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NHPC Limited has received an Environmental, Social, and Governance (ESG) score of 60 from independent agency ESG Risk Assessments & Insights Limited. The company clarified that this rating was based solely on publicly available data and was not solicited. The score is now visible on the official websites of BSE Limited and NSE of India Limited.
Investors increasingly rely on ESG scores to evaluate a company's long-term sustainability, risk management, and ethical operations alongside financial performance. For NHPC, a significant public sector entity in India's energy sector, this score offers a benchmark for its environmental, social, and governance practices.
NHPC, India's largest hydropower developer, has been publishing Sustainability Reports since FY 2021-22, indicating a growing focus on ESG principles. In February 2026, NHPC reported an ESG rating of 61 from S&P Global based on its Corporate Sustainability Assessment 2025, up from a score of 48 in FY 2022-23, which was then the highest among peer power generating CPSEs. ESG Risk Assessments & Insights typically uses public data and proprietary models.
This unsolicited score adds a new data point for investors and analysts assessing NHPC's sustainability profile. NHPC's prompt clarification on the score's independent origin underscores its commitment to transparency. The rating provides a measurable benchmark for tracking future ESG efforts and allows for comparisons with industry peers, though methodology differences should be considered.
NHPC has previously faced scrutiny over environmental practices. The Norwegian Government Pension Fund Global once recommended excluding NHPC from its portfolio due to risks of severe environmental damage, citing allegations of muck dumping into the Dibang River and concerns over the Lower Subansiri Hydropower Project's impact on biodiversity and local livelihoods. External reports have indicated past operational practices leading to environmental pollution and regulatory attention in ecologically sensitive regions.
While direct ESG score comparisons can be challenging due to varying methodologies, NHPC's score of 60 places it in the 'Adequate' category on Crisil's scale (51-60). For context, Adani Power received a score of 65 from NSE Sustainability Ratings & Analytics in late 2025, categorized as 'Aspiring ESG'. NHPC's previous S&P Global rating of 61 (February 2026) would place it in a 'Strong' ESG category by Crisil's standards.
Moving forward, investors will likely focus on NHPC's strategies for managing and potentially improving its ESG profile. Key areas to track will include future S&P Global ratings, the company's environmental compliance, and its proactive engagement with investors on ESG performance.