Purpose Beyond Profits
Tech Mahindra (TechM) stands firm in its dedication to integrating Environmental, Social and Governance (ESG) principles into its core business strategy, delicately balancing sustainability with overall business profitability. This commitment is underscored by a pledge to cultivate a lasting positive impact on the planet and society, delivering heightened value for all stakeholders.
In demonstrating unwavering commitment, TechM actively pursues the reduction of carbon emissions and embraces distinctive green practices, setting itself apart in the industry. The company's dedication is exemplified through innovative approaches, encompassing energy-efficient solutions and responsible supply chain management. TechM's positive influence extends beyond its business activities to the communities it serves and the ecosystems it touches.
Carbon Neutrality And Net Zero Goals
Tech Mahindra steadfastly pledges to achieve the 2°C targets sanctioned by the Science Based Targets initiative (SBTi). Committed to the SBT initiative's Business Ambition of 1.5°C, the company is resolute in achieving carbon neutrality by 2030 and net zero by 2035, catalysing innovation and steering the course towards decarbonisation. Ambitious goals include increasing renewable energy sourcing by 50 per cent by 2025 and scaling it to an impressive 90 per cent by 2030. TechM aims to reduce Scope 1 and Scope 2 emissions by an impressive 59 per cent by 2030 and certify 100 per cent of its owned facilities as zero waste to landfill by 2026.
Adopting a multifaceted approach, Tech Mahindra pursues various initiatives to actualise its net-zero objectives. This involves optimising processes through heightened reliance on renewable energy and the adoption of resource efficiency measures across its campuses. The emphasis on an eco-design approach, including solar modules, Power Purchase Agreements (PPAs), phased LED installations, motion sensors and eco-efficient equipment, underscores the company's commitment to reducing environmental impact.
TechM embraces circular economy principles in waste management, focusing on waste reduction, recovery, recycling and reuse. Furthermore, the deployment of efficient electric vehicles for transportation and the utilisation of virtual conferencing technologies illustrate the company's commitment to reducing its carbon footprint.
Proactive measures extend to collaborations with NGOs to plant trees in and around its campus. This not only contributes to biodiversity preservation but also supports carbon sequestration, offsetting 5 per cent of the company's emissions in the long run.
The implementation of an internal carbon price of USD 13 per metric tonne of CO2 emission underscores Tech Mahindra's commitment to bolstering its green investments. A commendable
increase in renewable energy from 1.77 per cent (baseline year 2016) to an impressive 31.56 per cent for its locations in FY23 showcases tangible progress. The company has also recharged 3.06 million litres of groundwater through rainwater harvesting plants and efficiently converts 22 per cent of food waste and all leaf waste into valuable manure through organic waste converters and vermicomposting units.
Tech Mahindra's unwavering commitment extends to ensuring no adverse environmental and social impact across its operations and supply chain. The company's exceptional leadership and innovative sustainability initiatives bear witness to its profound impact on environmental and social well-being.
