ESG Report 2022-23

Delivering Valuefor Our People and Planet
The Persistent Way

Contents
2

Delivering Value for Our People
and Planet

20

Environment – Goals and Ambitions

62

Governance – Goals and Ambitions

110

Key Performance Indicators

4

Persistent Performance

22

Climate Action

64

Annexure

6

Message from the Chairman

Energy and Emission Management

Building a Foundation of Sustainability
and Ethical Responsibility

114

24

8

Message from the CEO

Water Management

Performance Evaluation of the BoardGRI Disclosure

26

66

114

SDG and UNGC Principles, Material Topics

9

Message from the Chief of Operationsand Head of Sustainability

Waste Management

Human Rights Protection

117

30

70

ESG Material Topics and KPIs

Environmental Compliance at Persistent

Ethics at Persistent Systems

118

33

72
76

Risk Management

120

SASB Reporting82

Climate Change and TCFD Reporting

121

UNGC 10 Principles

88

Cybersecurity

122

Methodology of Computing Datafor ESG Report

94

Customer Stewardship

98

Message from the ESG Head

124

Glossary of Acronyms

100

We are Persistent

125

Assurance Certificate

102

Awards and Recognition

106

Global Presence

10

Persistent at a Glance

12

Delivering Value through Our Culture

14

Delivering Value for an Equitable World

16

Engaging Stakeholders for Shared
Value Creation

18

Identifying Key Focus Areas for
Sustainable Impact

34

Social – Goals and Ambitions

36

Corporate Social Responsibility

40

Committed to the Community

44

Our People – The Heart and Soul of Persistent46

Empowering Our People

52

Occupational Health and Safety (OHS)54

MyLife At Persistent: Promoting Well-being

56

Diversity, Equity, Inclusion and Belonging

60

Supply Chain Management

Persistent Systems

Corporate Overview Environment Social

Governance

Key Performance Indicators

Annexure

Delivering Valuefor Our People and Planet
The Persistent Way

At Persistent, we are deeply committed to integrating sustainability
and ethical practices into every aspect of our business strategy. Our
overarching goal is not only to achieve profitable growth but also
to create a positive impact on both society and the environment.
By harnessing our technological expertise and innovative solutions, we
strive to deliver value to all the stakeholders through our operations.
We fully recognize the pressing urgency toaddress environmental challenges and as a
responsible corporate entity, we are taking
proactive measures to mitigate our impact. We
are actively optimizing our energy consumption,
minimizing waste generation, and embracing
eco-friendly technologies. Through these actions,
we are dedicated to reducing our ecologicalfootprint and contributing to the well-being ofour planet.
Equally important is our commitment to ourpeople. We firmly believe that our employees
are our greatest asset and we are fully devoted
to their growth and well-being. We have
implemented various initiatives such as skill
development programs, mentorship opportunities
and employee resource groups to nurture theirtalents and provide equal opportunities for all.
By investing in their personal and professional
development, we create a work environment that
fosters innovation, creativity and inclusivity.

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ESG Report 2022-23

Furthermore, we understand the significance ofaddressing societal challenges and supporting
local communities. In line with this, we actively
engage in philanthropic endeavor, community
outreach programs and collaborate with
non-profit organizations. By doing so, we strive
to uplift communities, address social issues andcreate a positive and lasting impact on the livesof those around us.
In our pursuit of sustainability and ethical businesspractices, we emphasize the importance of data
privacy and security and responsible supply
chain management. These principles are deeply
ingrained in our core business strategy, ensuringthat we make a substantial positive impact onsociety as a whole.
By actively contributing to a more sustainable
future, we aim to build trust and long-term
partnerships with our stakeholders. We firmly
believe that through our collective efforts, we candeliver lasting value while making a meaningful
and significant contribution to the world we live in.

Delivering Value for Our People and Planet3

Persistent Systems

Corporate Overview Environment Social

Governance

Key Performance Indicators

Annexure

FY 2022-23 Performance Highlights

Persistent Performance

ESG Highlights

We want to sincerely thank all our clients, members of ourpartner ecosystem, and every member of our 22,889 Persistentfamily for their support and collaboration which enabled us toreach our $ 1 billion milestone.

Financial Highlights
Revenue CAGR

(US$ mn)

Environment

27.3%

17.5%

Revenue CAGR from
IPO to FY 2022-23

Revenue CAGR between
FY20 and FY 2022-23

1,036

127

170

207

238

274

309

FY10

FY11

FY12

FY13

FY14

FY15

FY16

Revenue ($ Million)+35.3%

429

471

481

502

FY17

FY18

FY19

FY20

Revenue (₹ Million)

1,036.0

EBIT (₹ Million)

FY22+57.4%

7,921.6

7/10

1,362 tCO2e

33

2/7

46%

432 events

99%

30%

23,4232 MW solar rooftop

Emission reduction in FY 2022-23

Electricity sourced fromrenewable energy

FY239,210.9

Of treated wastewater in owned
campuses is used within our facilities+33.4%

Women in workforce

Nationalities

Around employee welfare

Number of Independent Directors
on the Board

Women Directors on the Board

Code of Conduct training coverage

Lives impacted throughCSR programs

13,420

Trees planted and nurtured in taking
overall total to 96,035

6,903.9(Margin 13.9%)(Margin 14.9%)(Margin 11.8%)(Margin 11.0%)

FY22

FY23

FY22

FY23

ESG Report 2022-23

FY23+46.2%

Profit After Tax (PAT) (₹ Million)		

12,472.3

4

FY2257,108

FY23

30.8%

2 windmills (2.1 MW each)

Emission reduction in FY 2022-23

83,506

765.6

FY22

566

FY21

Governance

2,611 tCO2e

766

352

SocialPersistent has joined the United Nations Global Compact as a part ofits commitment to being a responsible organization.

