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.
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.
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.
ACWA Power is a developer, investor, co-owner and operator of a portfolio of power generation and desalinated water production plants currently with presence in 12 countries including in the Middle East and North Africa, Southern Africa and South East Asia regions. ACWA Power’s portfolio, with an investment value in excess of USD 30.5 billion, can generate 21.5 GW of power and produce 2.5 million m3 /day of desalinated water to be delivered on a bulk basis to state utilities and industrial majors on long term off-take contracts under Public-Private-Partnership, Concession and Utility Services Outsourcing models.