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    TCS   INE467B01029

TATA CONSULTANCY SERVICES LTD.

(TCS)
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Tata Consultancy Services : TCS Targets Net Zero Emissions by 2030

06/03/2021 | 05:29am EDT

Tata Consultancy Services to Leverage Vision 25x25, Renewable Energy and Digital Technology to Reduce Carbon Emissions by 70% by 2025, and Become a Net Zero Emitter by 2030

Tata Consultancy Services (TCS) (BSE: 532540, NSE: TCS), a leading global IT services, consulting and business solutions organization, has announced its plans to reduce its absolute greenhouse gas emissions across Scope 1 and Scope 2 by 70% by 2025 (over 2016 base year), and to achieve net zero emissions by 2030.

In its recently published Integrated Annual Report 2020-21, the company has set forth this new carbon reduction goal after having achieved the previous target of reducing its specific carbon footprint by half by 2020 (versus baseline year FY 2008), ahead of schedule. In FY 2021, TCS’ specific carbon footprint across Scope 1 and Scope 2 was lower by 61.6% compared to baseline year FY 2008.

At the core of TCS’ strategy to reduce its carbon footprint is improved energy efficiency through the addition of more green buildings to the company’s real estate portfolio, reduction of IT system power usage, and the use of TCS Clever Energy™, which leverages IoT, machine learning and AI to optimize energy consumption across campuses. TCS’ Vision 25x25 is a strategic lever that delinks TCS’ business growth from campus expansion, and brings down emissions related to employee commutes and business travel. Other elements of its net zero aspiration include greater use of renewable sources of energy and carbon removal offsets.

Our net zero goal underlines our renewed commitment to environmental stewardship. To curb emissions and limit global warming to well below 2, preferably to 1.5 degrees Celsius, compared to pre-industrial levels, all organizations will have to reimagine existing business models and aim for sustainable growth. We are in a unique position to combine our purpose-driven world view with digital innovation to not only drive our own sustainability, but also partner with customers, civil society and governments to lead and shape solutions for a sustainable future,” said N G Subramaniam, COO & Executive Director, TCS.

TCS’ environmental footprint was significantly reduced in FY 2021 due to the large-scale switch to remote working, enabled by its Secure Borderless Workspaces™ operating model. With over 97% of employees working from home throughout the year, resource consumption, emissions and wastes were significantly lower. During the year, the company’s absolute energy consumption came down by 46.6% over the prior year, and absolute carbon footprint (Scope 1 + Scope 2) by 48.8%.

TCS will also continue its efforts in water conservation and waste management through reduction and recycling initiatives. All its campuses ensure zero biodegradable waste to landfill and zero water discharge. TCS has also eliminated the use of single-use plastics across campuses and ensured the recycling of all recyclable plastic waste.

TCS is certified under the ISO 14001:2015 Environmental Management System standard, across 120 locations globally. The company was recently awarded a Gold rating in the EcoVadis 2021 Sustainability Assessment, for the eighth consecutive year. TCS outperformed its peers in all four key areas of measurement: Environment, Labor and Human Rights, Ethics, and Sustainable Procurement.

About Tata Consultancy Services (TCS)

Tata Consultancy Services is an IT services, consulting and business solutions organization that has been partnering with many of the world’s largest businesses in their transformation journeys for over 50 years. TCS offers a consulting-led, cognitive powered, integrated portfolio of business, technology and engineering services and solutions. This is delivered through its unique Location Independent Agile™ delivery model, recognized as a benchmark of excellence in software development.

A part of the Tata group, India's largest multinational business group, TCS has over 488,000 of the world’s best-trained consultants in 46 countries. The company generated consolidated revenues of US $22.2 billion in the fiscal year ended March 31, 2021, and is listed on the BSE (formerly Bombay Stock Exchange) and the NSE (National Stock Exchange) in India. TCS' proactive stance on climate change and award-winning work with communities across the world have earned it a place in leading sustainability indices such as the MSCI Global Sustainability Index and the FTSE4Good Emerging Index. For more information, visit www.tcs.com and follow TCS news at @TCS_News.

To stay up-to-date on TCS global news, follow @TCS_News.


ę Business Wire 2021
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Financials
Sales 2022 1 907 B 25 637 M 25 637 M
Net income 2022 394 B 5 293 M 5 293 M
Net cash 2022 431 B 5 788 M 5 788 M
P/E ratio 2022 30,2x
Yield 2022 2,34%
Capitalization 11 884 B 160 B 160 B
EV / Sales 2022 6,00x
EV / Sales 2023 5,31x
Nbr of Employees 488 649
Free-Float 27,8%
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Mean consensus OUTPERFORM
Number of Analysts 37
Last Close Price 3 212,85 INR
Average target price 3 485,69 INR
Spread / Average Target 8,49%
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Managers and Directors
Rajesh Gopinathan CEO, MD & Non-Independent Executive Director
Samir Seksaria Chief Financial Officer
Natarajan Chandrasekaran Non-Executive Chairman
K. Ananth Krishnan Chief Technology Officer
N. Ganapathy Subramaniam COO & Non-Independent Executive Director
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