India, September 28, 2023: LTIMindtree [NSE: LTIM, BSE: 540005], 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. 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 percent in freshwater availability by 2030, which alongside of 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 percent 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.
“At LTIMindtree, our Environmental, Social & Governance (ESG) vision reflects our commitment to environmental stewardship, talent development, and community care while pursuing sustainable growth. Our goals are aligned to those of United Nations’ SDGs as we understand the environmental and economic impact that the impending crises can cause. Our efforts have been continuous and consistent, and we are honored to be certified as a Water Positive organization. We will continue our present initiatives and bring in newer ones to make a significant impact on the environmental crises,” said Paneesh Rao, Chief Sustainability Officer, LTIMindtree.
LTIMindtree aligns its sustainability goals and targets with UN SDGs and is consciously working on Sustainable Development Goal 6, indicating targets viz. 6.3, 6.4, 6.5, and 6.6 comprising of improving water quality, wastewater treatment, and safe reuse, increasing water-use efficiency and ensuring freshwater supplies, implementing Integrated Water Resources Management, and protecting and restoring water-related ecosystems.
LTIMindtree has year-on-year targets to maintain water neutrality and positivity for its office locations pan India. Various initiatives in line to mitigate the water usage and balance and surpass it effectively are – reducing freshwater consumption, increasing usage of recycled water, establishing rainwater harvesting in the LTIMindtree campuses, and constructing water harvesting structures for the community, which supports farming by increasing crop for two cycles thereby increasing income of farmers too. The freshwater consumption for all LTIMindtree locations is 2,08,974 KL, whereas the water conservation achieved through in-situ rainwater harvesting and community water conservation projects is 5,86,079 KL. This highlights a positive margin between the generation of harvested rainwater and consumption, contributing to the overall Water Positivity goal.
LTIMindtree’s assessment and certification by GCEES fulfill the requirements of ISO 14046:2014 (Environmental Management-Water footprint – principles, requirements, and guidelines). The study is a standalone assessment and not a part of a life cycle assessment, fulfilling the requirements of ESG and SROI principle. LTIMindtree will continue striving to grow its water positive status throughout its sustainability journey.