Tata Communications emissions reduction targets validated by the SBTi

Tata Communications, the leading global commtech (communications technology) player, announces that its emissions reduction targets have been officially validated by the Science Based Targets initiative (SBTi), the independent global organisation that has enabled businesses to define and promote best practice in emissions reductions and targets in line with the latest climate science.

The SBTi is focussed on accelerating companies across the world to halve emissions before 2030 and achieve net-zero emissions before 2050.

The SBTi has assessed and verified Tata Communications near-term targets to reduce scope 1 and 2 GHG emissions by 42% in absolute terms by FY30 from a FY22 base year. Tata Communications also committed to bringing down its scope 3 GHG emissions by 25% in absolute terms in the same timeframe. GHG emissions reduction targets are considered to be "science-based" if they are in line with what the latest climate science says is necessary to meet the goals of the Paris Agreement, the international treaty on climate change to limit global warming to well-below 2°C above pre-industrial levels and pursue efforts to limit warming to 1.5°C.

A.S. Lakshminarayanan, MD & CEO, Tata Communications said: "The approval of our targets by the SBTi represents a key milestone in our sustainability journey, a transformative shift in our corporate DNA. With practical, measurable objectives we aim to foster a future where technological advancement harmonises with environmental stewardship. By embracing the SBTi's target-setting criteria, we are not merely pledging allegiance to a cause; we are catalysing a global movement towards a more sustainable future."

In April 2023, Tata Communications officially outlined its sustainability targets through its 3C Sustainability Strategy, setting out to achieve them through focussed Climate Action, Customer Green House Gas emission Savings and Circular Economies in India. It included:

- Reducing water consumption by 20% by FY30, with the aim of eventually becoming water neutral

- Sending zero waste to landfill by FY27, whereby the waste is either reused, recycled or composted

- Enabling customers to reduce their greenhouse gas emissions from 6x to 20x by FY27

Tata Communications 3C sustainability strategy has been inspired by the United Nations Sustainable Development Goals and the Tata Group Sustainability Strategy, with the intent to create shared value for all. Tata Communications has also been recognised by the global environmental non-profit Carbon Disclosure Project with the distinguished 'A-' leadership score for implementing current best practices in sustainability.

Shares of Tata Communications Limited was last trading in BSE at Rs. 1911.80 as compared to the previous close of Rs. 1908.90. The total number of shares traded during the day was 36783 in over 2295 trades.

The stock hit an intraday high of Rs. 1930.60 and intraday low of 1902.00. The net turnover during the day was Rs. 70588260.00.

Source : Equity Bulls

Keywords

TataCommunications INE151A01013 EmissionsReduction Target Validation SBTi