Company Recognized with A- Score for its Ongoing Efforts
SOUTHBOROUGH, Mass., Jan. 26, 2022received an A- score for its climate change response from the Carbon Disclosure Project (CDP), placing the company in the overall Leadership band. Virtusa was among the top scoring companies for climate change in the IT and software development sector, which had an average score of "C."
Overall, Virtusa was recognized for its actions to cut emissions, mitigate climate risks, and develop the low-carbon economy based on data reported by the company through CDPs 2021 climate change questionnaire. Virtusa scored high in CDPs report due to numerous ESG achievements, including:
- Governance structure in place to support its ESG program.
- Emissions reduction initiatives such as investment in energy-efficient lighting and improved HVAC systems.
- Investment in renewable energy where Virtusa invested $1 million on solar energy in 2021.
Virtusa's environmental management system, internally branded as Code Green, comprises three pillars: operating energy efficient facilities that reduce our environmental footprint, reducing the environmental footprint of software developed for clients, and utilizing energy efficient technologies. Currently Virtusa is exploring the possibility of aligning its emissions reduction targets with science-based targets/net-zero. Apart from emissions reduction activities, Virtusa has initiatives for water and waste management with plans to increase rainwater harvesting capacity in 2022 and targets to achieve zero e-waste to landfill. Virtusa's overall ESG framework focuses on health and safety, business continuity management, information security, labor standards and diversity, anti-bribery and corruption, and management engagement and social impact.
"Virtusa has achieved this high score as a result of our team's personal conviction to protecting the planet, as their dedication and sense of purpose continues to shine on a daily basis," said Denver De Zylva, Virtusa Senior Vice President of Shared Services. "This is a testament to the strong foundation we built in managing our environmental footprint, and further highlights our commitment to embedding the 10 UN Global Compact Principles in our operations and contributing to the Sustainable Development Goals. Our ESG governance and short-, mid- and long-term emissions reductions targets, along with our investment in renewable energy, all helped Virtusa achieve this score."
"Companies have a vital role to play in addressing the climate crisis, and the first crucial step is for businesses to disclose environmental data and impacts through CDP," said Simon Fischweicher, Head of Corporations and Supply Chains, CDP North America. "We congratulate Virtusa on earning an A- for its climate change disclosure in 2021. Virtusa has demonstrated strong environmental action and we look forward to seeing the company continue to set and deliver on ambitious sustainability goals."
CDP Methodology
CDP's annual environmental disclosure and scoring process is widely recognized as the gold standard of corporate environmental transparency. In 2021, more than 590 investors with over $110 trillion in assets and 200 major purchasers with $5.5 trillion in procurement spend requested companies to disclose data on environmental impacts, risks and opportunities through CDP's platform. A record-breaking 13,000 companies responded.
A detailed and independent methodology is used by CDP to assess these companies, allocating a score of A to D based on the comprehensiveness of disclosure, awareness and management of environmental risks and demonstration of best practices associated with environmental leadership, such as setting ambitious and meaningful targets. Those that don't disclose or provided insufficient information are marked with an F.
About Virtusa
Virtusa Corporation is a global provider of digital business strategy, digital engineering, and information technology (IT) services and solutions that help clients change, disrupt, and unlock new value through innovative engineering. Virtusa serves Global 2000 companies in the Banking, Financial Services, Insurance, Healthcare, Communications, Media, Entertainment, Travel, Manufacturing, and Technology industries.
Virtusa helps clients grow their business with innovative products and services that create operational efficiency using digital labor, future-proof operational and IT platforms, and rationalization and modernization of IT applications infrastructure. This is achieved through a unique approach blending deep contextual expertise, empowered agile teams, and measurably better engineering to create holistic solutions that drive the business forward at unparalleled velocity enabled by a culture of cooperative disruption.
Virtusa is a registered trademark of Virtusa Corporation. All other company and brand names may be trademarks or service marks of their respective holders.
