HCLTech Achieves 25% Reduction In Emissions In FY24 On Pathway To Net-Zero By 2040

Noida, Sep 30, 2024: Global technology company HCLTech reported healthy progress in FY24 against its sustainability goals and commitment to becoming net-zero status by 2040 by achieving a 25% reduction in Scope 1 and 2 emissions from FY20 baseline. 

“At HCLTech, we have integrated sustainability into every facet of our business strategy. We are delighted to report the progress we are making toward meeting our sustainability goals by bringing together the best of technology and our people,” said Raj Ramachandran, Chief of Staff to CEO & MD, HCLTech.

HCLTech has achieved a 25% reduction in Scope 1 and 2 emissions (from FY20 baseline). The reduction in the Scope 1 and 2 emissions has exceeded the SBTi-verified target pathway by 5% for the year. In addition, the company has achieved a 29% reduction in Scope 3 emissions (from FY20 baseline).
HCLTech recorded 26% reduction in energy consumption and 19% of its energy requirements are met through renewable sources. By 2030, it aims to transition 80% of its electricity usage to renewable sources and achieve zero waste to landfill at all owned facilities by 2025.

In India, HCLTech replenished 32X water it consumed across its India operations. Almost 98% of the company-owned buildings have earned ‘Platinum’ ratings from Green Building Councils. The company planted 2.1 million saplings and harvested 81 billion liters of water to support communities and the environment.

Launched in November 2022, the HCLTech Sustainability School has delivered over 15,700 training hours to employees to make them sustainability champions.
 
HCLTech continued to invest aggressively in community initiatives through HCLFoundation, innovative global grants and partnerships with non-profit organizations.   

HCLFoundation’s programs have positively impacted over 6.5 million lives in India till date, with 54% being female beneficiaries and supported over 13,500 people with disabilities.

The company launched the HCLTech Americas Grant program, committing $5 million in grants over five years to support Not-For-Profit organizations (NPOs) with innovative projects focused on combating climate change, restoring ecosystems and enhancing biodiversity across the Americas.

On the people front, HCLTech has been recognized as a Top Employer in 26 countries and ranked No 1 in 15 countries. The company’s gender diversity stands at 29.1%, with women making up 44% of new hires and a 33% increase in differently-abled employee headcount.

HCLTech is part of the World’s Most Ethical Companies 2024 list by Ethisphere. The company has developed and enhanced its governance framework, including an AI Risk Management framework compliant with global standards and the establishment of an AI Governance Committee and Risk and Compliance Apex Committee (RCAC).

The company has received an ‘A-’ rating from CDP; been recognized by MSCI, Sustainalytics and S&P for its ESG efforts; achieved Gold rating from EcoVadis; and received a Gold award at the 3rd ICAI International Sustainability Reporting Awards. HCLTech was also included in the S&P Global Sustainability Yearbook 2024 and ranked among the Top 10 Most Sustainable Companies in India.