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Tech Mahindra has announced that it has achieved formal validation for its Net-Zero targets by the Science Based Targets initiative (SBTi). This recognition underscores Tech Mahindra’s commitment to the ambitious 1.5°C trajectory and its innovative initiatives to address global climate change.
With this milestone, Tech Mahindra becomes the first Mahindra Group company to secure SBTi validation for its Net-Zero goals, joining an elite group of very few Indian companies whose targets have been approved. Tech Mahindra’s sustainability initiatives have already delivered measurable results with renewable energy now accounting for 31% of energy consumption at owned locations and 22.96% globally as of 2024. Further, Scope 1 and Scope 2 emissions have been reduced by over 31% in 2024, compared to the baseline year 2016.
Net-Zero Targets:
- Overall Net-Zero Target: Tech Mahindra commits to reach net-zero greenhouse gas emissions across the value chain by FY 2035.
- Near-Term Targets: Tech Mahindra commits to reduce absolute Scope 1 and 2 GHG emissions 58.8% by FY 2030 from FY 2016 as base year.
- Long-Term Targets: Tech Mahindra commits to reduce absolute Scope 1 and 2 GHG emissions 90% by FY 2035 from FY 2016 as base year. Tech Mahindra also commits to reduce absolute scope 3 GHG emissions 90% by FY 2035 from FY 2020 as base year.
Sandeep Chandna, Chief Sustainability Officer, Tech Mahindra, said, “Most of the new Request for Proposal (RFP) by various businesses globally are now making SBTi-approved targets a mandatory requirement. Achieving SBTi validation for our Net-Zero targets is a step forward in aligning with global sustainability standards. We remain dedicated to embedding sustainability into the fabric of our operations while enabling our customers to achieve their ESG objectives through innovation and technology.”
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