UnearthInsight, a market intelligence firm has proposed a report showing a striking 85% drop in carbon emissions during FY21. The emission is 0.3 million tonne, against about 2 million tonne which was the level before the pandemic.
The report estimates an expenditure of $750 million on travel cost in FY21 compared to $2.9 billion in FY20 by outsourcing industry. Top five IT services companies – Tata Consultancy Services (TCS) Ltd, Infosys Ltd, HCL Technologies Ltd, Wipro Ltd, and Tech Mahindra Ltd – have spent 75% less in FY21 compared FY20 primarily reducing carbon emission as an outcome of domestic and international travel and commute to work as well.
Gaurav Vasu, founder & CEO, UnearthInsight, said, “The outsourcing Industry was on track for the adoption of hybrid working models, electric mobility even before covid however the pandemic and quick adoption of digital tools/technology has dramatically changed the scenario and today carbon emission reduction looks sustainable over a longer period of time.”
“Covid-19 disruption also made the largest industry players move from pilot to large-scale deployment of technologies like digital campus hiring platforms which helped significantly reduce carbon emission earlier generated by travel to over 1000+ campuses across the country,” UnearthInsight added.
