HCLTech, a global technology corporation, recently announced that it had been recognised by leading research and rating organisations for its environmental, social, and governance (ESG) performance.
MSCI has rated HCLTech as an ESG ‘Leader’ in the software and services industry. Compared to their peers, the MSCI ESG ratings analysed over 8,500 companies’ exposure to ESG risks related to their industry and their ability to mitigate them.
The ratings vary from ‘leader’ (AAA, AA) to ‘average’ (A, BBB, BB) (B, CCC). HCLTech was recognised as a leader this year with a “AA” rating, significantly improving over last year’s “A” rating.
In addition, HCLTech was named an ‘Industry Mover’ in the prestigious S&P Global Sustainability Yearbook 2023. The Yearbook recognises prominent businesses that have implemented sustainable business practices. The evaluation is based on S&P’s comprehensive Corporate Sustainability Assessment framework. For the 2023 edition, S&P examined nearly 7,800 companies across 61 industries.
Sustainalytics’ 2023 Top-Rated ESG Companies ranking for the Software and Services Industry and the Asia Pacific Region also includes HCLTech. Sustainalytics evaluated over 15,000 firms worldwide based on their ESG performance and assigned HCLTech to the ‘low-risk’ category.
HCLTech is committed to reaching net-zero emissions by 2040 and lowering absolute scope 1 and 2 emissions by 50% by 2030. The company also intends to switch to renewable energy sources for 80% of its electricity by 2030.