Energy is a key focus area in ITC's strategy for mitigating climate change risks. Since making sustainability a core objective in all business operations nearly two decades ago, it has worked to a low carbon growth plan in which expanding its renewable energy portfolio is a top priority.
ITC currently utilizes wind, solar and biomass energy. Each Company Business is mandated to find the best solution to increase its use of renewable energy. For example, the Hotels Business mainly utilizes wind energy both from commercial grids and self-owned wind farms as well as solar energy. The energy-intensive Paperboards Business mainly uses biomass and further improves efficiencies by only using either locally sourced material or the by-products of its own manufacturing operations.
Systematic implementation of action plans has kept the share of carbon neutral fuels consistently at over 30% of our total energy consumption for about a decade. The current share of over 43% has been achieved despite considerable growth in business and manufacturing operations. Our goal is to progressively scale this up to 50%.