Energy Efficiency and Waste Management: Key Highlights from KFin Technologies' Sustainability Report

KFin Technologies Limited is one of the leading companies in the financial services segment and has published a Business Responsibility and Sustainability Report for the financial year 2023-24. Through the report, the company showcases its commitment to sustainability by covering various diversified subjects about the environment, social issues, and governance (ESG). This paper has considered the same based on statistics and initiatives explained in detail in the report, showing how KFin Technologies is acting responsibly and sustainably.   Energy Consumption KFin Technologies has declared significant data on its energy consumption for FY 2023-24. It consumed a total of 14,480.61 GJ from non-renewable sources, an increase over the consumption of 12,677.74 GJ in FY 2022-23. The energy intensity per million rupee of turnover was 1.78 GJ/million INR as against the previous year's 1.79 GJ/million INR. The energy intensity adjusted for PPP reached 40.8 GJ/million INR against 41.65 GJ/million INR in the previous year. These numbers are indicative of the ongoing efforts of the company in efficient management of its energy usage. Water Consumption The data on water consumption shows a fall in total usage. Groundwater withdrawal by the company was 5,815.57 kiloliters against 4,475.8 KL, while third-party water usage fell drastically to 628.67 KL from 2,983.8 KL. Water intensity in terms of total water use per million rupees of turnover was 0.79 KL/million INR, down from 1.03 KL/million INR in the previous year. PPP adjusted, this intensity was 18.18 KL/million INR against 24.51 KL/million INR. Both these numbers suggest that the company is serious about water conservation. Greenhouse Gases The company has reduced greenhouse gas emissions since the reported statistics are encouraging. Scope 1 emissions were 15.88 metric tons of CO2 equivalent, down from 24.80 metric tons. Scope 2 emissions were relatively flat at 2,867.25 metric tons of CO2 equivalent, versus 2,829.80 metric tons. The total Scope 1 and 2 emission intensity per million rupee of turnover was 0.35 Mt/million INR, down from 0.40 Mt/million INR. The same was 8.13 Mt/million INR, adjusted for PPP, against 9.37 Mt/million INR in the previous year, thereby reducing the same, thus evidencing the commitment of KFin Technologies toward its initiatives of bringing down its carbon footprint. Waste Management The report goes on to furnish details of waste management through statistics, focusing on recycling and proper disposal. The company generated 3.62 metric tons of e-waste in FY 2023-24, down from 10.8 metric tons. Paper wastage was 40.47 metric tons against 68.13 metric tons earlier. The intensity in terms of waste generated per million rupees of turnover was much lower at 0.005 as compared to 0.018 a year ago. Adjusted for PPP, it was 0.12 as compared with 0.42 a year ago. The total waste recycled was 44.09 metric tons; thus, the company's sound management practices in this area ensured a high percentage of its waste was being gainfully used. Air Emissions There is data for different pollutants, including NOx, which is expressed at 177 mg/Nm³; SOx, at 32.2 mg/Nm³; particulate matter at 42.1 mg/Nm³; VOCs at 1.2 mg/Nm³; and carbon monoxide, at 21 mg/Nm³. These indicators describe some of the activities of the firm as far as monitoring and control of its emissions are concerned. Water and Waste Management Practices Because of the nature of its business, the company does not discharge any untreated effluent. Effective systems are put in place for the proper disposal of waste. The report indicates a commitment to reducing the use of harmful and toxic chemicals, though the company does not manufacture such chemicals. Sustainability Initiatives and Policies Some of the major initiatives and policies about sustainability that KFin Technologies has put in place include the use of energy-efficient technologies and renewable sources of energy that help reduce energy consumption. In an equal measure, it ensures efficient water usage to conserve it. The reduction of greenhouse gas emissions is considered a high order in its strategy, coupled with efficient waste management. Governance and Compliance The company has strived to comply with all the applicable environmental legislation and standards according to its reporting. Through periodic assessments and audits, compliance is guaranteed, which reflects a sound governance framework. The policies of the company have incorporated almost all the principles under the National Guidelines on Responsible Business Conduct. Such policies include ethics, transparency, accountability, human rights, and stakeholder engagement. Employee and Community Engagement KFin Technologies provides details of employee engagement, which includes the number of employees, gender distribution, and details of differently abled employee information. It also captures its corporate social responsibility activities and sustainability initiatives like promoting education, preventive health care, sanitation, ecological balance, and animal welfare. Conclusion KFin Technologies Limited's Business Responsibility and Sustainability Report for FY 2023-24 gives the overall scenario of commitment to sustainability by the company. These detailed statistics and efforts toward these Sustainable Development Goals indicate serious efforts in managing energy consumption, water usage, GHG emissions, and waste. At KFin Technologies, the approach to governance, compliance, and employee and community engagement highlights the wholesome nature of responsible business practices. With continuous improvement in sustainability performance, KFin Technologies makes its mark among companies in the financial services sector. Source: BRSR Credit: KFin Technologies Limited