NEW DELHI, Jan 27 (The CONNECT) - Tech Mahindra has been ranked as the only Indian organisation amongst the ‘2021 Global 100 Most sustainable corporations in the World’ by Corporate Knights, a media, research and financial information products company Tech Mahindra is ranked #1 in India and #72 globally in the Corporate Knights’ list for delivering superior financial performance and leading the race to zero emissions economy.
In a virtual event on Tuesday, The Prince of Wales released the Toronto-based media company’s 17th annual ranking in which Schneider Electric SE, a French company providing digital energy and automation solutions, has emerged as World’s Most sustainable corporate entity.
The ranking is based on a rigorous assessment of 8,080 companies with more than US$1 billion in revenues. Global 100 companies represent the top 1% in the world on sustainability performance. New entrants on the Global 100 from Turkey and India reflect a growing and potentially transformative Asian presence among the world’s most sustainable companies.
Earlier, Tech Mahindra Ltd has been recognized as a leader in sustainability by global environmental non-profit, Carbon Disclosure Project (CDP). The company has secured a place on the prestigious ‘A List’ for tackling Climate Change and strategizing Water Security under the environmental themes covered by CDP. Apart from being the only Indian IT company to feature in the CDP Climate Change and Water Security ‘A' Lists in 2020, Tech Mahindra is also one of the just four Indian companies in this prestigious list of 313 global organisations.
Sandeep Chandna, Chief Sustainability Officer, Tech Mahindra said, “Tech Mahindra has always recognized that businesses with ESG (environmental, social and governance) principles built into their strategy, can mitigate risks and drive profitable growth. We have integrated sustainability into our company’s core strategy and the Corporate Knights award is a validation of the fact that we are on the right path towards having a zero emissions economy.”
Tech Mahindra is also one of 28 of the Global 100 companies who 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 taken ambitious emission targets, approved by the SBTi (Science-based Targets Initiative) to reduce its absolute scopes 1 and 2 GHG (Greenhouse Gas) emissions 22% by 2030 and 50% by 2050 from baseline year 2016. The company has also taken a target to increase its renewable energy to 50% by 2025. Tech Mahindra is also working closely with partners and customers to help them increase energy savings, digitize and automate operations and create collaborative work environments addressing the need for sustainable practices. This includes solutions like Micro Grid as a Service, Smart city solutions, Smart grid, Smart Data Hubs, Smart Street light, Smart bin, Smart Energy Management, and Smart metering and analytics.
Toby Heaps, CEO of Corporate Knights, said: This year’s analysis and results strongly suggest that the world’s leading companies learned a lesson from the aftermath of the 2008/09 financial crisis. “Rather than de-prioritizing sustainability when confronted with a major shock, companies like Tech Mahindra have recognized that it will drive the success of recovery strategies,” Heaps said.
In recent decades, Schneider has shifted its focus to data centers; storage and other distributed energy resources; and smart solutions that advance electrification, energy efficiency and renewability. It now earns 70% of its revenue from, and directs 73% of its investments toward, sustainable solutions. Schneider also performs strongly in racial and gender diversity and in resource productivity and safety.
The collective performance of this year’s ranked companies further demonstrates the reality that forward-looking companies have maintained (if not enhanced) their sustainability commitment in the face of the daunting challenge of building back from the disruption of the pandemic.