Delivering Value for Our People and Planet5Persistent Systems

Corporate Overview Environment Social

Governance

Key Performance Indicators

Annexure

Message from the Chairman

Our customers are increasingly concerned about
their own ESG portfolios and footprints. They seek
guidance from us on aligning their practices withsustainability goals. Therefore, we must integratesustainability in every aspect of our operations
and work closely with our customers to accelerate
their sustainability journey. As we measure our
impact and reflect on the consequences of ouractions, we realise that sustainability calls for acomprehensive approach. We are thus going
beyond environmental aspects to encompass
inclusivity, equity, and social impact. Creatingawareness and identifying key performanceindicators in these areas is crucial.

We are going beyond
environmental aspects toencompass inclusivity, equity
and social impact. Creatingawareness and identifying
key performance indicators inthese areas are crucial.”

Dear stakeholders,
The world we live in is faced with contrasting
realities. On the one hand, human ingenuity
and advancements in technology are
redefining possibilities with generative AI andmachine learning. On the other, we are still
debating viable solutions to address the world’s
most pressing challenges, like climate change
and a more equitable future. The need forsynchronised actions on a war footing has
never been so apparent.

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ESG Report 2022-23

Although the tech industry is not a significant
carbon emitter, it has a more prominent role increating a sustainable future, with technology
as an active catalyst. We must set actionable
goals with a defined timeframe, undertake
measurable actions, and uphold the highest
standards of integrity. We must explore better
options to reduce our carbon footprint andsupport R&D efforts. In this context, I am
delighted to share our ESG goals and progress
as we move towards the next billion dollars
in revenues.

The Board sets our sustainability and social
impact agenda. Board meetings are thoughtfully
structured to reinforce that we should not makethis a tick-box exercise. Instead, we must strive to
do it in spirit, whatever it takes. It’s a
top-down approach – building a sustainablebusiness model must start at the Board level andnot be driven by short-term goals. The mentorshipmodel within the Board, along with regular
discussions, provides invaluable guidance andactionable insights.
Through Persistent Foundation, we are deeply
involved across our chosen focus areas ofeducation (women and children), healthcare,and community service (water and environment).
We identify our social projects so that ouremployees can contribute meaningfully to deliver
positive change. Our CSR spending is directedjudiciously to benefit people at the bottom of the
pyramid with initiatives like the cleft palate mission
and the Kiran Girls Scholarship for enriching lives
and enhancing livelihood opportunities.

We encourage our employees to embracepersonal social responsibility and support
causes they deeply care about. While travel isa significant contributor to our carbon footprint,
individuals are growing aware of their personal
impact and ESG footprint. We will actively
encourage our employees to consider theirpersonal footprints.
In conclusion, sustainability and social impact
require an unwavering commitment to finding
holistic solutions. And the tech industry is
uniquely positioned to lead the way. By embracing
new technologies and forging close partnerships
with our customers and communities, we aspire to
set benchmarks and continuously raise the bar on
sustainable practices.
I look forward to your support in our ESG journey.

Anand DeshpandeFounder, Chairman and Managing Director

Delivering Value for Our People and Planet

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Persistent Systems

Corporate Overview Environment Social

Message from the CEO

Message from the Chief of Operations andHead of Sustainability

Dear Stakeholders,Dear Stakeholders,

Sustainable business practices are pivotal to
The Persistent Way, serving not only as a moral
imperative but also as a key to fostering and sustaining
future growth for both our organization and our clients.
Since our inception 33 years ago, we have consistently
upheld the highest standards of ethics, integrity, andaccountability, striving to be a socially responsible
company that is accountable for its actions.

For Persistent Systems, ESG has emerged as far morethan just a responsibility. It’s now an opportunity to fulfil
the duty which we have towards our people, our planet
and our communities. The duty of creating value.

I am delighted to present the second edition of ourEnvironmental, Social, and Governance (ESG) Report,
which showcases our continuous efforts to enhance
our ESG commitments and integrate them into ouroperational model. This report highlights the progress
we have made since formally establishing the ESG
function last year across all our focus areas, including
diversity, equity and inclusion; ethics and transparency;climate change; technology for the greater good, anddata privacy and information management.
It is now widely recognized that by aligning businessobjectives with the needs and expectations of oursociety and communities, we can create long-termvalue for all stakeholders while minimizing operationalrisks and delivering benefits to our people andthe planet. This best-practice approach has been
instrumental in reaching the milestone of $ 1 billion in
annual revenue in FY 2022-23. We extend our heartfelt
gratitude to our global clients, partners, investors, anddedicated team members for their incredible support.
In 2022, we made the decision to join the United
Nations Global Compact, further emphasizing ourcommitment to aligning strategies and operations
with universal principles on human rights, labor,
the environment, and anti-corruption practices. The
association plays a crucial role in our holistic ESG
strategy, ensuring that our goals and programs reflect
the latest worldwide trends and perspectives in thesevital areas.

