Wipro to reach Net-Zero Greenhouse Gas Emissions by 2040
Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO), a leading global information technology, consulting and business process services company, today announced its commitment to achieving Net-Zero Greenhouse Gas (GHG) emissions by 2040 in line with the objective of the Paris Agreement to cap temperature rise to 1.5°C.
Wipro, while unveiling its pledge on Earth Day, also set an intermediate target of a 55 percent reduction in GHG emissions by 2030 in absolute emission levels compared to its base year of 2016-17 (April-March).
These targets are based on the globally accepted Science Based Targets initiative (SBTi) and reflect the deep decarbonization and operational changes Wipro will drive within its value chain to achieve Net-Zero within 2040.
Wipro will also defer offsets until the target year, underscoring its values-driven strategy and approach. The primary levers of decarbonization drive are:
Improving the energy efficiency of facilities for a sustained reduction in energy consumption.
Increasing use of renewable energy in owned facilities in India through private power purchase agreements and captive solar power.
Combining behavioral, technological, and collaborative approaches that help reduce the carbon footprint of air travel, commuting and purchased goods and services.
Over the last two decades, Wipro has steadily reduced its energy, water, waste footprint, and bio-diversity impact and remains steadfast in its commitment to a more sustainable, just and equitable society.
Wipro has always taken pride in being a responsible citizen of the world by engaging with its key stakeholders like customers, partners, vendors, employees and investors and by being an involved participant in finding solutions for important ecological and social issues in our communities and civil society.
Rishad Premji, Chairman, Wipro Limited said, “Climate change is a defining challenge for humanity. Business must be at the forefront to address it. Wipro’s climate change program goes back nearly two decades, and our Net-Zero goal further reaffirms our commitment. Our approach emphasizes the importance of not just reaching that goal, but doing so in a way that is aligned with Wipro’s core values of integrity and business responsibility.”
Thierry Delaporte, CEO and Managing Director, Wipro Limited said, “Wipro has long since built ecological sustainability into its operations, and ways of working. Today we are committing to accelerate our actions to achieve net-zero, and the deep decarbonization efforts required to get there. We believe businesses like us have a significant role to play in achieving the global Greenhouse Gas reduction targets.”
Wipro is committed to helping its customers realise their Net-Zero goals by working collaboratively and leveraging its technology and domain expertise in many areas of climate change like GHG assessment, Climate and Net-Zero Strategy, and sourcing and supply chain strategy, among others.
The company has made significant progress in shaping and delivering “Green IT solutions” for high carbon-intensive sectors like Energy & Utilities, Manufacturing, Transportation and Consumer Goods. Helping customers exit their data centres, driving virtualization and public cloud adoption, smart grids, waste management, sustainable sourcing and packaging etc., are a few examples of such solutions.
Wipro is among the nine founding members of the ‘Transform to Net Zero (TONZ)’ coalition. Convened by Microsoft, the coalition includes some of the world’s largest companies, representing combined annual revenues of USD 500B and assets worth USD 800B. Wipro and the TONZ Coalition is committed to minimizing climate impact by helping members calibrate their Net-Zero goals and strategy and developing best practice assets.
About Wipro Limited
Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO) is a leading global information technology, consulting and business process services company. We harness the power of cognitive computing, hyper-automation, robotics, cloud, analytics and emerging technologies to help our clients adapt to the digital world and make them successful. A company recognized globally for its comprehensive portfolio of services, strong commitment to sustainability and good corporate citizenship, we have over 190,000 dedicated employees serving clients across six continents. Together, we discover ideas and connect the dots to build a better and a bold new future.
The forward-looking statements contained herein represent Wipro’s beliefs regarding future events, many of which are by their nature, inherently uncertain and outside Wipro’s control. Such statements include, but are not limited to, statements regarding Wipro’s growth prospects, its future financial operating results, and its plans, expectations and intentions. Wipro cautions readers that the forward-looking statements contained herein are subject to risks and uncertainties that could cause actual results to differ materially from the results anticipated by such statements. Such risks and uncertainties include, but are not limited to, risks and uncertainties regarding fluctuations in our earnings, revenue and profits, our ability to generate and manage growth, complete proposed corporate actions, intense competition in IT services, our ability to maintain our cost advantage, wage increases in India, our ability to attract and retain highly skilled professionals, time and cost overruns on fixed-price, fixed-time frame contracts, client concentration, restrictions on immigration, our ability to manage our international operations, reduced demand for technology in our key focus areas, disruptions in telecommunication networks, our ability to successfully complete and integrate potential acquisitions, liability for damages on our service contracts, the success of the companies in which we make strategic investments, withdrawal of fiscal governmental incentives, political instability, war, legal restrictions on raising capital or acquiring companies outside India, unauthorized use of our intellectual property and general economic conditions affecting our business and industry. The conditions caused by the COVID-19 pandemic could decrease technology spending, adversely affect demand for our products, affect the rate of customer spending and could adversely affect our customers’ ability or willingness to purchase our offerings, delay prospective customers’ purchasing decisions, adversely impact our ability to provide on-site consulting services and our inability to deliver our customers or delay the provisioning of our offerings, all of which could adversely affect our future sales, operating results and overall financial performance. Our operations may also be negatively affected by a range of external factors related to the COVID-19 pandemic that are not within our control. Additional risks that could affect our future operating results are more fully described in our filings with the United States Securities and Exchange Commission, including, but not limited to, Annual Reports on Form 20-F. These filings are available at www.sec.gov. We may, from time to time, make additional written and oral forward-looking statements, including statements contained in the company’s filings with the Securities and Exchange Commission and our reports to shareholders. We do not undertake to update any forward-looking statement that may be made from time to time by us or on our behalf.
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