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Mphasis Announces to Turn Carbon Neutral by 2030

01 June 20233 mins read by Angel One
The company has undertaken a high-level assessment to assess the potential impact of climate risk on its business and supply chain.
Mphasis Announces to Turn Carbon Neutral by 2030
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On Thursday, the shares of Mphasis closed at Rs 1974, up by 0.79% from its previous closing of Rs 1958.50 on the BSE. 

Mphasis, an Information Technology company, today announced a pledge to eliminate CO2e emissions from its facilities and operations to become carbon neutral by 2030. Mphasis believes carbon neutrality is an important driver of value creation and will aim to achieve its goal by implementing a well-defined energy management plan to minimize energy consumption, integrate renewable energy sources, and implement energy-efficient practices. 

The company has undertaken a high-level assessment to assess the potential impact of climate risk on its business and supply chain. Mphasis has also set a year-on-year target for the reduction of energy consumption by 5% and carbon footprint by 1% and is consistently working towards achieving the same. The company has also established a governance mechanism, to monitor and evaluate progress toward achieving its ESG objectives. 

To prioritize net zero emission, Mphasis has undertaken certain initiatives including discarding old air conditioning units with R22 refrigerants that are not ozone friendly are discarding and replacing with new air conditioning units with refrigerants R407c and R410a which are non-ozone depleting gasses resulting in greenhouse gasses emissions reduction by 55% approximately from the year 2015. 

Mphasis has also been tracking its Carbon Footprint for the past 10 years, as of now the carbon footprint has reduced by 53.75% from the year 2015. Energy consumption are being tracked for the past 15 years, and as of now energy consumption has been reduced by 47.73% from the year 2015. 

Mphasis is a global Information Technology solutions provider specializing in providing cloud and cognitive services, applying next-generation technology to help enterprises transform businesses globally. 

Today, the stock opened at Rs 1949.35 and touched a high and low of Rs 2022.35 and Rs 1949.35 respectively.  

The BSE group ‘A’ stock of face value Rs 10 has touched a 52-week high and low of Rs 2700 and Rs 1660.65, respectively. 

Last one week high and low of the scrip stood at Rs 2022.35 and Rs 1933 respectively. The current market cap of the company is Rs 37,205.60 crore. 

The promoters holding in the company stood at 55.63%, while Institutions and Non-Institutions held 38.72% and 5.65% respectively.

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