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Leading With Innovation
Infosys procured 44.3 per cent of its electricity requirements from renewable energy sources for all its campuses across India which is lower than its set target of 50 per cent.
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India’s second-largest technology company Infosys provides livelihood to 24,2000 employees and caters to 1,411 clients across 46 countries for digital solutions. In FY20, Infosys’ 38th year of business, the net profit of the company has increased from 14,702 crore in FY19 to 15,543 crore in FY20 with a debt to equity ratio that remains zero throughout, indicating robust financials of a company that focuses on innovation.
It has capabilities in blockchain, IoT and other emerging technologies and invests in its design capabilities along with partnerships with academic institutions. 97.5 per cent of revenues came in from repeat business indicating high service quality.
Infosys has joined RE100, a global platform for major companies committed to 100 per cent renewable power. The use of renewable energy in Infosys offices has indeed increased, driving the company closer to achieving the 2020 target of 50 per cent renewable energy in the energy mix.
In FY20, the company procured 44.3 per cent of its electricity requirements from renewable energy sources for all its campuses across India which is lower than its set target of 50 per cent.
Climate Change Strategy
Infosys’ climate change strategy focuses on three main aspects. One is reducing its operational GHG emissions through renewable energy, efficiency, green buildings and waste to energy. The second is working on low carbon technologies for communities through carbon offset projects and offset renewable energy projects. The third is reducing the emissions of its clients through technologies like automation, cloud and virtualisation. The company follows a waste-to-energy approach that focuses on optimisation, cost reduction and being environmentally friendly.
According to reports by RE100 and UNFCCC, Infosys was the first Indian IT company in 2011 to have set a carbon neutrality goal. At that time, Infosys had made a commitment to be carbon neutral by 2020 which they have now moved to fiscal 2021. In FY20, the company was able to reduce its per capita electricity consumption by 0.02 per cent only as against the target set of 2 per cent reduction. As part of its decarbonisation strategy, Infosys has set an internal carbon price of $14.25 per tonne of Carbon Dioxide. For its competitor, TCS, this price was set at $16,51 per tonne of Carbon Dioxide.
CSR & Diversity
Infosys integrates sustainable development goals such as poverty alleviation, gender equality and economic opportunity with its focus on climate action. The company has been creating a positive impact in rural communities by initiating one of the largest household biogas projects in India. In diversity, the average number of women employees in Infosys is 38 per cent as compared to 34 per cent of IT companies in India. The company also reported that 89 per cent of women returned to work after their maternity leave. This is an important statistic because it highlights the opportunities for equal career growth and women- friendly policies at the workplace. Infosys has also committed to be an inclusive workplace for members of the LGBTI+ community.