HCLTech on Thursday announced it has been recognized by globally-renowned research and ratings agencies for its strong environmental, social and governance (ESG) performance, the company announced through an exchange filing. These recognitions underscore the significant progress made by HCLTech in implementing its corporate sustainability vision.
MSCI has rated HCLTech as an ESG 'Leader' in the software and services industry. The MSCI ESG ratings evaluated 8,500 companies on their exposure to industry-material ESG risks and their ability to manage those risks relative to peers. The ratings range from leader, average to laggard. This year the company has been recognised as a leader with AA ratings, a significant move up from its last years 'A' rating.
The coverted S&P Global Sustainability Yearbook 2023 has recognized HCLTech as an 'Industry Mover'. The Yearbook lists leading companies that have demonstrated sustainable business practices in their operations. THe assessment is based on S&P's rigorous Corporate Sustainability Assessment framework. For the 2023 edition, over 7,800 companies across 61 industries were analyzed by S&P.
HCLTech has also been included in Sustainalytics' 2023 Top-Rated ESG Companies list in the Software and Services Industry segment and in the Asia Pacific Region. HCLTech has been placed in the 'low-risk' category by Sustainalytics in an assessment of 15,000+ companies globally based on their ESG performance.
"Sustainability is at the core of HCLTech's business strategy and we are committed to supercharging progress for clients, our people, communities and the planet. These recognitions are a strong endorsement of our sustainability agenda and the execution strategy of our teams," said C Vijayakumar, CEO and Managing Director, HCLTech.
The company aims to achieve a net-zero emission target by 2040 and a reduction of 50 per cent on absolute scope 1 and 2 emissions by 2030. The company also targets to transition 80 per cent of its electricity through renewable energy by 2030. Last year, the company launched its sustainability school, delivering a learning series of climate change for its 222,000+ employees.
HCLTech has also made demonstrable progress on its sustainability commitments and continues to create and deliver technology-led sustainable solutions to clients and purposefully contribute to the communities to make a positive impact on people and planet.
