Infosys has committed itself to an internal greenhouse gas emission price of $10.5 per ton of CO2e fixed for two years. The move reflects its commitment to become carbon neutral by 2018, and fits into wider corporate social responsibility moves, including a switch to renewable energy, energy efficiency and offsetting carbon use.
The Carbon Pricing Leadership Coalition, an initiative launched during the COP21 in Paris, focused on advancing carbon pricing practices for government and businesses across the globe. As it stands around two thirds of governments globally and 1,200 of the world’s largest businesses have are exploring the use of various forms of carbon pricing. The mechanism has the potential to rapidly decarbonise the global economy.
In 2016 Infosys joined the CPLC, and, in a bid to further reduce the firm’s carbon footprint, and meet its commitments to the CPLC initiative, it has set itself an internal price on greenhouse gas emissions. The initiative will more effectively price one of the firm’s externalities – the internal greenhouse gas price is pegged at $10.5 per ton of CO2e, fixed for two years – into its operational costs.
Through the initiative, the firm aims to further reduce its carbon footprint, in line with reaching its target of becoming carbon neutral in 2018. The move will, according to the consulting firm, also make its internal energy use more clear – allowing it to better mitigate consumption.
The technology services giant is leveraging a range of methods to reduce its carbon dependence, including becoming more energy efficient and tapping into renewable power, while the carbon use that cannot currently be removed from its key businesses activities, is offset.
Sandeep Dadlani, President and Head of Americas, of Infosys, says, “We recognise that global warming is the biggest threat the world is facing today. We understand the significance of the 2°C global warming limit under the Paris Agreement. For Infosys, by putting a price on carbon, we have further cemented our commitment to become carbon neutral. As a responsible company, we are very proud to be one among a handful of companies in the world to announce an internal carbon price. We hope that it becomes a global movement and helps save the planet by keeping global warming under 2°C.”
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