Climate Change Data

Environmental Metrics

ESG Focus Areas

• Energy Transition
• Skill Development
• Environment Management
• Sustainability Reporting
• Climate Change mitigation & Adaptation
• Carbon Neutrality & Net Zero
• Carbon Credits & Trading
• UN’s Sustainable Development Goals

Environmental Achievements

• Reduced carbon footprints by taking energy conservation measures
• Reduced travel, both because of local commuting and air travel, resulting in a lower carbon footprint
• Upgradation of ACs from R-22 gas to energy-efficient Inverter based ACs using environment-friendly gases R-32/R-410/R 407 C
• LEDs in place of CFLs
• Ozonators in ACs
• Setting optimum temperature settings for ACs
• Upgradation of ACs to better VRV technology
• Energy saving measures from design stage (double wall construction, low-e glass, maximum use of natural light and ventilation, underdeck insulation)
• Installed Water Efficient Low flow water taps
• Updated EHS (Environment Health and Safety) Policy
• Usage of Renewable energy for self-use
• SBTi (Science Based Target initiative) registered company committed to reduce Scope 1&2 emissions by 46% by 2030 from 2019 level and measure and reduce scope 3 emissions
• Following ISO 14064: 2018
• Environment Laboratory ISO certified by ISO 45001:2018

Social Achievements

• 14% of women employees
• Work life balance ensured with comprehensive employee welfare policies
• Imparting training to nurture talent
• Vaccination drives for employees and family
• Work from Home (WFH) facility during the pandemic
• Compulsory Learning and development (L&D) sessions for each employee
• Employees contributing regularly for Tree Plantation
• Zero Accidents till date in our entire Organization
• Trained 17,741 participants under various sponsored and non-sponsored training programmes

Governance Achievements

• Strong Adherence to Code of Conduct
• Sufficient Number of Independent Directors on Board
• Communication & training about Anti-Corruption policies and procedure
• Established policies and committees to deal with different corporate governance issues

Climate Goals & Targets

Environmental Challenges

• Volatile global political and economic scenario
• Restrictions on global mobility, location strategies
• Currency volatility
• Non-compliance with changing regulations
• Talent Management and Succession Planning
• Climate Change & Environment Footprint
• Waste management
• Health, Safety and Wellbeing
• Environment
• Social: Inclusion & Diversity

Mitigation Strategies

• Established a robust enterprise risk and compliance management framework
• Internal Risk Management Committee
• Metrics developed by Human Resource Team and consultations with employees
• Focus on employee retention through different planned initiatives
• Business Continuity Plan to ensure business execution
• Registered to Science-Based Targets initiative (SBTi)
• Installation of solar rooftop and utilization of daylight
• Initiatives to reduce/replace the printing of papers, plastic cups, & water bottles
• Investment in employee capability enhancement
• Promotion of mental health and wellbeing
• Access to wellbeing programs (care and dignity policy, WFH, flexi-hours)
• Incorporating ESG risks into the ERM program
• Supplier engagement plan to support reduction of scope 3 emissions
• Targets for 5% year-over-year increase in representation of women and underrepresented groups
• Evaluation of I&D risks

Supply Chain Management

Climate-Related Risks & Opportunities

Physical Risks

• Extreme weather conditions
• Disruption of operations

Opportunities

• Decarbonization of Energy, Transportation and Industry

Reporting Standards

Frameworks Used: BRSR, SBTi, ISO 14064:2018, ISO 45001:2018

Certifications: ISO 9001:2015, ISO 45001:2018

Environmental Metrics

ESG Focus Areas

• Energy Transition
• Environment Management
• Skill Development
• Corporate Governance

Environmental Achievements

• Reduced carbon footprints by taking energy conservation measures. Reduced travel due to video conferences and public transport.
• Introducing Electric Vehicle for Local Transportation of Employee, which reduced 3.5 tCO2 emissions for FY 22 -23.
• Usage of Renewable energy for self-use, installed rooftop solar for captive consumption, which reduced 40 tCO2 emissions for FY 22-23.
• Upgradation of ACs: Existing AC’s based on R-22 gas replaced with energy efficient Inverter based ACs based on environment friendly gases R-32/R-410/R 407 C.
• SBTI (Science Based Target initiative) registered company recognized on August 8, 2021, where we have committed to reduce our Scope-1&2 emissions to 46% by 2030 from 2019 level and also committed to measure and reduce scope-3 emissions.

