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HCLTech, a global technology company, has reported considerable progress in its sustainability efforts for the fiscal year 2024. The company has achieved a 25% reduction in Scope 1 and Scope 2 emissions, based on a fiscal year 2020 baseline. This reduction surpasses the targets set by Science-Based Targets initiative (SBTi) by 5% for the year. Moreover, HCLTech has achieved a 29% reduction in Scope 3 emissions compared to the fiscal year 2020 levels.
Chief of Staff to CEO and MD, Raj Ramachandran, commented, "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."
Energy consumption at HCLTech decreased by 26% in the same period, with 19% of its energy requirements now being met through renewable sources. The company aims to transition 80% of its electricity usage to renewable sources by 2030 and plans to achieve zero waste to landfill at all owned facilities by 2025. In India, HCLTech claims it has replenished 32 times the water it consumed across its operations. Furthermore, 98% of the company-owned buildings have received 'Platinum' ratings from Green Building Councils.
In its community and environmental initiatives, the company planted 2.1 million saplings and harvested 81 billion litres of water to support local communities and ecosystems. The HCLTech Sustainability School, launched in November 2022, has conducted over 15,700 training hours to educate employees on sustainability practices.
HCLFoundation, the company's social responsibility arm, has reportedly affected over 6.5 million lives in India, with a noted emphasis on 54% female beneficiaries and over 13,500 individuals with disabilities supported. Additionally, the company introduced the HCLTech Americas Grant programme, committing USD $5 million over five years to support non-profit organizations focused on combating climate change, restoring ecosystems, and enhancing biodiversity across the Americas.
On the workforce front, HCLTech has been recognised as a Top Employer in 26 countries, ranking first in 15 of them. The company's gender diversity metric stands at 29.1%, with women comprising 44% of the new hires and a 33% increase in the headcount of differently-abled employees.
HCLTech has been acknowledged as part of the World's Most Ethical Companies 2024 list by Ethisphere. The company has developed a governance framework that includes an AI Risk Management framework compliant with global standards, and has established both an AI Governance Committee and a Risk and Compliance Apex Committee.
The company also received several accolades for its environmental, social, and governance (ESG) efforts. These include an 'A-' rating from CDP, recognition from MSCI, Sustainalytics, and S&P, and a Gold rating from EcoVadis. HCLTech received a Gold award at the 3rd ICAI International Sustainability Reporting Awards and was included in the S&P Global Sustainability Yearbook 2024, ranking among the Top 10 Most Sustainable Companies in India.
