In a bid to further increase its sustainability efforts, STL has 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 per cent 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. Eight out of STL’s 11 global plants are now zero waste and siz are zero liquid discharge plants. STL has increased indigenous sustainable procurement in cable manufacturing from 55 per cent in FY 21 to 61 per cent in FY 22 and recycled over 1,45,000 m3 of water at its facilities.
Now with SBTi, STL will join a stellar group of approximately 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 approximately 2 per cent of the global carbon output, 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 visualise 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 organisation, STL is in absolute sync with the ethos of SBTi.
Commenting on the 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.”