Reiterates commitment towards carbon neutrality
and calls for a net-zero recovery from Covid-19
Tech Mahindra Ltd. a leading
provider of digital transformation, consulting and business reengineering
services has signed a joint
declaration with UN Global Compact
urging governments to align their COVID-19 recovery efforts with the latest
climate science.
Tech Mahindra reaffirms the science-based commitment of achieving
net-zero carbon emissions while calling on governments to “prioritize a
faster and fairer transition from a grey to a green economy.” By moving towards a zero-carbon resilient economy, Tech Mahindra aims
to reduce carbon footprint, emissions and will conserve energy using new-age
technologies like internet of things, artificial intelligence and blockchain.
Furthermore, an internal Carbon Price of $10/ton CO2 has also been implemented
by the company 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, Tech Mahindra
has also taken targets to increase the renewable source of energy to
50% by 2025.
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.
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.
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, IEVCS (Intelligent Electric Vehicle Charging System) and CAPE (Community
Action Platform for Energy).
New Delhi – June 5, 2020
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