Board's Report
2. Fractal’s continued commitment towards ESG responsibilities by way of corporate social responsibility initiatives at Fractal Fractal CSR outreach: Fractal contributed C 6,003,055.50 ( C 6 M) for FY 2023-2024. This amount was greater than the mandatory required deployment of C 5,207,292 ( C 5.2 M).
Few of the highlights in the areas of environmental stewardship, education, women empowerment, healthcare, and safe housing solutions are listed below.
Fractal’s continued commitment towards Environment, Social and Governance (ESG) responsibilities including environmental stewardship at Fractal. Fractal’s Corporate Social Responsibility (CSR) philosophy centres around making a positive impact on people, the planet that we share, and the communities that Fractal is honoured to operate in. Fractal CSR thrust areas include i) enhancing equitable educational outcomes for disadvantaged children, ii) empowering women to be financially independent and iii) improving quality & affordability of healthcare, safe housing solutions. Fractal is also committed to climate action in line with UN SDG 13 and understands the importance of setting and monitoring science-based Net Zero targets. As part of its commitment to sustainable ESG practices, Fractal is focused on establishing robust governance structures that encompass ESG related matters. We understand the significance of high-level leadership in driving meaningful change and have continued integration of ESG practices, including environmental sustainability into our business strategy, And Fractal continues to assess the required investments to get to Net Zero. The following milestones underscore Fractal’s commitment to intelligent and responsible climate action, in alignment with the UN Sustainable Development Goal (SDG) 13 on Climate Action. 1. Fractal has developed and published its ESG Policy that represents the Environmental, Social & Governance (ESG) commitments and aspirations of Fractal. a. Fractal commits to initiating implementation of the ESG and sustainability commitments across all offices and business operations in a strategic and phase-wise manner to ensure management of risks and to add value for all stakeholders. b. Fractal aspires to set ambitious targets and to strive for continuous improvement in ESG performance for offices and operations where ESG implementation is at mature stages. c. Fractal believes that a proactive, science-based, solution-oriented approach will help embed environmental stewardship in its operations and deliver on Fractal’s commitment towards environmental responsibility to stakeholders. i. Fractal is publicly committed to achieving Net Zero emissions in accordance with the SBTi Net Zero standard and is presently in the process of setting and validating its targets by or before April 2025. ii. Fractal also reflects on the SBTi, and We Mean Business Coalition portals as a result of its public commitment to environmental stewardship. d. Fractal encourages resource conservation, resource use efficiency, increase in the use of green energy, and works towards minimizing waste and emissions in business operations. The company minimizes Greenhouse Gas (GHG) emissions and will align with India’s Nationally Determined Commitments (NDC) as well as global call for corporate climate action recommended by the Science Based Targets initiative (SBTi). e. Fractal has been practicing Carbon Accounting and maintaining a GHG inventory from its baseline year of FY 2019- 2020. Fractal has third party independent assurance for its Scope 1 Scope 2 and Scope 3 emissions in line with the AA1000AS standard – Moderate. level assurance. This independent assurance assures Fractal’s emissions for FY 2019-20, FY 2020-21, FY 2021-22, and FY 2022-23, covering all the years of Fractal’s carbon accounting/GHG inventory. Fractal tracks and communicates its progress on UN SDG 13. f. Taskforce On Climate Related Financial Disclosures (TCFD) reporting: Fractal is also currently in the process of completing its TCFD reporting. This will serve as a comprehensive framework for assessing and disclosing climate- related risks and opportunities. Through this exercise, Fractal aims to enhance our understanding of the potential of climate-related impact on our business and value chain and will establish a solid foundation for addressing these issues effectively. g. Carbon Disclosure Project (CDP) Reporting and Fractal’s first EcoVadis Assessment: Fractal has been privately reporting on CDP for the last 3 years on client request and has most recently scored a B rating. Fractal has also recently completed its submission to EcoVadis for the fiscal year 2022-23 and received its EcoVadis score as an EcoVadis committed organization. h. Ongoing Efforts to Reduce Carbon Emissions: Fractal will continue to reduce its workplace emissions, employee commute and business travel related emissions. It will also continue to offset carbon by way of nature-based afforestation drives for biodiversity, ground water replenishment and protection of wildlife habitat. Fractal Mumbai continued to be powered by renewable energy from the grid, accounting for around 55% of its corporate real estate in FY 2023-24; and Fractal will strive to expand the share of renewable energy across its other global workspaces. Fractal continues to invest in and work on transitioning the leased corporate surface travel fleet to electric vehicles (EVs).
