Tech Mahindra has been recognized 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 which produces rankings and financial product ratings based on corporate sustainability performance.
Tech Mahindra is ranked #1 in India and #72 globally in the list of World’s 100 Most Sustainable Corporations for delivering superior financial performance and leading the race to zero emissions economy.
Corporate Knights has released its 17th annual ranking of the world’s 100 most sustainable corporations, following 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.
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.
The Corporate Knights ranking highlights that Global 100 companies earn 41% of their revenues from products or services aligned with the UN Sustainable Development Goals, compared to just 8% for their peers.
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,” says Toby Heaps, CEO of Corporate Knights. “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.”