Mphasis (BSE: 526299; NSE: MPHASIS), an information technology (IT) solutions provider specializing in cloud and cognitive services, today announced its featured in the top quartile across several global industry rankings and assessments in ESG in FY 22-23. The company has been acknowledged by S&P Global, EcoVadis Sustainability Rating and CRISIL ESG Score for its ongoing commitment to upholding standards in Environment, Labor and Human Rights, Corporate Governance, Business Ethics, and Climate Strategy.
The ratings reflect our focus on implementing responsible human rights and governance practices, as well as sustainable initiatives. Our commitment to these principles is reflected in the high ESG industry ratings in:
· The S&P Global ESG Score of 64/100 revealing heavy weightage in Governance and Economic & Social category
· The CRISIL Sustainability report featuring under the ‘Strong’ category with a score of ~66 demonstrating remarkable improvement in Governance and Environment scores
· Bronze medal (54/100) in the 2023 EcoVadis Sustainability Rating showcasing significant improvement across Sustainable procurement practices and ethics.
Mphasis has secured high scores in S&P Global ESG rating, achieving a strong performance in the Governance and Economic Dimension with a score of 73. This is further complemented by strong scores in the Social (60) and Environmental (54) Dimensions, reaffirming Mphasis’ diligence in corporate and economic governance. Furthermore, Mphasis has been awarded a 54/100 score (bronze medal) by EcoVadis and ‘Strong’ category rating in the CRISIL Sustainability report as well.
“We are determined in our commitment to sustainable growth, simultaneously achieving both business success and societal well-being. The improved scores are a testament to our relentless efforts and commitment, reflecting the collective dedication of the Mphasis team. As we acknowledge these accomplishments, we perceive them not only as milestones but also as motivation to consistently elevate our performance across diverse ESG dimensions. This includes fostering financial stability, upholding social responsibility, and practicing effective corporate governance,”said Nitin Rakesh, Chief Executive Officer, and Managing Director, Mphasis.
Some of Mphasis’ key ESG highlights for FY 2023 are:
- Mphasis is now a signatory of the United Nations Women Empowerment Principles and has three women (25%) representing the company’s board
- 35.1% of Mphasis’s workforce comprises women
- Investment over INR 323.98 million in community and social projects
- Fulfills 48% of their energy needs in India through renewable energy and has witnessed an increase of 148.69% in total waste recycled in 2023
- Increased the procurement spend on local suppliers globally from 92% to 99% in FY 2023
- A 10% increase in diversity hiring in the past year
- Supports three technology-focused partnerships across universities and institutions in India to engage in cutting-edge research and development, exploring new technologies and solutions.
Mphasis is committed to achieving sustainability across diverse dimensions and reinforcing proactive efforts to alleviate the impact on education, livelihood, environment, and inclusion. In line with this commitment, earlier this year, Mphasis pledged to achieve carbon neutrality by 2030, vowing to eliminate CO2e emissions from its facilities and operations, with a reduced carbon footprint of 53.75% from FY15 to FY23.
About S&P Global ESG Score
The S&P Global ESG Score measures a company’s performance on and management of material ESG risks, opportunities, and impacts informed by a combination of company disclosures, media and stakeholder analysis, modeling approaches (prior to the 2023 CSA, the S&P Global ESG Score did not contain any modeling approaches), and in-depth company engagement via the S&P Global Corporate Sustainability Assessment (CSA). The S&P Global ESG Score is a relative score measuring a company’s performance on and management of ESG risks, opportunities, and impacts compared to their peers within the same industry classification.
About EcoVadis
EcoVadis’ business sustainability ratings are based on international sustainability standards such as the Ten Principles of the UN Global Compact, the International Labour Organization (ILO) conventions, the Global Reporting Initiative (GRI) standards and the ISO 26000 standard. The ratings provide an evidenced-based analysis on performance and an actionable roadmap for continuous improvement.
Learn more at EcoVadis.com/suppliers
About CRISIL
CRISIL, is an Indian analytical company providing ratings, research, and risk and policy advisory services. CRISIL is the largest and first credit rating agency in India. Formerly known as Credit Rating Information Services of India Limited and is a subsidiary of American company S&P Global. In April 2005, US based credit rating agency S&P acquired the majority shares of company.
About Mphasis
Mphasis’ purpose is to be the “Driver in a 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 it is reflected in Mphasis’ Front2Back™ Transformation approach. Front2Back™ uses the exponential power of cloud and cognitive computing to provide a 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)
