Manufacturers Alliance Foundation and Infosys Issue Industry Progress Report on Carbon Neutral Goals
Infosys and Manufacturers Alliance Foundation released a report on May 4, 2022, examining the manufacturing sector's progress in reducing carbon emissions. The report reveals that 45% of manufacturers plan to expand their carbon initiatives, with the aerospace and automotive industries leading in emissions tracking. However, 94% of respondents find it challenging to capture product carbon footprints. Digital technologies are seen as essential for tracking emissions, with 45% already using data for monitoring. The report emphasizes the role of digitalization in achieving sustainability goals.
- 45% of manufacturers are looking to expand their carbon footprint initiatives.
- Aerospace and automotive industries are leading in emissions tracking, with over 30% of respondents monitoring all three scopes of emissions.
- Digital technologies are recognized as vital for emission tracking, with 45% of respondents currently using data to monitor emissions.
- 94% of manufacturers struggle to capture their product's carbon footprint, with only 28% having a tracking system in place.
ARLINGTON, Va., May 4, 2022 /PRNewswire/ -- Industrial companies consume over half of the energy and produce one-fifth of greenhouse gas emissions globally, giving the sector a significant opportunity to support climate initiatives. A new report from Manufacturers Alliance Foundation and Infosys (NYSE: INFY), "Delivering on Carbon Neutral Goals," outlines the progress manufacturers have made to-date on reducing carbon emissions across three scopes: direct emissions, indirect emissions from electricity purchases, and indirect emissions derived from a manufacturer's value chain. The report also shares steps on how manufacturers can move forward in reducing emissions and provides examples from manufacturing executives across sectors at various stages in their carbon neutrality journey.
"The manufacturing sector is an important player in helping reduce the global carbon footprint," notes Stephen Gold, President and CEO of Manufacturers Alliance. "This report shines a light on where U.S. manufacturers are today and how they can continue to support sustainability and growth."
Findings include:
45% of manufacturers are exploring how to expand their carbon footprint initiatives, with28% already expanding initiatives beyond factories.- The aerospace and automotive industries are ahead of the pack with over
30% of respondents, (which is more than double other industries covered in the survey), saying they are tracking across all three scopes of emissions. 94% of respondents noted that capturing a product's carbon footprint was difficult as only28% have a system in place to track the carbon footprint of their products.- Digital technologies were identified as a key resource for emission tracking, with four stages of maturity identified in the digitalization journey.
45% of respondents are already using data to track and monitor emissions.
"Providing visibility and insights from manufacturing operations data is key to accelerating progress on sustainability goals," says Jasmeet Singh, Executive Vice President and Global Head of Manufacturing, Infosys. "Digitalization tools will enable manufacturers to meet the sustainability goals while continuing to optimize performance."
About Manufacturers Alliance Foundation
Manufacturers Alliance Foundation is the 501(c)(3) partner of Manufacturers Alliance. The Alliance Foundation provides educational opportunities for the manufacturing community and its stakeholders through insights, events, and tools for today's most critical business decisions. The Alliance Foundation focuses on talent, technology, digital transformation, and competitiveness. Learn more about the Alliance Foundation: manufacturersalliance.org/foundation
About Manufacturers Alliance
Manufacturers Alliance powers leaders. We bring together an unparalleled network of manufacturing executives to advance their careers, grow their companies, and support the whole community. We accomplish our mission through peer communities, education, and business insights on the topics that matter most to the sector. Learn more: manufacturersalliance.org.
About Infosys
Infosys is a global leader in next-generation digital services and consulting. We enable clients in more than 50 countries to navigate their digital transformation. With over four decades of experience in managing the systems and workings of global enterprises, we expertly steer our clients through their digital journey. We do it by enabling the enterprise with an AI-powered core that helps prioritize the execution of change. We also empower the business with agile digital at scale to deliver unprecedented levels of performance and customer delight. Our always-on learning agenda drives their continuous improvement through building and transferring digital skills, expertise, and ideas from our innovation ecosystem.
Visit www.infosys.com to see how Infosys (NSE, BSE, NYSE: INFY) can help your enterprise navigate your next.
Safe Harbor
Certain statements in this press release are forward-looking statements intended to qualify for the 'safe harbor' under the Private Securities Litigation Reform Act of 1995, including statements concerning our future business opportunities and growth prospects. Such forward-looking statements involve a number of risks and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding fluctuations in earnings, fluctuations in foreign exchange rates, our ability to manage growth, intense competition in IT services including those factors which may affect our cost advantage, wage increases in India, our ability to attract and retain highly skilled professionals, client concentration, restrictions on immigration, industry segment concentration, our ability to manage our international operations, reduced demand for technology in our key focus areas, disruptions in telecommunication networks or system failures, our ability to successfully complete and integrate potential acquisitions, liability for damages on our service contracts, the success of the companies in which Infosys has made strategic investments, withdrawal or expiration of governmental fiscal incentives, political instability and regional conflicts, legal restrictions on raising capital or acquiring companies outside India, and unauthorized use of our intellectual property and general economic conditions affecting our industry. Additional risks that could affect our future operating results are more fully described in our United States Securities and Exchange Commission filings including our Annual Report on Form 20-F for the fiscal year ended March 31, 2021. These filings are available at https://www.sec.gov/. Infosys may, from time to time, make additional written and oral forward-looking statements, including statements contained in the company's filings with the Securities and Exchange Commission and our reports to shareholders. In addition, please note that any forward-looking statements contained herein are based on assumptions that we believe to be reasonable as of the date of this press release. The company does not undertake to update any forward-looking statements that may be made from time to time by or on behalf of the company unless it is required by law.
Media contact:
Manufacturers Alliance
Kristin Graybill
703.841.9000
news@manufacturersalliance.org
Infosys
PR_Global@infosys.com
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SOURCE Infosys
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