Sustainability report: LTIMindtree is 2.8 times water positive; ahead of its 2030 target

27 September 2023
2 mins read
by Angel One
LTIMindtree, a global technology consulting and digital solutions company, today announced that it has been certified as Water Positive as part of its commitment to sustainability and responsible corporate citizenship.
Sustainability report: LTIMindtree is 2.8 times water positive; ahead of its 2030 target

The company has achieved its 2030 target this year and has been provided with a 2.8 Water Positive Index, a gold standard in auditing and certification, by Green Carbon Energy & Environment Services (GCEES) for the financial year 2022- 2023.

Water shortage is a significant crisis, and solving this is one of the attainments of the United Nation’s Sustainable Development Goals (SDGs). This crisis affects the livelihood of communities and is being increasingly reported as a financial risk to organizations. According to the Water Action decade initiative 2018-2028, there will be a steep fall of around 40% in freshwater availability by 2030, which alongside a rising population will push towards a global water crisis.

Today, around 1.7 billion people live in river basins where water usage is far more than its rate of recharge. Data by the United Nations suggests that 40% of the global population is directly affected by water scarcity, and the numbers are predicted to rise in the coming years. These shortages are manifested by a lack of reliable access to safe and affordable water in many urban areas, an increased pressure on water to grow food and sustain livelihoods in rural or semi-rural areas, and a rapid deterioration of the ecosystems that in turn, supply water and depend on water for their proper functioning.

Larsen & Toubro Infotech Ltd offers an extensive range of IT services like application development, maintenance and outsourcing, enterprise solutions, infrastructure management services, testing, digital solutions, and platform-based solutions to clients in diverse industries.

The company has a market cap of over Rs 1,60,000 crore. The shares of the company have an ROE of 28.6% and a ROCE of 37.7%.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.