Social Achievements

• Special project on “Operation Parivartan” is implemented at Solapur for the 200 ladies involved in making illicit liquor (Ha th Bhatti) and brought them in the mainstream of society. They have started their enterprise in the textile sector and now some of the group of ladies has received International orders.
• Received Vanyajeev award from Forest department Government of Maharashtra for exemplary work in conservation of forest and wildlife in Tadoba Andhari Tiger Reserve.
• Conducted challenging Skill development training programme for SC, BPL, ITI passed candidate in rural area of Madhya Pradesh with Tangible outcome of 82% placements under wage employment scheme of Government of MP.
• Special project of Holy city development was concluded in Pandharpur sponsored by NIESBUD, Ministry of Skill & Entrepreneurship Development, Government of India. Under this we have developed 300 new entrepreneurs, and provided technology intervention, capacity development and established forward backward linkages to 400 existing enterprises. In all we supported 700 entrepreneurs.

Governance Achievements

• Complied with all the applicable requirements stipulated under Regulations 17 to 27 read with Schedule V of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“Listing Regulations”).
• The Company has all the required policies for the time being in force and as required under the Companies Act, 2013 and SEBI LODR Regulations, 2015 to protect and safeguard the interest of the employees.

Climate Goals & Targets

Environmental Challenges

• Risks related to markets in which we and our clients operate
• Financial stability of our clients may be affected owing to several factors such as demand and supply challenges, currency fluctuations, regulatory sanctions, geo-political conflicts and other macroeconomic conditions which may adversely impact our ability to recover fees for the services rendered to them.
• Intense competition in the market for engineering consultancy services could affect our win rates and pricing, which could reduce our market share and decrease our revenues and our profits.
• Risks related to the investments we make for our growth
• Our business will suffer if we fail to anticipate and develop new services and enhance existing services in order to keep pace with rapid changes in technology and in the industries on which we focus.
• We may engage in acquisitions, strategic investments, strategic partnerships or alliances or other ventures that may or may not be successful.
• Risks related to our cost structure
• Our expenses are people centric and fixed in nature, which could cause fluctuations to our profitability.
• Any inability to manage our growth could disrupt our business, reduce our profitability and adversely impact our ability to implement our growth strategy.
• Risks related to our employee workforce
• Our success depends largely upon our highly skilled professionals and our ability to hire, attract, motivate, retain and train these personnel.
• Our success depends in large part upon our management team and key personnel and our ability to attract and retain them.
• Risks related to our contractual obligations
• Some of our failure to complete fixed-price and fixed-timeframe contracts, or transaction-based pricing contracts, within budget and on time, may negatively affect our profitability.
• Some of our client contracts can typically be terminated without cause, which could negatively impact our revenues and profitability.
• Some of our client contracts are often conditional upon our performance, which, if unsatisfactory, could result in lower revenues than previously anticipated.
• Our work with governmental agencies may expose us to additional risks.
• Risks related to our operations
• Our reputation could be at risk and we may be liable to our clients or to regulators for damages caused by inadvertent disclosure of confidential information and sensitive data.
• Our reputation could be at risk and we may be liable to our clients for damages caused by cyber security incidents.
• We may be the subject of litigation which, if adversely determined, could harm our business and operating results.
• Our insurance coverage may not be adequate to protect us against all potential losses to which we may be subject, which could adversely affect our business.
• The markets in which we operate are subject to the risk of earthquakes, floods, tsunamis, storms, pandemics and other natural and manmade disasters.
• The safety of our employees, assets and infrastructure may be affected by untoward incidents beyond our control, impacting business continuity or reputation.
• Climate change risks are increasingly manifesting in our business as strategic risks, physical risks and transitional (market and compliance) risks, which if not managed adequately, can affect our operations and profitability.
• Risks related to legislation and regulatory compliance
• New and changing regulatory compliance, corporate governance and public disclosure requirements add uncertainty to our compliance policies and increase our costs of compliance.
• Changes in the policies of the government of India or political instability may adversely affect economic conditions in India generally, which could impact our business and prospects.

