Infosys cuts its carbon emissions by 46% in FY21 By WHF Policies
Due to the current pandemic, companies have adopted work-from-home policies and reduced most of their office expenses. WFH policy not only reduced office expenditures but also contributed to reducing environmental pollution by declining carbon emissions.
Infosys Ltd declined its carbon emissions by around 46% in FY21 just because of its efficacious implementation of work-from-home procedures. The company revealed this fact in its Environmental Social and Governance (ESG) report 2020-21.
Infosys said that permitting work-from-home efficiently and helped a lot in cutting down the overall Scope 1, 2, and 3 emissions by around 46% and has also opened the roads for developing hybrid workplace in the future. As most employees were working from home and thus company focused on revenue-based intensity tracking for the environmental KPIs (Key performance indicators) unlike conventional employee-based intensity.
Out of total carbon emissions of 290,865 tonnes in FY21, Infosys credited 41.4% to capital goods, 23.5% to global energy consumption, and 22.1% to work-from-home. Infosys stated that its continuing efforts for ESG have aided the company in enduring carbon neutrality for fiscal 2021 for the second year.
Infosys chief executive Salil Parekh stated in a letter to shareholders that in fiscal 2021, around 50% of our electricity consumption in India was met through renewable energy sources. Till this time, the company invested in 60 MV of solar photovoltaic (PV) capacity.
Infosys turned carbon neutral in 2020, 30 years before 2020 as the timeline was fixed in the Paris Agreement. Parekh said that recently the company formed an ECG Committee of the board to lead the board in settling its oversight responsibility in the matters related to organization-wide ESG initiatives, priorities, and best practices.