Tech Mahindra, a leading provider of digital transformation, consulting and business reengineering services and solutions announced today that it has been recognized as a supplier engagement leader for environmental action. Tech Mahindra is amongst the top 9 Indian companies to secure a position in the Climate Disclosure Project (CDP) Supplier Engagement Rating (SER) 2020.
Tech Mahindra is one of the only 7% companies assessed for supplier engagement on climate change, by CDP. Recognized for its actions and strategies to reduce carbon emissions and mitigate business risks of climate change, Tech Mahindra’s performance has been assessed on governance, targets, scope 3 emissions, and value chain engagement.
Mr Sandeep Chandna, Chief Sustainability Officer, Tech Mahindra, said, “Driven by a clear purpose of creating a sustainable business, Tech Mahindra takes concerted efforts to optimize efficiency across the environmental framework of the company and its value chain. The recognition in the CDP Supplier Engagement Rating (SER) 2020, is indeed a testimony of our sustained efforts towards achieving a green economy, clean energy, and optimum use of resources.”
Data is drawn from over 8,000+ companies at all stages of the value chain who disclosed through CDP in 2020 and finds a combined US$120 billion of increased costs within the next five years from environmental risks caused by climate change, deforestation and water related impacts. This extensive data was then independently evaluated by Climate Disclosure Project (CDP), an international NGO that drives sustainable economies. The Global Supplier List developed is based on CDP’s assessment of environmental sustainability of these global companies demonstrating a superior approach to climate change mitigation.
Ms. Sonya Bhonsle, Global Head of Value Chains, CDP, said, “Companies’ emissions don’t end at the factory door. In fact, CDP data shows a company’s supply chain emissions are over 11.4 times greater than its direct emissions on average. Meaningful corporate climate action means engaging with suppliers to reduce emissions across the value chain. Despite the challenges from COVID-19, in 2020 nearly 400 companies achieved a place on CDP’s Supplier Engagement Leaderboard. Congratulations to these companies – as a Supplier Engagement Leaders, they are driving the transition towards the net-zero sustainable economy”.
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 joined Business Ambition for 1.5°C to hold a rise in global temperature below 1.5°C and 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.