Persistent Achieves Carbon Neutrality a Year Ahead of Target

Aims to reach net-zero emissions by 2050

SANTA CLARA, Calif. and PUNE, India, Oct. 8, 2024 /PRNewswire/ -- Persistent Systems (BSE: 533179) (NSE: PERSISTENT), a global pioneer in Digital Engineering and Enterprise Modernization, today announced that it achieved carbon neutrality for Scope 1 (direct emissions) and Scope 2 (indirect emissions) across its global operations for FY23-24, one year ahead of schedule. Verified by DNV Business Assurance India Private Limited, this milestone underscores the Company's commitment to sustainability and its role in supporting clients' environmental goals. Aligned with the UN Sustainable Development Goals and global efforts to limit planet warming to 1.5°C and reach net-zero emissions by 2050, it further solidifies Persistent's reputation as a socially responsible enterprise.

Persistent's carbon management plan focuses on enhancing energy efficiency through investments in renewable energy and the development of energy-efficient infrastructure, certified by the Indian Green Building Council (IGBC) and Leadership in Energy and Environmental Design (LEED). The Company has made significant strides in renewable energy adoption and resource management:

• 42% reduction in emissions through two windmills (2.1 MW each) and 2 MW solar rooftops.
• 39% of total energy usage globally from renewable energy sources, with 44% in India.
• 16% of renewable energy needs are met through self-generated Renewable Energy Certificates (RECs) from its windmills.
• 45% of purchased International Renewable Energy Certificates (I-RECs) cover leased and overseas facilities.
• 99% recycling of waste generated across operations.
• 121,035 trees contributing to carbon sequestration.
• 28.3% reuse of treated wastewater in owned campuses within its facilities.

Additionally, to offset Scope 1 emissions, Persistent has invested in high-quality carbon credits certified by VERRA, while reducing Scope 2 emissions through renewable energy sourcing and the purchase of I-RECs.

Persistent is committed to driving renewable energy adoption, optimizing energy use, and working with communities to address climate change. By collaborating with employees and stakeholders, the Company embeds sustainability at the core of its operations, ensuring long-term impact. Moreover, Persistent's investments in renewable energy projects and carbon offset programs aim to reduce emissions and support environmental initiatives, with a goal to achieve net-zero emissions across its value chain by 2050, following the Science-Based Targets Initiative (SBTi) roadmap.

Dhanashree Bhat, Chief Operating Officer, Persistent:
"As the world faces increasing environmental challenges, we recognize our responsibility to contribute to a sustainable future. Our commitment to ESG (Environmental, Social, and Governance) issues goes beyond the regulatory requirements — it is a strategic, transformative journey aimed at delivering long-term value for our clients, communities, and the environment. Achieving carbon neutrality for our Scope 1 and Scope 2 emissions is a critical milestone on our path to reaching net-zero by 2050. By aligning with the GHG Protocol and the Science-Based Targets Initiative, we are ensuring that our approach is both science-based and comprehensive, enabling us to effectively reduce our environmental footprint across all emission sources and contribute to global sustainability efforts."

Sandeep Kumar Mohanty, Partner, PricewaterhouseCoopers Services LLP:
"Persistent achieving carbon neutrality is a significant achievement, especially in the current global context where environmental sustainability is a pressing need. As the world grapples with the challenges of climate change, businesses playing a proactive role in reducing their carbon footprint are crucial. By prioritizing renewable energy and adopting comprehensive carbon offset programs, Persistent demonstrates dedication to environmental responsibility and long-term sustainability."

About Persistent

Persistent Systems (BSE: PERSISTENT) (NSE: PERSISTENT) is a global services and solutions company delivering Digital Engineering and Enterprise Modernization to businesses across industries. With over 23,500 employees located in 19 countries, the Company is committed to innovation and client success. Persistent offers a comprehensive suite of services, including AI-enabled software engineering, product development, data and analytics, CX transformation, cloud computing, and intelligent automation. The Company has been recognized as the "Most Promising Company" of the Year by CNBC-TV18 at the 2023 India Business Leader Awards. As a participant of the United Nations Global Compact, Persistent is committed to aligningstrategies and operations with universal principles on human rights, labor, environment, and anti-corruption, as well as take actions that advance societal goals. 

www.persistent.com

Forward-looking and Cautionary Statements

For risks and uncertainties relating to forward-looking statements, please visit persistent.com/flcs

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