Persistent Systems ESG Audit: SEBI BRSR Core Mandate & Rescoped Renewable Targets

ESG REGULATORY AUDIT • COMPLIANCE TARGETS

Persistent Systems and Indian IT Services: One ESG Compliance Deadline Worth Watching

Reading Past Headline Ratings to SEBI BRSR Core Mandates and Rescoped Targets

Regulatory Context: Analysis of Persistent Systems' FY2025-26 Annual Report disclosures, SEBI BRSR Core circulars, and independent ESG compliance reporting.

Top 500

SEBI BRSR Scope (FY2025-26)

Top 1,000

SEBI Mandate Expansion (FY26-27)

68%

Actual Company Renewable Share

54.6%

SBTi 2034 Absolute Cut Target

~50%/yr

Leased Asset Footprint Expansion

Regulatory Outline

1. Regulator Correction (SEBI) 2. SEBI BRSR Core Glide Path 3. Renewable Goal Rescoping 4. SBTi 2033-34 Net-Zero Target

REGULATORY JURISDICTION

Which Regulator Actually Governs IT Services ESG?

While heavy manufacturing reports to MoEFCC (Ministry of Environment), asset-light IT services companies operate out of leased commercial space. For Persistent Systems (Right-of-Use assets growing ~50%/year), the regulator driving mandatory ESG compliance deadlines is SEBI (Securities and Exchange Board of India).

SEBI MANDATE

SEBI's BRSR Core Independent Assurance Glide Path

SEBI requires progressive cohorts of listed firms to secure independent third-party assurance across 9 ESG attributes (GHG emissions, water, waste, gender diversity, customer fairness).

Company Cohort	Mandatory Assurance Timeline	Persistent Systems Compliance Status
Top 150 Listed Companies	FY 2023-24	N/A
Top 250 Listed Companies	FY 2024-25	N/A
Top 500 Listed Companies	FY 2025-26 (Live Now)	Compliant (DNV Assured)
Top 1,000 Listed Companies	FY 2026-27	Mandate Applies to Mid-Cap Peers

Persistent's FY26 disclosures confirm full compliance: "BRSR core disclosures are externally assured by an independent third-party — DNV Business Assurance."

TARGET AUDIT

Renewable Energy Target: Met for India, Quietly Rescoped Globally

Persistent's FY25 goal stated: "To source 100% of electricity from renewable energy for all owned facilities by FY2026." Through a state Green Tariff scheme, 100% renewable power was achieved for owned facilities in India.

Scope Revision Disclosed in Goal Tables

In the FY26 Annual Report, the FY27 goal was reworded to: "To source 100% of electricity from renewable energy for all India owned facilities by FY2027."

Company-wide data reveals total renewable energy consumption sits at 40,914 GJ vs 19,061 GJ non-renewable—an actual company-wide renewable share of ~68%. The 100% milestone applies exclusively to India-owned sites, while global leased offices remain dependent on local grid mixes.

LONG-TERM GOALS

SBTi-Validated 2033-34 Interim Emissions Target

Persistent has committed to an SBTi-validated target: Reduce absolute Scope 1, 2, and 3 emissions by 54.6% by FY2033-34 (from an FY25 base year) ahead of Net-Zero 2050. Achieving an absolute 54.6% reduction will test operational execution while leased office footprints grow ~50% annually.