Mitigation Strategies

• Established a robust enterprise risk and compliance management framework and process to ensure achievement of its strategic objectives.
• This process is enabled by an internal Risk Management Committee and compliance with it enables a more holistic approach towards informed decision making.
• Four-pronged strategy to strengthen our relevance with clients and drive accelerated value creation: Scale Agile Digital, Energize the core, Reskill our people, Expand localization.
• Continually invest in employee capability enhancement
• Continue to promote mental health and wellbeing for all employees
• Ensure all employees have access to wellbeing programs such as care and dignity policy, WFH, flexi-hours etc.
• Continue incorporating ESG risks into the ERM program.
• Develop a supplier engagement plan to support reduction of our scope 3 emissions.
• commitment to the Science-Based Targets initiative (SBTi).

Supply Chain Management

Climate-Related Risks & Opportunities

Physical Risks

• Extreme weather conditions

Transition Risks

• Regulatory changes

Opportunities

• Decarbonization of Energy, Transportation and Industry

Reporting Standards

Frameworks Used: BRSR, SBTi

Certifications: ISO 9001:2015, ISO 45001:2018

Awards & Recognition

• Vanyajeev award

Environmental Metrics

ESG Focus Areas

• Climate Change
• Diversity
• Governance
• Sustainability
• Renewable Energy
• Biofuels
• Green Chemistry
• Skill Development
• Environment Management
• Carbon Credits

Environmental Achievements

• Not disclosed

Social Achievements

• Trained more than 25 Lakh individuals under various Government & Non-Government Skill Development & Entrepreneurship Programs with record 75% placements.

Governance Achievements

• Not disclosed

Climate Goals & Targets

Environmental Challenges

• Litigations
• Disruption of operations at Solar Plants and Solar Park
• Untraceable documents pertaining to certain litigations
• Potential unsuccessful Front End Engineering Design Development (FEEDD)
• Under utilization of power generation capacity
• Failure to obtain, retain and renew approvals and licenses
• Inability to sufficiently obtain, maintain, protect, or enforce intellectual property rights
• Delayed compliance with regulatory filings
• Expired lease agreements for some premises
• Failure to maintain quality of services
• Delayed compliance with SEBI regulations
• Inability to attract or retain qualified personnel
• Negative cash flows in previous years
• Existing and potential future indebtedness
• Contingent liabilities
• Employee misconduct, errors or fraud
• Related party transactions
• Broad discretion in applying Net Proceeds
• Lack of independent verification of industry data
• Non-payment of dividends in the past two years

Mitigation Strategies

• Devoting management and financial resources to legal proceedings
• Implementing measures to manage Solar Plants and Park operations
• Incorporating traced documents into the Letter of Offer
• Careful planning and strategy for FEEDD
• Investment in subsidiary company to utilize Solar Park capacity
• Ensuring compliance with regulations and obtaining necessary approvals
• Protecting intellectual property through registration and enforcement
• Taking steps to rectify delayed compliance
• Initiating the process of renewing lease agreements
• Maintaining quality control processes
• Improving internal controls and compliance
• Attracting and retaining employees through compensation and benefits
• Generating sufficient cash flows
• Managing indebtedness through prudent financial practices
• Managing contingent liabilities through proactive measures
• Implementing measures to prevent and detect employee misconduct
• Conducting related party transactions on arm’s length basis
• Utilizing Net Proceeds according to a well-defined plan
• Conducting independent research and verification
• Evaluating dividend payments based on financial performance

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement

• Not disclosed

Climate-Related Risks & Opportunities

Physical Risks

• Extreme weather conditions

Transition Risks

• Regulatory changes

Opportunities

• De-carbonization of Energy, Transportation and Industry
• Commitment to Science Based Targets initiative (SBTi)

Reporting Standards

Frameworks Used: GRI, SASB, TCFD, TNFD

Certifications: ISO 9001:2015, NABL, ISO 45001:2018

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

• Not disclosed

MITCON's work contributes to various SDGs

Sustainable Products & Innovation

• Not disclosed

Awards & Recognition

• Not disclosed