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ESG Report 2022-23

Governance

Key Performance Indicators

AnnexureWith a firm belief that sustainability must be integrated
into every aspect of our day-to-day operations andprocesses, we have established a dedicated ESG
function this year to strengthen our ESG commitments.
We onboarded Chitra Byregowda as Head of ESG todrive these initiatives globally.

From conserving resources through renewable-energy
initiatives and green-technology interventions topromoting diversity and inclusion throughout our global
team, and from allocating $ 1 million in community
support to commemorate our $ 1 billion-dollar
revenue milestone, we take immense pride in how welleffectively we have integrated sustainability into every
aspect of our business, resulting in positive impacts.
As we embark on the next phase of our growth journey,
we will continue to monitor our progress and scale our
performance to achieve our ESG goals.
Collaboration and engagement with our stakeholders
will remain a cornerstone of our approach, as we
firmly believe that collective action is indispensable
in addressing global sustainability challenges.
Together, we will continue to demonstrate boldness
and innovation in empowering our communities
and building a brighter tomorrow for all through
The Persistent Way.

I am happy to inform you that Persistent continued tomake significant strides to elevate the sustainability of
our operations. During 2022-23, we partnered with anumber of stakeholders to enhance our ESG coverage,
overcome data gaps, improve disclosures, and evolve
policy frameworks.
It is a matter of immense honor that our investments ingreen technology, green buildings, smart workspaces,and sustainable community development wererecognised and awarded by ICBC, CII, MCCIA, MEDA.
We actively participated in community initiatives
and remains committed to making positive
contributions and life changing impacts in theareas of health, education, and environment andcommunity development.
We also engaged with our customers to understandtheir sustainability expectations and incorporated their
feedback into our products and services.

I am deeply proud of the initiatives and programs
we have implemented to enhance operational
efficiency, reduce our environmental impact, andfoster a culture of sustainability among our employees
and stakeholders.
As we forge ahead on our ESG journey, I want toexpress my sincere gratitude to each of you for yourunwavering support. And together, let us continue
to inspire and empower one another as we strive forexcellence in sustainability.

Sameer Bendre

Chief of Operations and Head of Sustainability

Sandeep Kalra
CEO and Executive Director

Delivering Value for Our People and Planet

9Persistent Systems

Corporate Overview Environment Social

Governance

Key Performance Indicators

Annexure

Persistent at a Glance

Doing it the Persistent Way
We are a trusted Digital Engineering and Enterprise Modernization
partner, combining deep technical expertise and industry experience
to help our clients anticipate what’s next and answer questions before
they’re asked. Our offerings and proven solutions create uniquecompetitive advantage for our clients by giving them the power to see
beyond and rise above.

We charted our path to $ 1 billion in revenue
through unmatched Digital Engineering
leadership, using innovation to break down
barriers and deliver value to our clients. In every
engagement, we demonstrate that we possess
the best combination of software engineering anddigital transformation expertise, backed by ourtalented people, our groundbreaking partnerships
and 30-plus years working with technology.
ISVs select Persistent as their trusted partner to
optimize operations while continuing to innovate
on product development.

350+
Clients in
21 countries

8

Of the 10 largest
global banks

14

Of the top 30
technology majors

6

Of the top 10
healthcare companies

We serve 16 of the top 20 software companies
and have been involved in the engineeringof more than 5,500 product releases from
ISVs in the past five years. Enterprises acrossvertical industries turn to us to develop new
digital services and use cases in banking,insurance, healthcare, life sciences and more.
We bring software-driven perspective, talentand experience to each engagement, with avested interest in collaborating with a company
to engineer success and deliver value. We also
have an inherent ability to pivot to overcome
roadblocks, a focus on customer service,
and proprietary Digital Engineering IP that
accelerates time to value. Persistent defined,
pioneered and continues to advance modern
Digital Engineering across industries, ISVs andthe entire product development value chain,with the skills and momentum to maintain ourleadership position far into the future.

To read more about the company, please refer to annual report 2022-23

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ESG Report 2022-23

Delivering Value for Our People and Planet

11Persistent Systems

Corporate Overview Environment Social

Governance

Key Performance Indicators

Annexure

Delivering Value
Through Our Culture
Our tremendous growth during the past three years is even more
extraordinary considering we’ve only recently emerged from a global
pandemic. It forced all companies to contend with a massive pivot
to hybrid working models, waves of attrition, and disrupted businessmodels. All of this created a massive impact on corporate cultures
everywhere, including Persistent.

As we often do at Persistent, we decided to take advantage of this disruption to take a deep
introspective look at our company’s culture, what makes it unique, and how we can ensure that all
our 22,889 employees around the world feel a connection to it. We commenced an internal Culture
Initiative, working with industry thought-leader Martin Lindstrom, focused on several objectives:

Craft our future-purpose statement,aligning veteran employees
and new joiners, and local andinternational cultures.

Adapt to the global nature of ourbusiness, ensuring that all team members
feel included no matter their nationality,
age, grade or seniority.

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ESG Report 2022-23

Create a high degree of pride and sense of
belonging among our team.

Improve Persistent’s current culture,creating a psychologically safe environment
where all employees want to belong.

Delivering Value for Our People and Planet

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Persistent Systems

Corporate Overview Environment Social

Governance

Key Performance Indicators

Annexure

Approach to ESG

Delivering Value for an Equitable WorldWe are dedicated to working
with our people, clients,
partners, and communities
to build a more equitable,
sustainable and healthier world
through the application oftechnology and engineering.
We are strengthening our core with the belief in‘One Persistent, One Family’ and fundamental
values. We collaborate with both our internal andexternal stakeholders to leverage technology,
thus engineering a more sustainable, andhealthier world.

