Mindtree among 24 leading corporates featured in a special IIFL Securities report on ESG

“Mindtree continues to broaden and deepen its ESG framework with a long-term view of the future”: IIFL Securities

Mindtree is one of 24 companies from diverse industry sectors — and the only IT services company — to be featured in a special report by IIFL Securities, one of India’s largest full-service stockbrokers, on how leading corporates are incorporating Environmental, Social, and Governance (ESG) monitoring and performance into their operations and leadership KPIs to drive gains.

IIFL Securities sent a set of questions to more than 100 corporates and has included responses from 24 of those companies in this report. Titled “Enabling Sustainable Growth: What are the companies doing?”, the report notes, “Mindtree’s ESG initiatives include spearheading green tech innovation to help mitigate climate change, setting up a dedicated council to promote diversity, equity and inclusion, driving CSR initiatives aimed at pandemic relief, and enforcing ESG criteria across the supply chain through relevant clauses in supplier contracts. The company continues to broaden and deepen its ESG framework with a long-term view of the future.”

Citing examples of Mindtree’s ESG focus, the report states, “Mindtree’s innovative measures towards the Environment have resulted in a steady dip in its per capita resource consumption over the last eight years. In FY21, 75% of its energy consumption was from renewable sources, its Bengaluru locations have stopped external sourcing of water while its Pune office is now a zero-water discharge location and 95% of its waste was recycled in FY21.”

It adds, “Diversity & Inclusion, Mindtree Foundation-led CSR initiatives, volunteering initiatives led by Mindtree Minds and initiatives towards pandemic relief activities have been the focus under the Social aspect. Highest governance standards are driven through diverse and inclusive board, strong ethics and risk management and focus on data privacy. Strong recognition for these efforts from various bodies lends credibility to the ESG focus of the company.”

In response to one of IIFL Securities’ questions, Mindtree says, “The triple bottom line of People, Planet and Profit has been integral to our 4*4*4 strategy. We track and measure our dedicated focus on these initiatives by way of outcome KPIs, which are reported as part of our sustainability report.”

“Strong governance has been a cornerstone of investing and has always been supplemented by focus on managing interests of other stakeholders to ensure sustainability and longevity of business,” the report observes. “With environmental damage and its repercussions becoming serious by the day for governments and broader society, we are now witnessing ESG issues taking center-stage in business operations in terms of both managing the associated risks but also to create a differentiation vs. peers globally.”

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