Mphasis commits to carbon neutrality by 2030 with robust sustainability initiatives
Mphasis, an India-based IT solutions provider specializing in cloud and cognitive services, has made a significant commitment to environmental sustainability.
The company announced its pledge to achieve carbon neutrality by 2030 by eliminating CO2e emissions from its facilities and operations.
Mphasis recognizes the importance of carbon neutrality as a driver of value creation and plans to achieve this goal through the implementation of a comprehensive energy management plan focused on reducing energy consumption, incorporating renewable energy sources, and adopting energy-efficient practices.
Nitin Rakesh — Mphasis CEO and Managing Director said: “We continue to see the benefits of global decarbonization. At Mphasis, we are committed to reaching net-zero emissions and executing our goals guided by climate science to drive value by investing in renewable energy, efficient waste and water management, and other green initiatives.”
To ensure the effectiveness of its sustainability efforts, Mphasis conducted a high-level assessment to evaluate the potential impact of climate risk on its business and supply chain.
Mphasis aims to become carbon neutral by 2030 with robust sustainability initiatives. Photo courtesy of Innocuous86/Wikipedia.org.
The company has also set annual targets for an energy consumption reduction of 5% and a carbon footprint reduction of 1%, working diligently to achieve these objectives. To monitor and evaluate progress towards its environmental, social, and governance (ESG) objectives, Mphasis has established a robust governance mechanism.
Mphasis has undertaken specific initiatives to prioritize achieving net-zero emissions. One such initiative involves replacing old air conditioning units that use R22 refrigerants, which are harmful to the ozone layer, with new units utilizing non-ozone-depleting gases like R407c and R410a. This switch has resulted in a substantial 55% reduction in greenhouse gas emissions since 2015.
Additionally, Mphasis has diligently tracked its carbon footprint for the past decade and successfully reduced it by 53.75% since 2015. The company has also made significant strides in reducing energy consumption, achieving a noteworthy 47.73% reduction since 2015.
In addition to these efforts, Mphasis has expanded its services by partnering with clients and leveraging innovative technologies such as artificial intelligence (AI), machine learning (ML), blockchain, and quantum computing. These technologies are employed to enhance efficiency, lower energy consumption, and reduce carbon emissions in the company’s operations.
As part of its Go-to-market (GTM) strategy, Mphasis assists clients in various sectors, including BFSI (Banking, Financial Services, and Insurance), Logistics, and Travel, by offering solutions such as Green UW & Loan Lifecycle Management, Data Management & Dashboarding, and AI/ML-driven scenario analysis models for forecasting and impact analysis related to environmental, social, and governance (ESG) factors.
Mphasis is committed to sustainable practices in its future projects, aiming to obtain LEED certification for its upcoming facilities. The company has implemented eco-friendly waste management practices, utilizing 100% biodegradable plastic garbage bags for wet waste collection, and prioritizing the recycling of paper and e-waste. These measures contribute to Mphasis’ overarching objective of achieving sustainable management processes and minimizing waste.
By undertaking these comprehensive sustainability initiatives and aligning their operations with environmental goals, Mphasis demonstrates its commitment to responsible business practices and environmental stewardship.