Our ESG Vision

E

Reduce GHG emissions using
technology solutions

S

Nurture diverse talent and foster
local communities

G

Create value for stakeholders by
integrating ESG with our business

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ESG Report 2022-23

We are proud to present our second ESG
report which highlights how we conductbusiness responsibly and deliver to stakeholder
expectations. We shall be reporting on oursustainability endeavors and activities on anannual basis. We have included aspects of
ESG and the sustainability performance of ourbusiness in our FY 2022-23 Annual Report andwith the release of a separate sustainability
report, we now wish to highlight significant
material issues for the business as well. The
scope and boundary remains the same as in ourprevious report, with no changes in structure,
ownership and nature of business that may
have any significant bearing on the report.

About this Report

Our Commitment

Identifying and capturing
even the most unexpected
opportunities to optimize ourenvironmental footprint

ESG Report 2022-23

Our ESG Report communicates the progresson our ESG Vision and commitments during
the reporting period April 1, 2022 to March 31,
2023. The report addresses the growing interestof stakeholders across ESG aspects. In ourconsolidated financial statements, we include
all the wholly owned subsidiaries and stepdown subsidiaries.

Being responsible in theaugmentation of our in-housecapacity and contributions tobuild resilient communities

Pursuing the ideal of“One Persistent, One Family”
in everything we doUnless stated otherwise, the reporting scopeand boundary covers the operations acrossall Persistent Systems Ltd, except in the casewhere it is specified globally and does notinclude subsidiaries.

Reporting Framework and Standards
The ESG report is in accordance to Global
Reporting Initiative (GRI Standards) 2021,
Business Responsibility and Sustainability
Reporting (BRSR) requirements of SEBI.
Sustainability Accounting Standard Board(SASB) standards, TCFD Principles, ourmaterial issues are also aligned with theUnited Nations Sustainable Development
Goals (UNSDGs) ensuring transparency andaccountability and forms the basis of our
Communication on Progress (CoP) with the
UN Global Compact (UNGC).

Assurance Statement
Our ESG disclosures undergo a thoroughreview internally by respective business units
and externally assured by an independent
assurance body named DNV India Business
Assurance Pvt Ltd.

Forward Looking Statement

Feedback and QueriesThis report incorporates forward-looking statements thatoutline our expectations and plans, grounded in reasonableassumptions and past performance. Additionally, thesestatements are contingent upon factors such as industrial
development, geographical market conditions, government
policies, laws, regulations and other incidental factors.
Therefore, the statements should be regarded as inherently
speculative due to the variable nature of these factors, and theunderlying assumptions may undergo significant changes.

We would appreciate hearing your feedback about
our report.
Chitra Byregowda
Head – Environment Social andGovernance

Saurabh Dwivedi
Head – Investor Relations
and M&A

chitra_byregowda@persistent.com

investors@persistent.com

Delivering Value for Our People and Planet

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Persistent Systems

Corporate Overview Environment Social

Governance

Key Performance Indicators

Annexure

Stakeholder Relationships

Engaging Stakeholders for
Shared Value Creation
We engage with our stakeholders regularly to understand their
expectations, gather insights and identify issues that could
materially impact our value creation abilities. Such engagement
enables us to nurture long-term relationships based on trust andtransparency. We factor in those insights and expectations todevelop our ESG roadmap.

As part of our sustainability strategy, we aim to identify the key concerns of our stakeholders
across environmental, social and governance issues. Our stakeholder groups include clientsand partners, investors/shareowners, suppliers, society at large, employees and their families.
We identified these stakeholders based on their impact on the business and vice versa.

Stakeholder Engagement Process
Key Stakeholder Groups

Mode of Engagement

Frequency of Engagement

Key Expectations

External Stakeholder Groups
Clients and Partners
Investors / Shareowners

Suppliers\ Events\ Need based\ Product quality and safety\ Survey\ Periodically\ Product availability\ Stock exchange filings\ Need based\ Shareholders’ survey\ Quarterly\ Keeping Shareholders
informed\ Annual General Meeting\ Annually\ Compliance requirement\ Suppliers meet

\ Monthly\ Maintaining service standards\ Mutual visits\ Quarterly\ Monthly meetings withleadership\ Annually and\ Events
Society at large\ Events\ Shareholders’ engagement\ Need based\ Periodically\ Fulfilling social responsibility\ Monthly and quarterly meet

\ Monthly\ Personal development\ Personal review and visits\ Quarterly\ Health and safety\ Surveys\ Annually and\ Trainings\ Need based\ Grievance resolution
mechanism\ Campaigns

Internal Stakeholder Groups
Employees and their families\ Annual day\ Events

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ESG Report 2022-23

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17Persistent Systems

Corporate Overview Environment Social

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Key Performance Indicators

Annexure

Materiality Analysis

Identifying Key Focus Areas
for Sustainable Impact
To identify key topics thatare most important to ourstakeholders when evaluating
environmental, social, andgovernance issues, we
conducted a materiality
exercise to prioritize the issues
that are of utmost importance.

Involvement of Stakeholders

Key Material Topics Identification Process
Evaluation of
stakeholder
perception of
Persistent’s impact
with respect tomaterial topics

Identificationof important
stakeholders

We engaged with both internaland external stakeholders in theidentification of material issues,
to factor in diverse perspectives
and insights.

