Airtel forms ESG Committee to sharpen its focus on sustainable business

The telecom major has formed a committee of board of directors (“ESG Committee”) to sharpen its focus towards its Environmental, Sustainability and Governance (ESG) agenda.

The ESG Committee will provide strategic guidance and oversight to the company’s progress on ESG targets, initiatives and best practices. This will also include initiatives to respond to challenges posed by climate change through sustainable business practices.

Manish Kejriwal, lead independent director on the board will be the chairman of the ESG Committee. Other board members on the committee are D.K. Mittal, independent director; Nisaba Godrej, independent director; Rakesh Bharti Mittal, non-executive director and Gopal Vittal, managing director & CEO (India and South Asia).

Airtel is already aligned to the Paris Climate Accord. It is committed to reduce absolute scope 1 and 2 Green House Gas (GHG) emissions 50.2% by FY2031 from FY2021 as base year. Airtel also commits to reduce absolute scope 3 GHG emissions 42% over the same timeframe. Airtel will achieve this through multiple interventions including accelerated green energy adoption across its network operations, energy efficient infrastructure and processes as well as implementing sustainable business practices at its workplaces.

Sunil Bharti Mittal, chairman, Bharti Airtel said: “Businesses have the responsibility to sharpen their ESG agendas to contribute to the global efforts to combat climate change and ensure inclusive growth. Airtel has always set high standards of corporate governance, transparency and has proactively laid out a comprehensive ESG roadmap. This empowered committee ensures that ESG is a priority for the Board in order to create long-term value for all stakeholders through sustainable business practices.”

Bharti Airtel posted a consolidated net profit of Rs 1,134 crore in Q2 FY22 as against a consolidated net loss of Rs 763.2 crore registered in Q2 FY21. The telecom operator posted quarterly revenues of Rs 28,326 crore, rising 18.8% year on year on comparable basis and 13% YoY on a reported basis, backed by strong performance delivery across the portfolio.

Bharti Airtel is a global communications solutions provider with over 480 million customers in 17 countries across South Asia and Africa. The company ranks amongst the top three mobile operators globally and its networks cover over two billion people.

Shares of Bharti Airtel were down 0.58% at Rs 739 on the BSE. Capital Market