Qure.ai Technologies Limited is committed to achieving Net Zero Emissions by 2050
Baseline Emissions Footprint
Baseline emissions are a record of the greenhouse gases that have been produced in the past and were produced prior to the introduction of any strategies to reduce emissions. Baseline emissions are the reference point against which emissions reduction can be measured.
BASELINE YEAR: H1 FY24
Qure.ai Technologies Limited is incorporated in the UK in 2021 and has not published carbon emissions for the years FY22 and FY23. Qure UK is a fully owned subsidiary of Qure.ai India. Qure India has started assessing carbon emissions from FY24 and have published our first Carbon
Reduction Plan for H1 FY24.
Regarding scope 1 emissions, Qure.ai's services are directly delivered on AWS as a software. So, technically we have Zero scope 1 emissions at this point of time.
Baseline year emissions (H1 FY24)
Current Year Emissions Reporting (Same as baseline year emissions)
Emissions Reduction Targets
Qure.ai is a growing organisation and has been expanded rapidly in the last 5 years. We went from less than 30 employees and 10 deployments in 2017 to more than 300 employees and 1600+ sites across 80+ countries by 2023. This depicts the rate at which Qure is growing and we have been aggressively investing in human and technical resources. We can foresee Qure growing at this pace for the next 5 years and expecting a net positive carbon emissions.
However, Qure is committed to Net Zero carbon emissions and have started implementing multiple sustainable and eco-friendly initiatives across various business operations.
Carbon Emission Projection: H1 FY29
During the next 5 years we will introduce the following ESG initiatives:
- Sustainable Transportation Choices: Qure.ai encourages employees to adopt sustainable commuting habits, such as car-pooling, using public transportation, and opting for trains instead of flights for short inter-city travel. These choices not only reduce carbon emissions but also alleviate traffic congestion and contribute to cleaner air in our communities.
- Efficient Business Travel Management: In our commitment to reducing our carbon footprint, we are implementing measures to stabilize business travel. We achieve this by facilitating most conversations through video conferencing and adopting effective project management strategies. This approach helps minimize unnecessary travel, saving both time and resources.
- Global Hiring for Local Impact: To further limit the need for extensive global travel, we strategically hire talent across countries. This approach enables us to conduct important customer meetings and interactions without the environmental impact associated with long-distance travel. By leveraging local expertise, we maintain a global presence while reducing our carbon footprint.
- Waste Reduction Initiatives: We have instituted waste reduction programs that encourage recycling, composting, and the responsible disposal of electronic waste. These initiatives help decrease the environmental impact of our operations.
Our Carbon Reduction Targets
- We plan to reduce carbon emissions of Scope 3 from 2028 to 2033 by almost 50% by sustainable travel and global hiring.
- Assuming that Qure’s customers grows at 5x between 2028 and 2033 and overall GPU computing becomes even more efficient and expecting 20% less costs. Also Qure investing in data servers using renewable energy by upto 50%.
- Maintaining the same level of emissions from scope 3.
- Qure will aim to become Carbon neutral by 2050.
Plan to reduce carbon emissions
Carbon Reduction Projects
Activities which qure will take up:
1. Renewable-Powered Data Servers: Qure.ai is committed to sustainability by investing in data servers powered by renewable energy sources. This strategic choice significantly reduces our scope-2 carbon footprint.
2. Sustainable Procurements: We actively engage with vendors who share our mission of achieving carbon neutrality by 2050,ensuring that our supply chain aligns with our environmental goals.
3. Green Travel and Commute: We promote sustainability by encouraging electric and renewable energy sources for employee travel and commuting, thereby reducing our carbon emissions.
4. Solar-Powered Office: Qure.ai is taking steps to make one of its offices run entirely on solar energy, contributing to clean and green operations.
5. Eco-Friendly Technology: In our pursuit of environmental responsibility, we invest in eco-friendly technologies to power our computing infrastructure, making a positive impact on the environment.
6. Employee Engagement: To foster a culture of sustainability, we conduct training sessions to educate employees about the importance of environmental stewardship. We encourage employees to propose green initiatives and practices, making sustainability a part of our organizational DNA.
7. Carbon Offset Initiatives: In our commitment to carbon reduction, we invest in carbon offset projects, such as reforestation and renewable energy initiatives. We also explore partnership opportunities with environmental organizations and join carbon offset programs to contribute to a greener planet.
Establishing Our ESG Core Team
At Qure.ai, we consider sustainability to be more than a mere buzzword. It's a fundamental commitment that we are passionate about. To ensure that our dedication to Environmental, Social, and Governance (ESG) principles goes beyond empty rhetoric and transforms into impactful actions, we have established our ESG Core Team. The idea behind this team was to incorporate sustainability practices into our operational fabric, as envisioned by our leadership.
