Tag: (CDP)

Business

Tech Mahindra Recognized as the only Indian Company with a Double ‘A’ Score

Feb 14, 2024 by Sujata Muguda 0 Comments #(CDP), #Indian Company with a Double ‘A’ Score, #Sandeep Chandna, #Sherry Madera, #Tech Mahindra

Mumbai – February 14th, 2024: Tech Mahindra, a leading provider of digital transformation, consulting, and business re-engineering services & solutions, today announced that it has secured a double ‘A’ leadership ranking in corporate transparency and performance on climate change and water security by CDP, a global non-profit that runs the world’s environmental disclosure system for companies, cities, states and regions. As the only Indian company to have received the dual ‘A’ score, Tech Mahindra has reaffirmed its commitment to environmental leadership and proactive efforts in addressing global challenges.

CDP holds the largest environmental database in the world, and its scores are widely used to drive investment and procurement decisions towards a zero carbon, sustainable and resilient economy. The recognition from CDP validates Tech Mahindra’s strides towards achieving ambitious sustainability goals, including carbon neutrality by 2030 and net zero emissions by 2035, coupled with significant efforts in renewable energy sourcing and water conservation initiatives. Based on the data reported through CDP’s 2023 Climate Change and Water Security questionnaires, Tech Mahindra is one of a few companies to receive a double ‘A’ rating out of over 21,000.

Sandeep Chandna, Chief Sustainability Officer, Tech Mahindra, said, “Tech Mahindra’s consistent recognition on CDP’s ‘A’ list, spanning multiple years and categories, reflects our unwavering dedication to addressing critical global challenges. Our industry-specific focus lies in combating climate change and ensuring water security, both urgent imperatives amid escalating threats to ecosystems, communities, and economies globally. We are taking steps to reduce our environmental impact by implementing sustainable practices, reducing carbon emissions, conserving water, and investing in renewable energy. Our commitment, reflected in these efforts, is a stride towards a sustainable future, symbolizing innovation, collaboration, and a resilient planet for future generations.”

As part of its commitment to addressing climate change, Tech Mahindra aims to increase renewable energy sources to 90% by 2030. In FY23, it reduced its Scope 1 and 2 emissions by 40%. The company has made significant progress, including achieving the Indian Green Building Council (IGBC) and Leadership in Energy and Environmental Design (LEED) certification for some of its campuses, implementing an internal carbon pricing strategy, and emphasizing green procurement. Additionally, it has deployed over 5,600 water restrictors and sensors to conserve water, resulting in a 30% reduction in water consumption, with 200,024.3 kiloliters of water recycled in FY23.

Sherry Madera, CEO of CDP, said, “Congratulations to all the companies on CDP’s A List, and those companies that started or accelerated their journey towards environmental transparency in 2023 – we saw a 24% increase of disclosures last year and that trajectory is to be applauded. It is only by laying the groundwork of disclosure that companies can show they are serious about the vital part they play in securing a net-zero, nature-positive future. Earning a place on the A List is about more than the score. It’s an indication of high quality, complete data that equips companies with a holistic view of their environmental impact, serves as a baseline for transition plans and – crucially – enables them to follow through on their ambitions. As we move deeper into the Decade of Action, and as CDP continually raises the bar for what represents environmental leadership, the work of A List companies is never complete. We look forward to seeing all companies turn their commitments into further and more meaningful and effective action.”

CDP uses a detailed and independent methodology to assess, allocating a score of A to D – based on the comprehensiveness of disclosure, awareness and management of environmental risks and demonstration of best practices associated with environmental leadership, such as setting ambitious and meaningful targets. Tech Mahindra has consistently been recognized on CDP’s ‘A’ list since 2014 for Climate Change.

Business

Lanxess recognized by CDP as global climate protection leader

Dec 13, 2021 by Gouri Achary 0 Comments #(CDP), #global climate protection leader, #Hubert Fink, #Lanxess

Specialty chemicals company LANXESS has once again been recognized for its achievements in the fight against climate change. In the latest assessment by the renowned climate protection initiative CDP, the Group has made it into the “Climate A List” as one of 200 companies worldwide. This puts LANXESS among the top 2 percent of the more

than 12,000 companies assessed by CDP.

The “A” rating is awarded to companies that report particularly transparently and comprehensively on their climate protection activities and also implement corresponding projects. LANXESS is on the “Climate A-List” for the fifth time this year. The Group has been disclosing climate protection-related data to CDP since 2012.

“Climate protection is a central part of the corporate strategy at LANXESS. This is reflected in our ambitious goal of becoming climate neutral by 2040. The CDP award underlines our ambitions in this field,” said Hubert Fink, member of the Board of Management of LANXESS AG.

In addition, LANXESS received a B rating in the area of water management. Last year, the company set dedicated targets for sustainable water management and launched projects at the four sites in the areas with the highest water stress to strengthen sustainable water management locally.

Repeatedly recognized

The renewed inclusion in CDP’s “Climate A List” follows several positive assessments in sustainability ratings this year. In November, LANXESS was once again included in the Dow Jones Sustainability Indexes (DJSI) World and Europe. As last year, the specialty chemicals company leads the DJSI Europe in the “Chemicals” category and came second in the DJSI World.