Analysis ofimportance ofmaterial topics
based on stakeholder
engagement

Review andfinalization ofmaterial topics by
top management

Validation ofmaterial topics

Impact on Our Business

Materiality Assessment
Process
We conduct materiality assessment at least
once every two years to identify and prioritize
the most significant environmental, social, andgovernance factors relevant to the businessand ensures alignment with stakeholder
expectations, regulatory requirements, global
trends and sustainable value creation.

The identified material issues wereprioritized using a materiality matrix,
based on their degree of impact on
our business.

Integration in ERM Process
ESG Risks that have impact on ourbusiness are seamlessly integrated
into our Enterprise Risk Management(ERM) framework.

Through this assessment engaging with internal and external stakeholders, we have identified
12 material topics relevant to our stakeholders and Business. The material topics were reviewed
by respective business units this year in alignment to stakeholder expectations. There has been nochanges in material topics compared to previous reporting period. We have set targets across thesematerial topics.

Key Material Topics

Environment

SocialGovernance

Climate action
Energy andemission management

Empowering our people
Diversity and inclusion

Corporate governanceand ethics

Social responsibility

Economic performance

Employee health, safety,
and well-being

Data privacy
and cybersecurity

Water management
Waste management

Customer stewardship18

ESG Report 2022-23

Delivering Value for Our People and Planet

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Persistent Systems

Corporate Overview Environment Social

Governance

Key Performance Indicators

Annexure

Environment – Goals and Ambitions

Preserving Our Planet
Nurturing Environmental StewardshipWith an unwavering commitment, we are actively pursuing ourenvironmental goals and preserving the planet. By integrating
clean technology solutions across our operations, we arededicated to minimizing our environmental impact and fostering
a positive footprint. Through the alignment of our businessstrategies with sustainability agenda, we strive to create a better
future for generations to come.

Climate Action, Energy and Emission Management
Ambitions

Progress in Fiscal FY 2022-23

2026

46%

Carbon Neutral for Scope1 andScope2 emissions

2028
Environment Vision

Reduce GHG emissions using
technology solutions

UN SDGs Aligned

Reduce 30% emissions (Scope 3) from ourglobal operations

2030

Electricity sourced fromrenewable energy

13,420

Trees planted and nurtured taking overall
total to 96,035

RE 100 (100% electricity sourced fromrenewable energy)

Water Stewardship
Ambitions

Progress in Fiscal FY 2022-23

2026

30%

Reduce freshwater consumption andachieve 100% wastewater recycling in
owned campuses

Of treated wastewater in owned
campuses is used within our facilities

Increase groundwater recharge and water
storage capacities in water affected regions
Progress in the above table corresponds to India operations only
We have rearticulated our goals to bring in more clarity

20

ESG Report 2022-23

Delivering Value for Our People and Planet21

Persistent Systems

Corporate Overview Environment Social

Governance

Key Performance Indicators

Annexure

Environment

Climate Action
Climate change is a global crisis
resulting in extreme weather
fluctuations, severe storms, flooding,heat waves and drought aroundthe globe and hence we believe
it’s an urgent call to take actions
by society at large. Climate action
has been a key ESG focus area andwe have committed to reducecarbon emissions.
Persistent’s GHG inventory follows
the Greenhouse Gas (GHG) Protocol,
a Corporate Accounting andReporting Standard.
Categorization of Our Emissions
Scope 1

314.1 tCO2e
Scope 25,890.2 tCO2e
Scope 3

4,337.3 tCO2e

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ESG Report 2022-23

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Persistent Systems

Corporate Overview Environment Social

Governance

Key Performance Indicators

Annexure

Environment

Energy and Emission Management
We plan to achieve our climate action goals by
investment in Renewable energy, green buildings,
improve energy efficiency in existing buildings
through operational controls in lighting, heating,cooling and ventilation, improve operational
efficiency through capacity optimization andtechnological upgradation.

\ Replaced ductable AC units with energyefficient inverter-based ACs, resulting in
12% reduction in electricity consumption\ Upgraded the chiller system withhigh-efficiency systems, reducing energy
and water consumption

13,798.6 MWh

Operational Efficiency

Total energy consumption across global facilities
Total Energy
consumption
in GJ

Total Energy
consumption in
MWh

India

43,730.4

12,147.34

US4,554.7

1,265.20

ROW

1,390.0

386.11

46%

Green Building Initiatives\ Adoption of Leadership in Energy andEnvironmental Design (LEED) Principles during
the built and interior design stage.
\ 100% eco-certified furniture in new projects.

Of our energy consumption in India is met throughrenewable energy sources.

\ BEE 3 star rated/ Green Pro certified / Energy
star appliances used.
\ Use of environmentally friendly refrigerants.

Energy Mix (%) across India Operations
1
16

Power Grid
30

53

Wind
Solar
DG

The efficient design of new buildings, green
retrofits in existing buildings, and operational
excellence through smart automation were crucial
in achieving energy efficiency.
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ESG Report 2022-23

HVAC Retrofit\ Replaced existing air conditioning units
with energy-efficient inverter-based
ACs, resulting in a 15% reduction inelectricity consumption

Our unwavering dedication to reduce greenhousegas emissions and prevent climate change isevident through our commitment and actions.

