HCLTech unveils FY23 sustainability report, achieving striking ESG milestones
In a resounding declaration of commitment to sustainable progress, global tech giant HCLTech has unveiled its eagerly anticipated Sustainability Report FY23 under the banner of ‘Supercharging Progress’ responsibly and sustainably. The report showcases the exceptional strides made by HCLTech in environmental, social, and corporate governance (ESG) domains, adhering steadfastly to its guiding principles of Act. Pact. Impact.
Environmental Milestones:
HCLTech’s pledge to reduce scope 1 and 2 emissions by 50% by 2030 and reach net-zero emissions by 2040 is already in full swing. In a remarkable feat, the company has slashed these emissions by 22% since FY20, outstripping its three-year target of 15%. Furthermore, FY23 saw a commendable 20% reduction in scope 3 emissions, surpassing the 12.6% reduction target for the same period.
In an awe-inspiring display of commitment, HCLTech replenished 26 times more water than it consumed in India during FY23, becoming the inaugural Indian company to endorse the CEO Water Mandate and join the Water Resilience Coalition. An impressive 98% of HCLTech-owned buildings boast ‘Platinum’ ratings by esteemed Green Building Councils. Over 13 million square feet of the company’s global building space is now certified as green, earning recognition from authorities like the US Green Building Council and Indian Green Building Council.
HCLTech unveils FY23 sustainability report, achieving striking ESG milestones. Photo courtesy of Raghukraman/Wikimedia Commons.
Social Initiatives:
HCLTech’s unwavering dedication extends to its social endeavors. The Sustainability School, launched in November 2022, aims to transform its 223,000+ employees into sustainability ambassadors. As of March 31, 2023, these employees have dedicated over 10,500 hours to sustainability training. Through the HCLFoundation, the company has positively touched the lives of over 5.5 million people in India and assisted more than 12,000 individuals with disabilities.
Furthermore, HCLTech’s dedication to gender diversity shines through, with an impressive 29.2% improvement in gender representation during FY23. The company’s steadfast commitment to gender equality is underscored by its third consecutive inclusion in the Bloomberg Gender-Equality Index.
Governance Accolades:
HCLTech’s ESG prowess has earned it accolades on multiple fronts. MSCI, recognizing the company’s stellar performance, has rated HCLTech as an ESG ‘Leader’ with an AA rating in the software and services industry. The S&P Global Sustainability Yearbook 2023 has designated HCLTech as an ‘Industry Mover,’ acknowledging its remarkable strides in sustainability.
Sustainalytics, too, has showered praise on HCLTech, placing it in their 2023 Top-Rated ESG Companies list for both the software and services industry and the Asia Pacific region. The company’s ‘low risk’ categorization in a global assessment of 15,000+ companies underscores its commitment to responsible practices.
A Vision for the Future:
Santhosh Jayaram, Global Head of Sustainability at HCLTech, reflects on the journey ahead, stating, “We are proud to share the progress we have made towards our ESG goals while acknowledging that the road ahead is still very long. We are focused on institutionalizing ESG throughout our business, which allows us to embrace its principles in our daily work activities across the organization.”
HCLTech’s FY23 Sustainability Report is a testament to its unwavering dedication to supercharging progress while championing sustainability and responsibility. As the company continues its forward march, the world watches with anticipation, eager to witness the transformative impact of its sustainable commitments.