Greenko recognizes the limitation of ‘All Renewables’ to address ‘Net-Zero Emissions’ by 2050 which is essential for 2 degrees pathway of the Paris Climate accord. Renewable Energy can decarbonize up to 55% and for the remaining 45%, adopting circular economic approaches is imperative. In addition, Greenko is aware of the concerns of the patient capital vis-avis the long-term effectiveness of its assets. Accordingly, circular economic approaches that extend the life and also have effective plans for ‘second life’ or manage ‘end of life’ of assets are being pursued.
The leadership at Greenko envisions that the energy assets that it creates follow principles of and be a part of nature. These energy assets are efficient, effective, and balancing. In the design, execution, and operation, such assets are regenerative, sustaining for generations, and are circular. Greenko believes that while delivering multiple values to the economy, society, and environment the regenerative and circular model will deliver sustained returns to its financial stakeholders. Greenko, during this reporting period, has reviewed its Value Creation Model, Strategic Approaches and KPIs for addressing aspects of regenerative and circular economic principles and approaches
While Greenko continues to contribute to the sustained growth of the national economy, it also desires to pursue a fundamentally different path to prosperity, that is, support the development of healthy human networks. It believes that prosperity arises out of the relationships and patterns of healthy human networks, within the biophysical constraints of the planet and under its physical laws.
Regenerative economic systems build lasting human, societal, and economic vitality by developing richness, variety, responsiveness, and integrity of inclusive human networks at every level of global civilization. The task at hand for business, finance, and policymakers is to shift into alignment with the regenerative principles described below to give rise to healthy human networks. Accordingly, Greenko desires to develop energy systems that are circular and support regenerative economic systems.
The Energy Systems at Greenko, thus are adhering to the principles of regenerative economic systems:
Principles of Regenerative Economic Systems
Further, it is important to specifically recognize the transition journey from degenerative to sustainable to regenerative systems, as depicted below.
Transition Journey from degenerative to sustainable to regenerative systems
Regenerative systems are designed using the principles of living systems, unlike the present systems that are designed on the basis of technical systems.
Accordingly, additional strategic approaches considered by Greenko to address regenerative thinking are:
Pursue Eco Design principles in Project Design, Execution, and Operation
Increase Share of “Invest- Generate and Consume” models at a decentralized level
Deliver power to maximize improvement in holistic wealth (Human Development Index)
Deploy business models to harness increasing electrification
Improve co-creation with suppliers, customers, regulators, and communities
Continuous Improvement in the Life Time of all assets
Minimal waste or stagnation of money, men, material, and information
Improve the effectiveness of service offerings
Further, Greenko has identified the following additional circular approaches and performance indicators to be included appropriately in its value creation framework.
Circular Approach and Indicators
Circular Economy Initiative
Greenko is now very diligently and conscientiously adhering to circular economics principles in managing its assets.