The ESG Core Team comprised of cross-functional experts from our executive leadership team pledges to reduce our carbon footprint, champion ethical and responsible business practices, and promote a culture of inclusivity and equity. This is the start of a journey toward a sustainable and equitable future, with the ESG Core Team leading the way and ensuring that every step we take embodies ESG values.
Currently, the key commitee members include:
1. Bhargava Reddy, Chief Operating Officer
2. Anushree Saha, General Counsel & Company Secretary
3. Sonu Vijan, AVP, Travel & Admin
4. Anurag Sharma, Manager, Legal Affairs and Strategy
5. Bunty Kundnani, Chief Regulatory Officer
6. Dhruv Shah, Director, Business Intelligence & Operations
7. Divya Gupta, Chief Growth Officer
8. Poonam Ajgaonkar, Chief People Officer
9. Saniya Pawar, VP, Impact & Evidence
- Reducing Voluntary Turnover Rate: This social goal is aimed at retaining talent within the organization, reducing the need for employees to seek opportunities elsewhere. It involves the implementation of measures such as improved work-life balance, skill development programs, and recognizing and rewarding employee contributions. By lowering the voluntary turn overrate, we not only retain valuable experience and expertise but also send a message that we value our employees and their well-being.
- Promoting Access to Healthcare in Underserved Communities: This goal is centered on Qure.ai's commitment to making healthcare accessible, not only to our clients but to underserved communities as well. It involves initiatives such as partnerships with community healthcare providers, donation of equipment or services, and involvement in medical camps. By promoting healthcare access in underserved areas, we contribute to a more equitable society and demonstrate our dedication to the broader community.
- Encouraging Community Service Among Qure Employees: This social goal focuses on fostering a culture of giving back. Encouraging employees to engage in community service not only benefits the community but also enhances team morale and builds a sense of social responsibility. It could encompass initiatives such as paid time off for volunteering, company-wide volunteer events, or donation matching programs.
- Promoting Diversity and Inclusion: Diversity is a cornerstone of a modern, inclusive workplace. This goal involves creating an environment where all individuals, regardless of their background, feel valued and included. It includes measures such as diversifying hiring practices, creating diverse talent pipelines, and implementing training programs to combat unconscious biases. Promoting diversity and inclusion enhances creativity, innovation, and overall company performance.
- Training and Development: This goal highlights the importance of nurturing and upskilling our employees. A well-trained workforce is not only more productive but also more satisfied. Training and development initiatives can encompass various skills, from technical to soft skills. They empower employees to grow within the organization, take on new challenges, and develop a sense of belonging and career progression.
- Ensuring Supplier Compliance with Qure ESG Standards: This involves setting and maintaining high environmental, social, and governance (ESG) standards for the suppliers and partners that Qure.ai collaborates with. It may require thorough due diligence in assessing potential suppliers, implementing supplier codes of conduct, and ongoing monitoring. The goal is to ensure that suppliers align with Qure's values and commitments in areas such as sustainability, ethical business practices, and social responsibility.
- Regular Reporting: Regular reporting is an essential aspect of Qure.ai's ESG strategy. This involves the collection, analysis, and presentation of data related to ESG performance. It's not just about tracking progress but also about transparency and accountability.Reporting may cover areas like carbon emissions, diversity and inclusion metrics, community engagement initiatives, and more.These reports serve multiple purposes, from showcasing achievements to identifying areas for improvement and providing stakeholders with information they need to make informed decisions.
- Management Goals: This practice ties a portion of executive compensation, specifically variable pay, to the achievement of ESG-related objectives. These objectives could include targets related to reducing the company's carbon footprint, increasing diversity within the workforce, or meeting specific social impact goals. Linking ESG performance to executive pay creates a powerful incentive for top management to prioritize ESG initiatives, aligning personal financial interests with the company's broader environmental and social responsibilities. It's a way to drive meaningful change from the topdown.
This Carbon Reduction Plan has been completed in accordance with PPN 06/21 and associated guidance and reporting standard for Carbon Reduction Plans.
Emissions have been reported and recorded in accordance with the published reporting standard for Carbon Reduction Plans and the GHG Reporting Protocol corporate standard 13 and uses the appropriate Government emission conversion factors for greenhouse gas company reporting.
Scope 1 and Scope 2 emissions have been reported in accordance with SECR requirements, and the required subset of Scope 3 emissions have been reported in accordance with the published reporting standard for Carbon Reduction Plans and the Corporate Value Chain (Scope 3) Standard.
This Carbon Reduction Plan has been reviewed and signed off by
Mr. Bhargava Reddy, Chief Operating Officer, Qure.