42 Sustainability Report 2021 Climate Transition | Driving Sustainability in Our Own Business Early last year and in conjunction with the announcement of our long-term commitment to align our financing activities with a net zero by 2050 pathway, we expanded our operational carbon neutrality commitment with a goal to achieve net zero carbon emissions in our operations and supply chain by 2030. Our net zero carbon strategy focuses on five key areas across our operations and supply chain. These five key areas include increasing energy efficiency in our buildings, sourcing renewable energy, engaging with our vendors, encouraging behavior change among our people, and purchasing carbon offsets for the emissions that we cannot reduce. Increasing energy efficiency in our buildings is paramount to our net zero journey. To do this, we have continued to focus on reducing our energy consumption through LEED certified smart building design and upgrading equipment to maintain ongoing operational efficiency. We also continue to source renewable energy for 100% of our electricity use. In the past year, we signed long-term solar power purchase agreements, which will position us to achieve our 2025 target of sourcing 80% of our renewable energy from long- term, impactful agreements. Engaging with our vendors is an important step in addressing Scope 3 supply chain emissions and is critical to achieving our 2030 net zero carbon commitment. In 2021, to facilitate dialogue with our vendors around their own emissions management programs, we joined CDP Supply Chain as a lead member. Through this program, we engaged with vendors representing a majority of our supply chain emissions to gain a better understanding of their GHG emissions and climate actions. We also integrated standard climate-related RFP and vendor assessment questions in our sourcing and vendor review processes. Combined, this information will allow us to build further dialogue with our vendors to support and catalyze their own decarbonization journeys. Supporting behavior change among our people will contribute to reducing our firm’s emissions footprint by making more sustainable choices in how we work and travel. In Bengaluru, we introduced 40 electric vehicles to our employee commutation program, and we plan to increase this to 150 in the coming year. As part of a developing Green Traveler program, we are exploring ways to provide increased internal transparency on business travel and commuting impacts, which will help our people understand how their actions can support our efforts. We also recognize that a portion of our journey to net zero will require investments in carbon removal offsets to neutralize the emissions we are unable to eliminate through the four strategies above. This has presented an opportunity to partner with our financing and global markets groups to explore carbon removal projects and bring new solutions to the market that we and our clients can leverage. With an increase in corporate net zero commitments over the last year, demand for carbon removal has risen faster than existing projects can supply. Through collaboration, we hope to support the nascent carbon project market challenges by connecting corporate needs and available capital, while navigating developing standards, regulations, and transparency. Driving Sustainability in Our Own Business Our Net Zero Journey: Incremental Progress CLIMATE TRANSITION 42