantri Sahaj Bijli Har Ghar Yojana (SAUBHAGAYA), Deen Dayal Upadhaya Gram Jyoti Yojana (DDUGJY), National Electricity Fund (NEF) Scheme which resulted in strengthening of last mile distribution system, 100% village electrification and household electrification in the country. REC has been designated as the nodal agency for certain States and Union Territories under the Revamped Distribution Sector Scheme (RDSS). Additionally, the Central Government has entrusted REC with the responsibility of implementing the PM Surya Ghar Muft Bijli Yojana.