Science Based Targets Initiative (SBTi) Approves Hexaware’s Near-Term and Net-Zero Targets

The Science Based Targets initiative (SBTi), dedicated to corporate climate action, has evaluated Hexaware’s targets according to its Net-Zero Standard Criteria and Near-Term Target Criteria.

The SBTi develops standards, tools, and guidance that enable organizations to set greenhouse gas (GHG) emissions reduction targets and achieve net zero by 2050. Science-based targets provide a clear framework for companies to determine the pace and extent of their GHG emissions reductions to mitigate severe climate impacts. 

Hexaware’s targets include: 

1. Overall net-zero target: We commit to achieving net-zero greenhouse gas emissions across the value chain by 2040. 
2. Near-term targets: By 2030, we commit to reducing absolute scope 1 and 2 GHG emissions by 42% from a 2023 baseline and scope 3 GHG emissions by 51.6% per employee.
3. Long-term targets: By 2040, Hexaware aims to cut absolute scope 1 and 2 GHG emissions by 90% from the 2023 baseline and reduce scope 3 GHG emissions by 97% per employee.

“SBTi aligns with our mission to drive measurable climate actions and reduce our carbon footprint,” said Uma Thomas, Chief Risk Officer, Hexaware.

About Hexaware 

Hexaware is a global technology and business process services company. Every day, Hexawarians wake up with a singular purpose; to create smiles through great people and technology. With offices across the world, we empower enterprises worldwide to realize digital transformation at scale and speed by partnering with them to build, transform, run, and optimize their technology and business processes.

“Hexaware Technologies Limited (the “Company”) is proposing, subject to receipt of requisite approvals, market conditions and other considerations, to make an initial public offer of its equity shares and has filed a draft red herring prospectus dated September 6, 2024 (“DRHP”) with the Securities and Exchange Board of India (SEBI). The DRHP is available on the websites of our Company, at www.hexaware.com, SEBI at www.sebi.gov.in as well as on the websites of the book running lead managers, Kotak Mahindra Capital Company Limited, Citigroup Global Markets India Private Limited, J.P. Morgan India Private Limited, HSBC Securities and Capital Markets (India) Private Limited, and IIFL Securities Limited, at https://www.investmentbank.kotak.com, https://www.online.citibank.co.in/rhtm/citigroupglobalscreen1.htm, https://www.jpmipl.com, https://www.business.hsbc.co.in/en-gb/regulations/hsbc-securities-and-capital-market, and https://www.iiflcap.com respectively, and the websites of the stock exchange(s) at https://www.nseindia.com and https://www.bseindia.com, respectively. Any potential investor should note that investment in equity shares involves a high degree of risk and for details relating to such risk, see “Risk Factors” of the RHP, when available. Potential investors should not rely on the DRHP for any investment decision.”

Learn more about Hexaware at https://www.hexaware.com

Safe Harbor Statement

Certain statements in this press release concerning our future growth prospects are forward-looking, which involve numerous risks and uncertainties that could cause actual results to differ materially from those in such statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding fluctuations in earnings, our ability to manage growth, intense competition in IT services including those factors which may affect our cost advantage, wage increases globally, 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 Hexaware has made strategic investments, withdrawal of governmental fiscal incentives, political instability, legal restrictions on raising capital or acquiring companies outside India, and unauthorized use of our intellectual property and general economic conditions affecting our industry.

For more information, contact:
Reena Kamble
Hexaware Technologies Limited
reenak3@hexaware.com

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