Mphasis achieves top quartile in global ESG ratings

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.