The increasing awareness about the climate change amongst people across the globe is bringing about a change in the way businesses function. Now, it is not just about profitability, but sustainability too. With large and small investors seeking sustainable development, Environmental, Social, and Governance (ESG) practices are getting top priority from the corporates. One such example comes from the Indian IT space, where a company is going all out to promote ESG practices across its entire value chain.
This company has embraced a series of 'Go Green' initiatives, marking a significant stride towards responsible environmental stewardship. By taking proactive measures to conserve water and energy, the company is actively mitigating the adverse effects of its operations on the environment. Moreover, its emphasis on resource optimization and operational efficiency underscores a holistic approach to sustainability.
The company’s environmental sustainability efforts are getting recognition – the IT major got AA rating in the Morgan Stanley Capital International (MSCI) ESG Ratings for 2022-23. In FY 2021, its efforts translated into a remarkable 70% reduction in per-person carbon footprint – a tangible progress towards its sustainability goals.
The company has set ambitious targets to further shrink its carbon footprint. It aims to halve its greenhouse gas (GHG) emissions by FY30 (compared to its FY20 baseline), and become net-zero target by 2040. It has already made significant strides, slashing scope 1 & 2 emissions by 22% since FY20, and achieving a commendable 20% reduction in scope 3 emissions in FY23. Also, the company has set a goal to reduce scope 3 GHG emissions by 42% by the year 2030. In FY 22-23, the company managed to save over Rs 17,233,000 due to its energy conservation activities
This is yet another example which highlights the point that ESG results are initiatives are a win-win situation - the results add greenery to both, the corporate balance sheets and the planet. In doing so, the Indian IT major has not only set a precedent for its peers, but also reinforces the vital importance of corporate responsibility in ensuring a sustainable future.
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