Tech Mahindra Ltd. has committed to reduce its absolute scopes 1 and 2 GHG (Greenhouse Gas) emissions 22% by 2030 and 50% by 2050, from a 2016 base-year. The same has been approved by the Science Based Targets initiative (SBTi).
The SBTi approval confirms that Tech Mahindra’s long-term targets are in line with the level of decarbonization required to keep global temperature increase below 2°C, as compared to pre-industrial temperatures, as set out in the Paris Agreement on climate change.
Sandeep Chandna, Chief Sustainability Officer, Tech Mahindra, said, “Tech Mahindra is committed to the Paris agreement targets and is consciously adopting a strategy which will deliver innovative solutions without adversely affecting the environment. SBT gives us a clear roadmap to optimize our carbon footprint and is enabling us to move towards a low carbon economy that will reduce future climate change risks.”
Tech Mahindra is focusing on improving energy efficiency through process optimization, energy conservation initiatives, increased use of renewable energy and by investing in low emission and green technologies.
Cynthia Cummis, Director of Private Sector Climate Mitigation at World Resources Institute, one of the Science Based Targets initiative partners, said: “We congratulate Tech Mahindra on setting a science-based target. By aligning their strategy with the goals of the Paris Agreement, they are taking a leading role in the low-carbon transition and positioning their business to thrive as the global economy shifts to a sustainable future.”
The Science Based Targets initiative (SBTi) is a collaboration between CDP, the United Nations Global Compact, World Resources Institute (WRI) and the World Wide Fund for Nature (WWF). The SBTi defines and promotes best practice in science-based target setting and independently assesses and approves companies’ targets. Science-based targets provide companies with a clearly defined pathway to future-proof growth by specifying how much and how quickly they need to reduce their greenhouse gas emissions.
Targets adopted by companies to reduce greenhouse gas emissions are considered “science-based” if they are in line with the level of decarbonization required to keep global temperature increase below 2 degrees Celsius.