Location

Energy Efficiency Initiatives\ 54% of occupied areas have natural daylight\ Regulated and optimized schedules for lifts,
vending machines, ventilation systems,
water coolers, and other equipment,
minimizing unnecessary energy usage\ Installed Variable Frequency Drives (VFDs)
in fresh air, Air Handling Unit (AHU) systems
for better control and adjustment, optimizing
energy consumption\ Controlling and monitoring daily operations
through building management system

Lighting Efficiency\ Procurement of materials within a 500km radial
distance to minimize carbon emissions.

\ Transitioned from CFLs to LED lamps\ Use of low VOC paints, CRI Green Label Pluscertified carpets, and Green Pro certified
plywood to reduce VOC emissions.

\ Smart lighting systems controlled by sensors
and occupancy/motion sensors, optimizing
energy usage\ Sustainable construction practices such as
double wall brickwork and the use of crush sandand fly ash bricks.
\ Installation of double glass units with low ‘e’ glass
for windows and facades, as well as double glass
partitions for meeting rooms.

\ High-efficiency modular online UPS
systems, resulting in approximately
18% energy saving

Renewable Energy Initiatives\ Installed rooftop solar plants with a
combined capacity of 2 MW, generating
19,04,900 kWh of renewable energy\ Installed 2 windmills with capacityof 2.1 MW each generating
3,651,547 kWh together
We promote eco-friendly practices across ourbusiness operations and urge our people andvendors to adopt environmental friendly practices.

Bhageerath facility in Pune received BEE
2 and 3 stars for energy efficiency

Recognised for adopting renewableenergy at its Goa office premises by the
Confederation of Indian Industry, Goa
Won an award for Green Initiatives in
Maharashtra under the IT Services – Large
Scale Company category at the MCCIA
Annual Awards 2022
Won the Energy Conservation andManagement Award from the Maharashtra
Energy Development Agency (MEDA)

Won the Best Corporate Project award for
its Bhageerath office renovation and wasnames a runner-up in Sustainability at theiNFHRA Awards
Won seven Leadership Awards for
Facilities Management, Security
Management, Environment, Health and
Safety, Energy Conservation Initiative,
and Infrastructure Management at
CEWorldwide Conference\ Optimized material acoustic performancethrough using acoustic ceiling materials and
CRI Green Label Plus certified partitions.

Delivering Value for Our People and Planet25

Persistent Systems

Corporate Overview Environment Social

Governance

Key Performance Indicators

Annexure

Environment

Water
Management
Water being a scarce and invaluable
natural resource, we are strongly
committed to its conservation. As themost important necessity for life,
there has been an immense amountof stress on the availability of water.
There is an acute shortage of water
across various locations around theglobe caused by ever-increasing
demand, over-exploitation andinfluential climate change impacts
leading to erratic monsoons.

46,376 KL

Total water consumed in FY 2022-23

13,874 KL

Total water recycled in FY 2022-23

30%

Of treated wastewater in owned campuses is usedwithin our facilities

The above numbers are for India operations only26

ESG Report 2022-23

Delivering Value for Our People and Planet27

Persistent Systems

Corporate Overview Environment Social

Governance

Key Performance Indicators

Annexure

Environment

Disruption in the water cycle leads to risks
in terms of shortage of food, resources, andother necessities of life. The dependency
on water is never-ending and to ensure aplentiful supply we must act responsibly now
to conserve our water resources. We ensurethat water is treated as a precious resource
across all our offices, and we promote smart
and sustainable usage of water throughvarious company-wide initiatives. Withdrawalof water for our operations does not affect any
water sources.

\ Prevention of overflow from overhead tanks
using auto level control system\ Water efficient flow fixtures like basin
faucets with aerators have been installed toreduce water flow at water taps, reducing
water consumption\ Water meter readings are monitored twice a day
to detect overuse and excessive leakage

Case Study

Watershed Programs for Sustainable Development
The Persistent Foundation has undertaken
several watershed programs to conserve water
resources and promote sustainable development
in rural areas.

\ Groundwater is recharged with rainwater
harvesting systems in Hinjewadi, Pune, Nagpur,and Goa facilities

The project involves the deepening andwidening of streams, the construction of
cement and earthen dams and digging of farm
ponds. This helps increase ground water levels.
We adopted a ridge-to-valley approach with
the intention to conserve every drop of water
starting at the ridge. This approach seeks todetain, divert, store, and use available rainwater.
This allows better management of water flowing
from the ridge to the valley and ensures theconservation of rainwater. With the support ofvillagers and NGO’s we constructed open wells
to ensure accessibility to clean water.

\ Frequent awareness campaigns are conductedto encourage employees to save water

Watershed Programs\ STP wastewater is treated and recycled forgardening and flushing purposes at Pune,
Nagpur and Goa facilities, using 30% of
recycled wastewater\ Wastewater generated from operations istreated in Sewage treatment plants andCommon treatment plants.

11,536

26,888Hectaresof LandLives Impacted

Open Well
39

10,367

16,442

Wells in39 villages

Livestock
supported

Lives Impacted

Above impacts were created by Watershed
programs to the beneficiaries between 2015 to2023. Our efforts in these areas will continue tocreate impact to deserving stakeholders.

28

ESG Report 2022-23

Water management is a criticalissue, and the PersistentFoundation’s efforts towards
sustainable water management
are commendable. Throughinnovative initiatives and watershed
programs, the foundation is not
only conserving water resources
but also promoting sustainable
development in rural areas.”

