STL commits to Science-based Targets Initiative (SBTi), as part of its goal to be Net-Zero by 2030
MUMBAI, India, March 6, 2023 /PRNewswire/ — In a bid to further increase its sustainability efforts, STL (NSE: STLTECH), a leading optical and digital solutions company, today announced the adoption of Science-based Targets initiative (SBTi), for more transparent and granular carbon monitoring, control, and disclosure. STL is now among the 0.01% of the Indian companies that have committed to SBTi. This underscores the company’s bold ambition to become Net-Zero by 2030 and drive towards UN Sustainable Development Goals.
Since STL announced its Net-Zero ambition, the company has accomplished some significant milestones. 8 out of STL’s 11 global plants are now Zero Waste and 6 are Zero Liquid Discharge plants. STL has increased indigenous sustainable procurement in cable manufacturing from 55% in FY21 to 61% in FY22 and recycled over 1,45,000 m³ of water at its facilities.
Now with SBTi, STL will join a stellar group of ~4,500 companies globally to decarbonise at scale in a target-based manner. These targets will be published on the SBTi website following validation, triggering an iterative annual disclosure procedure. This will ensure an entirely new dimension of transparency to STL’s sustainability initiatives.
Internet and digital networks are responsible for ~2% of the global carbon output[1], thereby significantly contributing to global climate change. SBTi is a global body enabling businesses to assess the complexity of ICT and quantify its impact on the environment. It helps them to visualize how quickly they need to shrink their carbon footprint to avert the climate change fallouts and set realistic emissions reduction targets. As a sustainability-first organization, STL is in absolute sync with the ethos of SBTi.
Commenting on this achievement, Ankit Agarwal, Managing Director, STL, said: “Our purpose of ‘Transforming Billions of Lives by Connecting the World’ serves as a north star for our ESG efforts. Adopting SBTi will definitely reinforce STL’s sustainability commitment as we always believe in setting targets and measuring them scientifically. At the same time, we also hope to encourage and motivate our peers to take equally bold transformation measures that can have a net positive impact on the present climate realities.”
About STL – Sterlite Technologies Ltd:
STL is a leading global optical and digital solutions company providing advanced offerings to build 5G, Rural, FTTx, Enterprise and Data Centre networks. Read more, Contact us, stl.tech | Twitter | LinkedIn | YouTube
[1] According to a study by the Boston Consulting Group
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