HCLTech Earns Global Recognition for ESG Performance
HCL Technologies Limited
HCLTech, a leading technology firm operating worldwide, recently announced its recognition by prominent research and ratings agencies for its commendable environmental, social, and governance (ESG) performance. These acknowledgements affirm the substantial strides HCLTech has taken in realising its corporate sustainability vision.
HCLTech has been rated as an ESG 'Leader' in the software and services industry by MSCI. The MSCI ESG ratings assessed over 8,500 companies on their exposure to ESG risks related to their industry and their ability to manage those risks in comparison to their peers.
The ratings range from 'leader' (AAA, AA), 'average' (A, BBB, BB), to 'laggard' (B, CCC). This year, HCLTech has been recognised as a leader with an “AA” rating, a significant improvement from last year's “A” rating.
Furthermore, HCLTech has been identified as an 'Industry Mover' in the prestigious S&P Global Sustainability Yearbook 2023. The Yearbook lists leading companies that have demonstrated sustainable business practices in their operations. The assessment is based on S&P's robust Corporate Sustainability Assessment framework. S&P analysed over 7,800 companies across 61 industries for the 2023 edition.
HCLTech has also been featured in Sustainalytics' 2023 Top-Rated ESG Companies list in the Software and Services Industry and the Asia Pacific Region. Sustainalytics assessed over 15,000 companies worldwide based on their ESG performance and placed HCLTech in the 'low-risk' category.
“Sustainability is at the core of HCLTech’s business strategy, and we are committed to supercharging progress for clients, our people, communities, and the planet. These recognitions are a strong endorsement of our sustainability agenda and the execution strategy of our teams,” said C Vijayakumar, CEO & Managing Director, HCLTech.
HCLTech's sustainability strategy centres on three core principles: ACT, PACT, and IMPACT. The company strives to act responsibly and sustainably, maximise resource efficiency, work collaboratively with clients, partners, and communities to secure a sustainable future, and focus on creating a sustainable impact through all initiatives and activities.
HCLTech is committed to achieving a net-zero emissions target by 2040 and reducing absolute scope 1 and 2 emissions by 50% by 2030. The company also aims to transition 80% of its electricity to renewable energy sources by 2030. To promote climate change awareness, the company introduced its sustainability school last year, offering a learning series to its 222,000+ employees.
HCLTech has made significant strides toward fulfilling its sustainability goals and continues to leverage technology to provide sustainable solutions to clients and contribute to communities positively, ultimately making a difference for people and the planet.