Stock in Action – Cyient Ltd

"Cyient and Thales Join Forces: A Green Partnership for a Sustainable Tomorrow"

In a significant move towards environmental stewardship, global digital and engineering solutions company, Cyient, and technology leader Thales have joined hands to combat climate change. The partnership, marked by a Letter of Intent (LoI), was formalized during a ceremony on the sidelines of Thales' 70th anniversary in India. This collaboration underscores a shared commitment to a low-carbon future and sets the stage for a brighter and more sustainable tomorrow.

I. The Climate Action Pact:

Cyient and Thales have pledged to work together on climate change initiatives across their business value chains.
Thales, a key player in defense, security, aeronautics, space, and digital identity, is actively engaging with strategic suppliers to achieve ambitious CO2 reduction targets validated by the SBTi and aligned with the Paris Agreement.

II. Thales' Green Objectives:

Thales aims for a 50% reduction in absolute CO2 emissions from operational processes (Scope 1) and energy consumption (Scope 2).
An additional target includes a 15% reduction in CO2 emissions related to its supply chain and customer product use (Scope 3).
The ultimate goal is to achieve net-zero operations-related CO2 emissions (Scopes 1 and 2) by 2040.

III. Cyient's Commitment to Sustainability:

Cyient, known for its digital and engineering prowess, is aligning its strengths with Thales in a shared vision for a low-carbon future.
The company has consistently championed eco-friendly practices, including the elimination of plastic usage, tree plantation drives, efficient waste management, and rainwater harvesting.

IV. The Collaborative Approach:

Thales emphasizes a proactive and responsible approach to environmental protection, involving key suppliers to reduce carbon footprints in their respective value chains.
Cyient, through its Environmental, Social, and Governance (ESG) roadmap, collaborates with clients and suppliers to integrate innovation and environmental responsibility.

V. Achievements and Future Initiatives:

Cyient's shares have seen remarkable milestones, breaking the ₹1,000 mark earlier this year and reaching a record high of ₹1,945 in September.
Both companies aim to realize their shared commitment through dedicated initiatives, with a focus on Cyient's facilities in Hyderabad, Mysore, and Bangalore.

VI. Thales' Supplier Engagement:

Thales has taken a proactive approach, reviewing and approving action plans of over 150 of its major suppliers, outlining measurable goals and timelines for carbon emission reduction.
More than 100 suppliers have pledged support for Thales's carbon footprint trajectory.

The Cyient-Thales partnership signifies a crucial step towards integrating innovation and environmental responsibility for a sustainable future. As both companies strive to meet and exceed their carbon reduction targets, the collaboration sets an inspiring example for businesses worldwide. It's not just a partnership; it's a commitment to a shared vision of creating a world where technology and environmental consciousness go hand in hand. In the realm of finance, such initiatives signal a growing trend of socially responsible investments and a focus on sustainable practices for long-term value.