In June, the specialty chemicals company also improved its rating in the MSCI ESG sustainability index from A to AA. The key factors here were the company’s improved water management, its good climate strategy and its commitment to chemical safety.

LANXESS also improved its EcoVadis sustainability rating to platinum level. The award is given to the top 1 percent of the 75,000 companies analyzed by EcoVadis. The driver for the higher rating was the improvement in environmental factors.

CDP: Highest transparency on environmental data

CDP, an independent nonprofit organization, aims to create global transparency on greenhouse gas emissions and the management of water resources and forests. In 2021, more than 12,000 companies submitted their data. This makes the CDP data platform one of the world’s most comprehensive sources of environmentally relevant information. The project is currently supported by more than 590 investors worldwide, who manage a total of around 110 trillion US dollars in assets.Specialty chemicals company LANXESS has once again been recognized for its achievements in the fight against climate change. In the latest assessment by the renowned climate protection initiative CDP, the Group has made it into the “Climate A List” as one of 200 companies worldwide. This puts LANXESS among the top 2 percent of the more

than 12,000 companies assessed by CDP.

The “A” rating is awarded to companies that report particularly transparently and comprehensively on their climate protection activities and also implement corresponding projects. LANXESS is on the “Climate A-List” for the fifth time this year. The Group has been disclosing climate protection-related data to CDP since 2012.

“Climate protection is a central part of the corporate strategy at LANXESS. This is reflected in our ambitious goal of becoming climate neutral by 2040. The CDP award underlines our ambitions in this field,” said Hubert Fink, member of the Board of Management of LANXESS AG.

In addition, LANXESS received a B rating in the area of water management. Last year, the company set dedicated targets for sustainable water management and launched projects at the four sites in the areas with the highest water stress to strengthen sustainable water management locally.

Repeatedly recognized

The renewed inclusion in CDP’s “Climate A List” follows several positive assessments in sustainability ratings this year. In November, LANXESS was once again included in the Dow Jones Sustainability Indexes (DJSI) World and Europe. As last year, the specialty chemicals company leads the DJSI Europe in the “Chemicals” category and came second in the DJSI World.

In June, the specialty chemicals company also improved its rating in the MSCI ESG sustainability index from A to AA. The key factors here were the company’s improved water management, its good climate strategy and its commitment to chemical safety.

LANXESS also improved its EcoVadis sustainability rating to platinum level. The award is given to the top 1 percent of the 75,000 companies analyzed by EcoVadis. The driver for the higher rating was the improvement in environmental factors.

CDP: Highest transparency on environmental data

CDP, an independent nonprofit organization, aims to create global transparency on greenhouse gas emissions and the management of water resources and forests. In 2021, more than 12,000 companies submitted their data. This makes the CDP data platform one of the world’s most comprehensive sources of environmentally relevant information. The project is currently supported by more than 590 investors worldwide, who manage a total of around 110 trillion US dollars in assets.

Business World

Dr. Reddy’s Laboratories joins Science Based Targets initiative (SBTi) and sets 2030 GHG emission targets

Oct 6, 2020 by Gouri Achary 0 Comments #(CDP), #(UNGC), #(WRI), #(WWF), #Dr. Reddy’s Laboratories Ltd, #G V Prasad, #Science Based Targets initiative’s (SBTi)

Hyderabad, India, October 5, 2020 – Dr. Reddy’s Laboratories Ltd. (BSE: 500124, NSE: DRREDDY, NYSE: RDY) has joined the Science Based Targets initiative’s (SBTi) business ambition for 1.5°C, becoming the first Indian and the third Asian pharmaceutical company to have set its Science-Based Targets to further minimize environmental impact.

The Company has committed to reducing its Scope 1 and 2 greenhouse gas (GHG) emissions by 55 percent by 2030 from a FY2017-18 base year, which are in line with the latest climate science of limiting global warming to below 1.5°C above pre-industrial levels.

G V Prasad, Co-chairman and Managing Director, Dr. Reddy’s Laboratories, said, “Continuous improvement in our environmental performance is a notable aspect of our sustainability journey. We are delighted to join SBTi in taking a science-based approach to set our GHG emission reduction targets and accelerating our efforts to creating a positive impact on our planet.”

As of FY 2019-20, Dr. Reddy’s has reduced its Scope 1 emissions by 8.6% and Scope 2 emissions by 20.7% over the baseline of FY 2017-18. The combined Scope 1 and 2 emissions have been reduced by 13% over the same base year, putting it on a fast track to achieving GHG reduction targets.

Science-Based Targets initiative (SBTi), a joint initiative of Carbon Disclosure Project (CDP), United Nations Global Compact (UNGC), World Resources Institutes (WRI) and World Wide Fund (WWF), provides companies with a clearly defined pathway to future-proof growth by specifying how much and how quickly they need to reduce their greenhouse gas emissions to limit global warming to well-below 2°C above pre-industrial levels. 472 companies have already set their targets as per SBTi. In the Pharmaceutical & Biotech sector globally, 17 companies have successfully set their emission reduction targets affirming their pledge to mitigate climate change impacts.