Dubai, United Arab Emirates. For Immediate Release: 31st January, 2016: ACWA Power, the fastest growing power and water developer in the region, has won a highly-respected award for its annual sustainability report at the Asia Sustainability Reporting Awards at a ceremony in Singapore.
The value of sustainability reporting helps organizations not only manage their social and environmental impacts but also improve operating efficiency and natural resource stewardship, while also increasing transparency and corporate governance which in turn builds reputation and bottom line value.
ACWA Power’s first sustainability report prioritized three key areas: corporate compliance, its impact on socio-economic development, and sustainable practices. ACWA Power’s wins came in the ‘Best First Time Sustainability Report’ category. The company was also shortlisted for the ‘Best Sustainability Report (SME)’ award.
Paddy Padmanathan, President and CEO, ACWA Power said: “It is imperative that we complement our rapid growth with world-class sustainability reporting to reaffirm our commitment to compliance, governance and transparency among our stakeholders, ranging from governments to the local communities in which we operate.”
The 2014 report also highlighted ACWA Power’s ethical responsibility. For example, all of the firm’s Independent Power Producer projects now meet the highest environmental and social standards, while the company has also significantly expanded its renewable energy capacity by 770 MW in less than a year, taking it to 1,038 MW.
“External recognition is a key indicator for companies and governments assessing our delivery in this area. We’re determined to use this award as a springboard, building on the great progress we’ve achieved in a short time period, and expanding our contribution to sustainable development in the regions in which we operate,” said Thamer al Sharhan, Managing Director, ACWA Power.
The Asia Sustainability Reporting Awards recognize and honour sustainability reporting leaders in Asia, celebrating best practices in sustainability reporting and communications. An independent panel of judges with distinguished backgrounds was brought together to decide on the winners. The awards also aim at creating awareness about sustainability reporting and inspiring all types of organisations to start their sustainability reporting journey.
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