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Infosys turns carbon neutral 30 years ahead of 2050, the timeline set by the Paris Agreement

Posted On: 2020-10-28 05:44:46


Infosys (NYSE: INFY), the global leader in next-generation digital services and consulting, published its Environmental, Social and Governance (ESG) Vision for 2030. This announcement is part of Infosys' long-standing commitments focused across core areas: climate change, technology for good, diversity and inclusion, energizing local communities, ethics and transparency, data privacy and information management. This legacy of purpose and impact has inducted the company into the prestigious Dow Jones Sustainability Indices (DJSI) and made it part of the DJSI World and DJSI Emerging Markets Indices.

As part of its ongoing Environmental, Social and Governance efforts, including leveraging renewables, orchestrating energy efficiencies and driving unique fully funded community-based carbon offset projects, Infosys is now carbon neutral in compliance with PAS 2060 standards. According to The Lawrence Berkeley National Laboratory, Infosys' work campuses are some of the most energy-efficient in the world. In fact, over the past years, the company has reduced its per capita electricity consumption by over 55 percent with the ambition to transition to renewable energy. It is the first Indian signatory to the RE100 global campaign. Infosys has also successfully developed a portfolio of community-based carbon offset projects. These focus primarily on socio-economic development of rural communities and contributions to the UN Sustainable Development Goals. The projects not only address climate change, but also benefit over 100,000 rural families.

Infosys, since inception, has recognized that the integration of ESG factors in corporate and business decision-making is an ongoing commitment.

N. R. Narayana Murthy, Founder - Infosys, said, "Longevity and success for a company comes from living in harmony with the context in which it operates. Right from the first day, Infosys has recognized and fulfilled its responsibilities towards overcoming the challenges in our context. It has also taken on new responsibilities like reducing carbon emission, improving air quality, optimally using water and solar power. The Infosys Foundation has helped the poor by addressing their needs in education, healthcare, nutrition and shelter as well as providing shoulder to the efforts of our governments during times of disaster. Today, nearly four decades after embracing these values, I am happy that Infosys continues to strive hard for these values to make our context better."

Nandan Nilekani, Co-founder and Chairman, Infosys, said, "Infosys has always balanced success as a business with unwavering focus on exemplary governance and responsiveness to the needs of the ecology and society. As an early proponent of responsible business, we understand our obligation to integrate ESG factors into what we do, which is only increasing in importance particularly in the wake of COVID-19. Our company began to take action to combat climate change in 2008 and I am delighted to announce Infosys' carbon neutrality in 2020. Today, our 2030 vision reflects how ESG will continue to be integral to Infosys' sustainable business performance."

Highlights of ESG Achievements:

1. In FY2020, over 44 percent of Infosys' electricity consumption was met through renewable energy sources. The company also invested in 60 MW of solar PV capacity.

2. Over 700,000 students from India's engineering colleges advance their digital skills on InfyTQ - Infosys' next-gen learning platform, as part of the company's social commitment to reskilling and facilitating job creation.

3. Infosys ranked number three on the 2019 Forbes 'World's Best Regarded Companies' list based on its trustworthiness, honesty, social conduct, fairness to employees and performance of its products and services.

4. Infosys Foundation and Infosys Foundation USA spend over $55 million each year on impactful projects focused on education, healthcare, rural development, destitute care and art & culture.

Salil Parekh, Chief Executive Officer, Infosys, said, "As a progressive business committed to the wellbeing of stakeholders, Infosys is incredibly proud of the investments its founders have made to make the business truly sustainable and socially responsible. The company's ESG roadmap for 2030 reflects its continued aspiration to be a well-governed model organization for diverse talent with an inclusive workplace and community strategies to leverage technology for good."

Highlights of Ongoing ESG Goals:

1. Continue to be carbon neutral across Scope 1, 2 and 3 emissions every year. Eliminate 75 percent Scope 1 and 2 Greenhouse Gas emissions and reduce by 30 percent absolute Scope 3 Greenhouse Gas emissions.

2. Expand reskilling initiatives to empower 10 million plus people with digital skills and 80 million plus lives with technology for good programs in e-governance, healthcare and education.

3. Nurture an inclusive and gender-diverse workforce with at least 45 percent women employees.

4. Continue to bring interests of all stakeholders to the fore through an empowered, diverse and inclusive Board.

5. Further strengthen data privacy and information security standards across global operations, having been awarded the accredited certification on ISO 27701 by Bureau Veritas Certification (BVC)

Shares of INFOSYS LTD. was last trading in BSE at Rs.1076.6 as compared to the previous close of Rs. 1092.15. The total number of shares traded during the day was 1763704 in over 13927 trades.

The stock hit an intraday high of Rs. 1104.45 and intraday low of 1069.6. The net turnover during the day was Rs. 1921548142.


Source: Equity Bulls

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