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Tech Mahindra's participation in UN Global Compact

Tech Mahindra has signed a joint declaration with the UN Global Compact urging governments to align Covid-19 recovery efforts with the latest climate science. It also calls upon governments to prioritise ‘a faster and fairer transition from a grey to a green economy’.

Governments around the world are preparing to spend trillions of dollars on economic stimulus packages to help their economies recover from the impact of the global pandemic. They are also preparing to submit enhanced national climate plans under the Paris Agreement. Tech Mahindra has joined 155 other global companies across 34 sectors, with a combined market capitalisation of over $2.4 trillion, in calling for policies that will build resilience against such future shocks.

The Compact also calls for supporting efforts to arrest global temperature rise to within 1.5 degrees C above pre-industrial levels. “Covid-19 has allowed all of us to reconfigure our priorities and understand the importance of building a sustainable world by focusing on healthcare and leveraging technology to enable new ways of working,” said C P Gurnani, MD and CEO, Tech Mahindra. “We are committed to building a sustainable business with responsibility while also keeping in mind the long-term environmental impacts.”

In signing the compact, Tech Mahindra has reaffirmed its commitment to achieving net-zero carbon emissions. It has also promised to reduce its carbon footprint, conserve energy using new-age technologies such as artificial intelligence, the Internet of Things and blockchain. Besides, it has already increased its use of renewable energy to 20 percent in 2020. The company has set a target to increase its use of renewable energy to 50 percent by 2025. An internal carbon price of $10 per ton of carbon dioxide has also been implemented by the company to boost green investments.

“Our commitment towards going carbon neutral, conserving, and deploying resources efficiently will enable us to accelerate our transition to a low-carbon economy while creating sustainable value for our stakeholders,” said Sandeep Chandna, Chief Sustainability Officer, Tech Mahindra. He continues, “As part of our TechMNxt charter, we have incorporated reduction of emissions as a key aspect to every function’s mandate and our overall business strategy.”

Tech Mahindra is also working closely with partners and customers to help them increase energy savings, as well as to digitise and automate operations, and create collaborative work environments to address the need for sustainable practices.