SEBI Disclosures: Validation of Mphasis GHG Emission Targets by SBTi

This article examines the quantitative greenhouse gas (GHG) emission reduction targets and environmental, social, and governance (ESG) metrics adopted by Mphasis Limited and validated by the Science Based Targets initiative (SBTi), as recently disclosed to the National Stock Exchange (NSE).

For company secretaries and corporate practitioners advising listed entities, the institutional verification of net-zero timelines and Scope 1, 2, and 3 emissions data sets a critical benchmark for compliance with the Business Responsibility and Sustainability Reporting (BRSR) framework mandated by the Securities and Exchange Board of India (SEBI).

The Issue Stated

Listed entities face increasing regulatory scrutiny regarding their ESG disclosures and climate commitments. The primary issue for practitioners is ensuring that corporate declarations regarding carbon neutrality and GHG emission reductions are substantiated by quantifiable metrics, anchored to a defined baseline year, and verified by recognized third-party institutions. Unverified claims expose the entity to regulatory risks under the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, particularly concerning allegations of greenwashing. The recent corporate update filed with the NSE by Mphasis Limited illustrates the standard of institutional verification and detailed metric disclosure currently expected in the market.