Digital transformation, consulting and business re-engineering services provider Tech Mahindra has signed a joint declaration with UN Global Compact (UNGC), urging governments to align their Covid-19 recovery efforts with latest climate science. Incidentally, Tech M joins UNGC club on climate action on World Environment Day.
The UN Global Compact provides a universal language for corporate responsibility and provides a framework to guide all businesses regardless of size, complexity or location.
Tech Mahindra has joined 155 global companies in calling for policies that will build resilience against future shocks by supporting efforts to hold global temperature rise to within 1.5°C above pre-industrial levels, in line with reaching net-zero emissions well before 2050. The statement comes as governments around the world are preparing trillions of dollars’ worth of stimulus packages to help economies recover from the impacts of the coronavirus pandemic, and as they prepare to submit enhanced national climate plans under the Paris Agreement.
Tech Mahindra said that this declaration was an effort to reinforce its commitment toward reducing carbon footprints, emission and will conserve energy using new-age technologies such as internet of things, artificial intelligence and blockchain. The company has also claimed to implement an internal Carbon Price of $10/ton CO2 to boost green investments and have also adopted a low emission technology path to increase the use of renewable energy from 1.7% in 2016 to 18% in 2020. Moreover, it has also taken targets to increase the renewable source of energy to 50% by 2025.
CP Gurnani, MD & CEO, Tech Mahindra, said, “Covid-19 has allowed all of us to reconfigure our priorities and understand the importance of building a sustainable world – by focusing on healthcare and leveraging technology to enable new ways of working. At Tech Mahindra, we are committed towards building a sustainable business with responsibility and by creating value for our stakeholders, while also keeping in mind the long-term impacts on the environment. It’s time to focus on and implement technology-led solutions that will help us reboot.”
The United Nations Global Compact has stated that the 155 signatories span across 34 sectors and have a combined market capitalization of more than $2.4 trillion, representing 5 million employees. The business voices are convened by the Science Based Targets initiative (SBTi) and its Business Ambition for 1.5°C campaign partners, the UN Global Compact and the We Mean Business coalition.
Sandeep Chandna, Chief Sustainability Officer, Tech Mahindra, said, “Covid-19 has made businesses realize the importance of adopting strategies which will deliver innovative solutions without adversely affecting the environment. Our commitment towards going carbon neutral, conserving, and deploying resources efficiently will enable helps us to accelerate our transition to a low carbon economy while creating sustainable value for our stakeholders. As part of our TechMNxt charter, we have incorporated reduction of emissions as a key aspect to every function’s mandate and our overall business strategy.”
Tech Mahindra also works 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, smart metering and analytics, intelligent electric vehicle charging system (IEVCS), and community action platform for energy (CAPE).