It’s a well-deserved recognition. Tech Mahindra has been ranked No#1 in India and No#72 globally in Corporate Knights’ 2021 list of the World’s 100 Most Sustainable Corporations. It is the only Indian company to be awarded the honour.
Corporate Knights, a media research and financial information products company, released its 17th annual ranking following a rigorous assessment of 8,080 companies with more than $1billion in revenue. According to the report, global 100 companies earn 41% of their revenues from products or services aligned with the United Nations’ sustainable development goals (SDGs) as compared to 8% for their peers.
Tech Mahindra finds place on the list for delivering a superior financial performance and leading the race to a zero emissions economy. “We integrated sustainability into our company’s core strategy and the Corporate Knights award is a validation of the fact,” said Sandeep Chandna, Chief Sustainability Officer, Tech Mahindra.
This year’s analysis and results indicate that the world’s leading companies have learnt a lesson from the aftermath of the 2008 / 2009 financial crisis, says Toby Heaps, CEO, Corporate Knights. “Rather than deprioritising sustainability when confronted with a major shock, companies like Tech Mahindra have recognised that it will drive the success of recovery strategies,” he adds.
For Tech Mahindra, sustainability has been a cornerstone of its business strategy. “Tech Mahindra has always recognised that businesses with ESG (environmental, social and governance) principles built into their strategy can mitigate risks and drive profitable growth,” says Mr Chandna. Teamwork helps magnify the results multi-fold.
So, the company is working closely with partners and customers to help them increase energy savings, digitise and automate operations and create collaborative work environments to accelerate sustainable practices. This includes solutions like micro grid as a service, smart city solutions, smart grids, smart data hubs, smart streetlights, smart bins, smart energy management, smart metering and analytics.
Tech Mahindra is one of the 28 Global 100 companies that have signed the Business Ambition for 1.5°C commitment, an initiative by a global coalition of UN agencies and business leaders to prevent the worst impacts of climate change.
Tech Mahindra has set ambitious emission targets to reduce absolute scopes 1 and 2 greenhouse gases’ (GHGs) emissions by 22% by 2030 and 50% by 2050, from baseline year 2016. These targets are approved by the Science Based Targets initiative (SBTi). The company is also striving to increase its renewable energy to 50% by 2025.
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