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Financial aid and career guidance to talented female students from underprivileged backgrounds to significantly improve their career prospects. Impact: Scholarships to 10 resilient female students for higher professional education.
Sponsorship of artificial limbs, calipers, mobility aids to the economically severely under privileged. Impact: 280 people linked to critical mobility aids enabling their social inclusion and disability support.
13,750 bamboo germplasm plantation + creation of 125 vegetable gardens creating future and interim income for marginalized tribal farmers. Interim income impact: C 6,000/ family/month. Climate resilience, UN SDG 13 action.
1,400 students reached via the iMobile innovation lab program in its 3 rd year. Expected outcome: Increase in comfort with science lessons due to hands on learning exposure through the year
3. Fractal’s continued commitment towards ESG responsibilities – community outreach by Fractalites on volunteering drives, programs. Employee Engagement and Volunteering Impact Days Fractal also seeks to be a workplace of choice for those who seek to pursue professional, personal, and social goals with a high degree of passion. Fractal seeks to integrate usage of its core expertise to achieve greater social impact. Creating shared value in an identified social problem arena, that we are equipped to help resolve. And from where the greatest community benefit can be gleaned. Key volunteering initiative: Fractal FFE Mentorship Program Fractal CSR sponsored the mentorship of 25 academically gifted and financially deserving students in India pursuing degrees in Engineering (BE)/Technology and (BTech). FFE’s scholars are academically gifted, but due to a lack of beyond community exposure, often lack essential job readiness skills. The FFE mentoring program has been specially developed for third year FFE Engineering scholars to help them acquire essential career-relevant skills that are necessary for building a foundation for a good career. FFE’s Mentoring Program is also designed with employability as its focus to enable students to better their chances of internships and placements at reputed organizations /Institutions. The mentorship program at Fractal was conducted virtually. Mentors and mentees both reported a positive and meaningful set of interactions and mentees reported improved understanding of soft skills, time management and business communication. Recurring annual volunteering initiative: Secret Santa Campaign This is a recurring annual event across Fractal’s India locations. The CSR team had designed and executed the Annual Secret Santa Campaign. Fractal and Fractalites voluntarily sponsored Secret Santa gifts to students. The campaign was open to all Fractalites across India locations. More than 279 Fractalites across levels participated in this campaign with the remainder of the kits sponsored by Fractal. In total 700 kits amounting to C 3,50,000 were contributed to children across the communities at Fractal base locations. Please find below the location wise details. Locations CSR partner School name and Grade What’s in the kit No of students Bengaluru Embassy - ETV Government Kannada Higher Primary School, Sanjaynagar and Ashwath Nagar Grade 1-7 Health kit +Drawing Book + Notebook and story book 250 Chennai Embassy - ETV Government ADW Primary School
Health kit + Drawing Book + Notebook and story book
Nagalkeni Grade 1-7
50
Gurugram Agastya International Foundation
Government Senior Secondary School Garhi Harsaru Grade 8
Geometry box + 2 story books + drawing book + art supplies Activity book + Long notebooks + Geometry box
100
Mumbai
Akanksha Foundation Mahatma Phule Market Mumbai Public School – Mumbai Grade 8-10 Wadi Bandar Mumbai, Public school Mazgaon Grade 8-10
125
Activity book + Writing pad
125
Pune
Agastya International Foundation
Ram Bhau Parulekar Vidya Niketan Grade 8
Scholarship guide and set of 2 Story books
50
112
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Fractal Analytics Limited | Annual Report 2023-24
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