Mphasis pledges to be Carbon neutral by 2030

New York City, New York Jun 23, 2023 (Issuewire.com) - Mphasis, (BSE: 526299; NSE: MPHASIS), an Information Technology (IT) solutions provider specializing in cloud and cognitive services, today announced a pledge to eliminate CO2e emissions from its facilities and operations to become carbon neutral by 2030. Mphasis believes carbon neutrality is an important driver of value creation and will aim to achieve its goal by implementing a well-defined energy management plan to minimize energy consumption, integrate renewable energy sources, and implement energy-efficient practices.

The company has undertaken a high-level assessment to assess the potential impact of climate risk on its business and supply chain. Mphasis has also set a year-on-year target for the reduction of energy consumption by 5% and carbon footprint by 1% and is consistently working towards achieving the same. The company has also established a governance mechanism, to monitor and evaluate progress toward achieving its ESG objectives.

"We continue to see the benefits of global decarbonization. At Mphasis we are committed to reaching net-zero emissions and executing our goals guided by climate science to drive value by investing in renewable energy, efficient waste and water management, and other green initiatives.," said Nitin Rakesh, Chief Executive Officer, and Managing Director, Mphasis.

"At Blackstone, we believe that helping our portfolio companies advance their decarbonization practices can build stronger, more resilient businesses. It is encouraging to see Mphasis make this pledge," said Amit Dixit, Head of Private Equity Asia, Blackstone.

Specific initiatives undertaken by Mphasis to prioritize net zero include:

• Reduce greenhouse gas emissions: Mphasis has discarded old air conditioning units with R22 refrigerants that are not ozone friendly are discarded and replaced with new air conditioning units with refrigerants R407c and R410a which are non-ozone depleting gasses. Resulting in greenhouse gasses emissions reduction by 55% approximately from the year 2015.
• Environmental footprint: Mphasis has been tracking its Carbon Footprint for the past 10 years, as of now the carbon footprint has reduced by 53.75% from the year 2015.
• Reduction in energy consumption: Energy consumption are being tracked for the past 15 years, and as of now energy consumption has been reduced by 47.73% from the year 2015.

Mphasis also has expanded its services by partnering with clients and utilizing technology such as AI/ML, blockchain technology, and quantum computing to boost efficiency, reduce energy consumption, and lower carbon emissions from their operations. As Mphasis' Go-to-market (GTM) strategy, the company supports clients on their ESG journey in industries such as BFSI, Logistics, and Travel and offers solutions such as Green UW & Loan Lifecycle Management, Data Management & Dashboarding, AI/ML in scenario analysis to build forecasting & impact analysis models for investments & fund deployment for ESG factors.

Mphasis is committing to LEED certification for the new facilities that come up during future projects. All Mphasis facilities have also resorted to using 100% biodegradable plastic garbage bags to collect and dispose of wet waste. Mphasis has also ensured recycling of paper and E-waste to decrease and eliminate waste to achieve sustainable management processes.

Learn more about Mphasis' sustainability initiatives in the ESG Report 2021-2022

About Mphasis
Mphasis' purpose is to be the "Driver in Driverless Car" for Global Enterprises by applying next-generation design, architecture, and engineering services, to deliver scalable and sustainable software and technology solutions. Customer centricity is foundational to Mphasis, and is reflected in the Mphasis'Front2Back Transformation approach. Front2Back uses the exponential power of cloud and cognitive to provide hyper-personalized (C=X2C2TM=1) digital experience to clients and their end customers. Mphasis' Service Transformation approach helps 'shrink the core' through the application of digital technologies across legacy environments within an enterprise, enabling businesses to stay ahead in a changing world. Mphasis' core reference architectures and tools, speed and innovation with domain expertise and specialization, combined with an integrated sustainability and purpose-led approach across its operations and solutions are key to building strong relationships with marquee clients. Click here to know more. (BSE: 526299; NSE: MPHASIS)

For further information, please contact:

Mphasis Corporate Communications

Deepa Nagaraj

[email protected]

+ 1 (646) 424-5160 |+91 9845 256 283

Sumana Bhat

[email protected]

+91 9902 980 980

Media Contact

Mphasis

[email protected]

Mphasis Corporation 460 Park Avenue South Rm 1101 New York - 10016 USA

https://www.mphasis.com/