Delivering Value for Our People and Planet

29

Persistent Systems

Corporate Overview Environment Social

Governance

Key Performance Indicators

Annexure

Environment

Waste
Management
As a responsible corporate citizen,
we recognize the importance ofenvironmental sustainability and theneed to manage waste effectively.
Our waste management approachis based on the philosophy of 3R’s
Reduce, Reuse and Recycle.

62.4 Tonnesof waste generated

92%

of waste recycled

The above numbers are for India operations only30

ESG Report 2022-23

Delivering Value for Our People and Planet31

Persistent Systems

Corporate Overview Environment Social

Governance

Key Performance Indicators

Annexure

Environment

We have taken several initiatives to minimize
waste generation and promote responsible
waste disposal.

Segregation of Dry and Wet Waste
Dry waste, including civil debris, furniturewaste, paper, cardboard, plastic, and glass iscollected separately from wet waste. Throughthis segregation process, we have successfully
minimized the volume of waste sent to landfills.

E-waste and Hazardous Waste
DisposalE-waste and hazardous materials are diligently
handed over to authorized agencies and we
actively encourage our people to deposit theirpersonal e-waste at our company facilities.

Environmental
Compliance at
Persistent

Refurbishing of End-of-Life Laptops

We have initiated a program to refurbish endof-life (EOL) laptops and donate them to NGOsand educational institutes. This initiative not only
helps in reduction of e-waste but also creates
employment opportunities for people who need it.

We are dedicated to conserving the environment,
managing our impact on climate change, andcontinuously improving our Environment, Health,and Safety (EHS) Management Systems. We strive
for sustainable development in all our activities,
including software design and development,
promoting energy conservation, reducing
greenhouse gas emissions, and adopting ecofriendly practices throughout our operations.

Reducing Plastic Waste

We have taken several steps in reducing plastic
waste generation. We are minimizing the use ofplastic bags and encouraging the use of cloth or
paper bags. To promote awareness on the harmful
effects of plastic, we organize “No Plastic Day”
and encourage our employees to adopt ecofriendly practices.

Banning Single-use Plastic

We have banned the use of single-use plastic
crockeries thus promoting eco-friendly practices.
We are minimizing the use of plastic bags andencouraging the use of cloth or paper bags.
To promote awareness on the harmful effectsof plastic, we organize “No Plastic Day” andencourage our employees to adopt ecofriendly practices.

Zero Plate Wastage Week

We observe “Zero Plate Wastage” week twicea year to promote responsible consumption andreduce food waste.

Paperless Office

We have adopted a paperless approach wherever
possible, both-side printing is set as the default
mode to reduce paper consumption.

Composting Garden Waste

We understand the importance ofsustainable waste management
and have taken several initiatives
to promote responsible waste
disposal. By segregating dry
and wet waste, disposing of
e-waste and hazardous waste
responsibly, refurbishing endof-life laptops, reducing plastic
waste, promoting responsible
consumption, adopting apaperless approach, compostinggarden waste, we are on ajourney to create a sustainable
future for generations to come.”

Commitment to Compliance andGrievance Resolution\ We ensure compliance with all applicable
environmental regulations.
\ Persistent Systems has maintained a strong
track record with no reported cases of monetaryor non-monetary sanctions for environmental
violations or grievances during the year.

There is a need to conserve biodiversity, thespecies, flora, and fauna. We ensure that we do
not adversely impact biodiversity through ouroperations. None of our facilities is adjacent to,protected areas and areas of high biodiversity
value outside protected areas.
There are no IUCN Red List species or national
conservation list species in the vicinity of
our locations.

Garden waste is composed to manure, which isthen used in our gardens.

32

ESG Report 2022-23

Delivering Value for Our People and Planet

33

Persistent Systems

Corporate Overview Environment Social

Governance

Key Performance Indicators

AnnexureSocial – Goals and Ambitions

Driving Positive Social Impact
and Empowerment
Our unwavering commitment lies in cultivating an inclusive work
environment, empowering diverse talents to flourish. We firmly
believe in supporting and enhancing local communities, actively
seeking opportunities to contribute and uplift. Our core values arerooted in social responsibility, propelling us towards a fairer andmore equitable world for all.

Inclusive Workforce
Ambitions

Progress in Fiscal FY 2022-23

2028: To include people of all genders, ethnicities,
sexual preferences, religions and specially abled
persons in our diverse workplaces

30.8%

36

11.14%

33

2028: Achieve 35% of female representation in theworkforce with a special focus to increase women in
the senior management

Women in workforce

Women in leadershiproles

Specially abled people

Nationalities

Employee Health and Safety
Ambitions

Progress in Fiscal FY 2022-23

Ensure work-life harmony to achieve professional
and personal goals

Zero

432

Accidents

Events around fitness,health, women in tech,work-life balance

Maintain zero accidents in the workplace
Implement holistic well-being initiatives focusing on
physical, social, financial, and emotional healthSocial Vision

Nurture diverse talent andfoster local communities

UN SDGs Aligned

Sustainable Livelihood
Ambitions

Progress in Fiscal FY 2022-23

Touch lives to deliver high-impact programs in
Education, Community Development and Health fordiverse beneficiaries

