Mphasis (BSE: 526299; NSE: MPHASIS), an information technology (IT) solutions provider specializing in cloud and cognitive services, has moved up from the 37th to 69th percentile y-o-y, in the S&P Global’s Dow Jones Sustainability Indices (DJSI) Corporate Sustainability Assessment (CSA) Annual Review 2021. Mphasis received a score of 47 out of 100 points which showed major improvement across all areas – Environment (60th percentile), Social (77th percentile) and Governance (16th to 73rd percentile). The company scored high in the Corporate Governance areas of Code of Business Conduct, Privacy Protection Practices, Board Diversity, and Identification of Emerging Risks. Human Capital Development and Talent Retention are categories under social performance that scored high. Mphasis’ Climate Change Strategy as well as Management of Scope – Greenhouse Gas have also scored well under Environment related performance criteria.
With the disruption caused by the global pandemic, the urgent need for climate action as well as the increased focus on moving towards an equitable society, the company recognizes its role as a leading technology partner and its responsibility in contributing to solutions that address these concerns. While Mphasis has always been conscious of its social responsibility, the company is now actively undertaking steps to shift “left” – to integrate sustainability into all aspects of operations and fulfil its commitment to the community at large. In its maiden year of achieving materiality in ESG reportage (for FY 2021), Mphasis has released disclosed interventions in alignment with the Global Reporting Initiative (GRI) Standards (in accordance with the Core option). The organization has also mapped its efforts across the UN Global Compact Principles as well as the UN Sustainable Development Goals 2030 in the ESG report.
“The past year highlighted beyond all doubt the importance of making your business resilient, in order to weather any storms that come your way. In building this tenacity, sustainability and social responsibility have always been the foundation for Mphasis. As a leading technology partner, we ensure that all our efforts are aligned towards giving back to the community, and driving disruption sustainably. All our efforts are underpinned by a four-fold approach aimed at reducing our environmental footprint, building sustainable supply chains, inculcating a diverse and inclusive professional culture and adhering to the highest standards of ethical governance as well as leveraging the power of technology for solving societal challenges.” said Nitin Rakesh, CEO at Mphasis.
Mphasis’ key ESG achievements of FY 2021 are:
· Mphasis has about 34% representation of women across our workforce and were ranked amongst the top 100 best private companies for women to work in India
· The organization spent about INR 268.9 million on 16 social and community projects and are supporting for over 25 start-ups developing tech solutions to address societal challenges
· They also support 3 technology focused partnerships across universities and institutions in India
· The company has been recycling 100% of wastewater across locations in India
· Mphasis accelerated efforts to phase out ozone depleting pollutants and invested in solar plants to help reduce carbon footprint
Being a technology company; Mphasis’ carbon footprint is much lower, compared to other industries. However, the company recognizes the urgent need for climate action and therefore has built a range of policies and initiatives to address climate change and global warming. The company also recognizes its obligation to the natural world and is committed to reducing the environmental effects of its operations. Being early adopters of renewable energy, Mphasis has set a year-on-year target for the reduction of energy consumption by 5% and carbon footprint by 1%.
In addition to the DJSI ranking, Mphasis has secured an overall ESG score of 59 in CRISIL ESG Gauge ranking and is among the only 11 IT companies that made it to the ranking based on their Environment, Social and Governance performance. Mphasis scored 46 on Environment, 54 on Social and 73 on Governance parameters.