Mumbai, 01 June 2023
Mphasis, (BSE: 526299; NSE: MPHASIS), an Information Technology (IT) solutions provider specializing in cloud and cognitive services, today announced a pledge to eliminate CO2e emissions from its facilities and operations to become carbon neutral by 2030. Mphasis believes carbon neutrality is an important driver of value creation and will aim to achieve its goal by implementing a well-defined energy management plan to minimize energy consumption, integrate renewable energy sources, and implement energy-efficient practices.
The company has undertaken a high-level assessment to assess the potential impact of climate risk on its business and supply chain. Mphasis has also set a year-on-year target for the reduction of energy consumption by 5% and carbon footprint by 1% and is consistently working towards achieving the same. The company has also established a governance mechanism, to monitor and evaluate progress toward achieving its ESG objectives.
“We continue to see the benefits of global decarbonization. At Mphasis we are committed to reaching net-zero emissions and executing our goals guided by climate science to drive value by investing in renewable energy, efficient waste and water management, and other green initiatives.,” said Nitin Rakesh, Chief Executive Officer, and Managing Director, Mphasis.
“At Blackstone, we believe that helping our portfolio companies advance their decarbonization practices can build stronger, more resilient businesses. It is encouraging to see Mphasis make this pledge,” said Amit Dixit, Head of Private Equity Asia, Blackstone.
Specific initiatives undertaken by Mphasis to prioritize net zero include:
● Reduce greenhouse gas emissions: Mphasis has discarded old air conditioning units with R22 refrigerants that are not ozone friendly are discarded and replaced with new air conditioning units with refrigerants R407c and R410a which are non-ozone depleting gasses. Resulting in greenhouse gasses emissions reduction by 55% approximately from the year 2015.
● Environmental footprint: Mphasis has been tracking its Carbon Footprint for the past 10 years, as of now the carbon footprint has reduced by 53.75% from the year 2015.
● Reduction in energy consumption: Energy consumption are being tracked for the past 15 years, and as of now energy consumption has been reduced by 47.73% from the year 2015.
Mphasis also has expanded its services by partnering with clients and utilizing technology such as AI/ML, blockchain technology, and quantum computing to boost efficiency, reduce energy consumption, and lower carbon emissions from their operations. As Mphasis’ Go-to-market (GTM) strategy, the company supports clients on their ESG journey in industries such as BFSI, Logistics, and Travel and offers solutions such as Green UW & Loan Lifecycle Management, Data Management & Dashboarding, AI/ML in scenario analysis to build forecasting & impact analysis models for investments & fund deployment for ESG factors.
Mphasis is committing to LEED certification for the new facilities that come up during future projects. All Mphasis facilities have also resorted to using 100% biodegradable plastic garbage bags to collect and dispose of wet waste. Mphasis has also ensured recycling of paper and E-waste to decrease and eliminate waste to achieve sustainable management processes.