REC wins Award at Outlook Planet Sustainability Summit & Awards 2024

REC Limited won the “ Sustainability Champion—Editor’s Choice Award”, while the Power Finance Corporation (PFC) Limited won the Corporate Social Responsibility award in the Non-Fossil Fuel sub-category at the Outlook Planet Sustainability Summit and Awards 2024 for Central Public Sector Enterprises (CPSEs). Central Public Sector Enterprises are those companies which are owned by the government of India.

Outlook Planet Sustainability Summit & Awards 2024 

Goa hosted the first Outlook Planet Sustainability Summit & Awards 2024 for Central Public Sector Enterprises (CPSEs) on 27 May 2028. It was organised by the Outlook Media Group, BDO India as the Awards Process Advisor and  IIT Goa as the Knowledge Partner. The event provided an opportunity for the top policymakers and the top management of the Central Public Sector Enterprises to discuss the initiatives taken by them in sustainability.

Award Category and their Winners 

The Awards were given in four categories -Sustainable Governance Champion, Corporate Responsibility Champion, Circularity Champion and Climate Action Champion. Within each category were sub-categories: fossil fuels, non-fossil fuels, and Jury Special Recognition. 

Sustainable  Governance Champion

• Coal India Limited in Fossil Fuel 
•  NHPC Limited in non-fossil fuels and 
•  Garden Reach Shipbuilders & Engineers Limited in the Jury Special Recognition Award sub category.

 Corporate Responsibility Champion. 

• GAIL (India) Limited in the fossil fuel,
•  Power Finance Corporation Limited in non-fossil fuel and 
• NLC India Limited is in the Jury Special Recognition sub-category.

Circularity Champion

• Bharat Petroleum Corporation Limited in the fossil fuel,
• Steel Authority of India Limited  in non-fossil fuel and 
• Indian Oil Corporation Limited in the Jury Special Recognition sub category.

Climate Action Champion

• NTPC Limited in the fossil fuel,
• Bharat Electronics Limited in the non-fossil and
•  Mangalore Refinery & Petrochemicals Limited in the Jury Special Recognition sub categories. 

Sustainability Champions in the Editor’s Choice Category

In the Sustainability Champions in the Editor’s Choice Category, awards were given in institutional and individual categories.

Institutional category winners were:

Engineers India Ltd (EIL), HPCL, NMDC Limited,  Oil India (OIL), Power Grid Corporation of India Limited (POWERGRID), Rashtriya Chemicals and Fertilisers Limited, National Fertilisers Limited (NFL), Oil and Natural Gas Corporation Limited (ONGC Limited) and  REC Limited. 

Individual category winners 

In the individual category, the awardees were 

• Dr PS Gahlaut of Indian Potash and 
• Prof. Rintu Banerjee, Dean of R&D at IIT - Kharagpur. 

The winners were rated by BOD India from a total of 132 CPSEs on their sustainability performance. 

What is Circularity?

Circularity in the economy refers to minimising waste and making the most of resources. It is based on the three R: Reduce, Reuse, and Recycle. 

Here, Reducing means choosing consumer goods that help reduce the amount of waste generated. Reusing means repeated use of items or parts of items that can be still used. Recycling means using waste itself as resources.