23,423

Lives impacted throughCSR programs

6,623

Hours by volunteeringin ISR activities

3,993

Volunteers
demonstrated ISR

Attract and Nurture Talent
Ambitions

Progress in Fiscal 2023

2023: Achieve learning coverage of 90%

89%

2024: Nurture long-term employees to get themready for senior management roles

Employee satisfaction
score(ESAT)87%

Learning coverage

Ensure a healthy mix of internal and external talent

Value Chain Sustainability

34

ESG Report 2022-23

Ambitions

Progress in Fiscal 2023

By 2028: Enhance supplier standards of conduct
and selection of 50% vendors with focus on
ESG performance

Top 50Vendors identified by spent

Delivering Value for Our People and Planet

35

Persistent Systems

Corporate Overview Environment Social

Governance

Key Performance Indicators

AnnexureSocialCorporate Social
Responsibility
Since 1995-96, we have remained dedicatedto making a positive impact by donating
to institutions, with a primary focus on
health and education. In 2008-09, we tooka significant step towards institutionalizing
our Corporate Social Responsibility (CSR)
initiative by establishing the ‘PersistentFoundation,’ a public charitable trust. The
Persistent Foundation remains committed
to making positive contributions and lifechanging impacts in the areas of health,education and community development.

Our Vision

To provide sustainable solutions for local
communities around Healthcare, Education,
and Community Development to empower
long-lasting impact.

Our Mission

To encourage inspired action from individuals
and groups through the contribution of time andresources to build a better society for humanity.

Our Values
Empowerment

Creating opportunity to improve lives through new
skill development.

Sustainability

Providing long-lasting, environmentally friendly solutions
for the communities we operate in.

Collaboration

Working hand-in-hand with community members
where we provide solutions.

36

ESG Report 2022-23

Delivering Value for Our People and Planet

37

Persistent Systems

Corporate Overview Environment Social

Governance

Key Performance Indicators

AnnexureSocialThe Persistent Foundation primarily focuses on:

Education
Improving infrastructure and quality education.
We aim to provide studentships and scholarships
for our community students by establishing, andfinancially supporting schools, colleges, libraries,
laboratories, and other educational institutions.

HealthProviding preventive and curative
healthcare services.
Our healthcare initiatives directed towards
providing aid to hospitals and welfare centers forpediatric and geriatric care.

Community Development

Corporate Social Responsibility

When the global pandemic began to subside,
the needs of the communities and stakeholders
associated with Foundation took on new
dimensions, with schools reopening, families
gathering together after extended times apart,and a renewed focus on environmental activities.
It strengthened the Foundation’s resolve to
execute on its mission, goals and projects toenhance community experiences and enrichpeople’s lives. From supporting girls in theirpursuit of education and career opportunities,
to providing comprehensive education andrehabilitation services to students with hearing
and visual impairments, to empowering young
men and women in urban and rural areas throughskills development programs, to providing careto individuals with facial clefts and cleft palates,
the Persistent Foundation impacts thousands ofpeople each year with its innovative approach to
Corporate Social Responsibility.

Composition of the CSR Committee
Our CSR Committee, consisting of the Board of
Directors, oversees the framing, monitoring, andexecution of our CSR activities. The committee
ensures effective discharge of our social
responsibility through various CSR projects.

Enabling the adoption of sustainable practices.
Activities around Environment, Water andLivelihood support in rural areas. As partof Environment initiatives, projects like tree
plantation and support for solar power projects.
Comprehensive watershed development projectand support for drinking water are implemented.
As part of livelihood projects we support
agro-based livelihood projects.

38

ESG Report 2022-23

3,993 employees
spent 6,623 hours
by volunteering in
ISR activities

Individual Social Responsibility

We launched impactful ISR (Individual Social
Responsibility) campaigns to encourage employee
volunteering, fostering a culture of giving backto the community. ISR is a platform in which
our people actively participate and make adifference in areas close to their hearts. We alsocollaborate with our clients and together engage
in meaningful activities. Persistent employeescelebrate their birthdays with a purposeby extending their generosity and support
meaningful initiatives.

Delivering Value for Our People and Planet

39

Persistent Systems

Corporate Overview Environment Social

Governance

Key Performance Indicators

AnnexureSocialCommitted to the Community
The Persistent Foundation remains committed to making positive
contributions and life changing impacts in the areas of health,education and community development.

Key focus areas and the projects undertaken
HealthComprehensive care for facial cleft
and palate surgeries

4

Number of CCCs

4

Services offered in CCC(Nutrition, Dental, Speech
Therapy, Nasoalveolar
Molding)629

Number of beneficiaries

795

Number of patients
supported for surgery

Pediatric care

292 surgeries

supported which were life-changing for individuals

Nutrition program\ 83% children have shown improvementin Height. 92% of children have shown
improvement in weight. 66% have shown
improvement in mid-arm circumference

Geriatric care
\ Supported 702 for cataract surgery and1,633 with mobile medical van serving
medicine at doorstep

23,423

Lives impacted through CSR programs

7,623
Education

5,144
Health5,547Community Development

5,109

Covid Relief focusing on livelihood
and Education

Education

Community Development\ Integrated School Development Program:
Infrastructure development, Water andSanitation, Hygiene (WASH), life skills andsupport class sessions in 11 schools, benefiting
3,393 students.

\ Soil and water conservation: Excavation work
done in 3,033.80 cum to conserve 3.03 million
liters in a single rain fill up.

\ After-school study centers: Holistic
development of children supported through17 centers in Pune and Hyderabad, benefiting
671 students.
\ Skill development:− 5 courses 453 candidates− Placement ratio 80%− Average income ₹ 9,000 - 12,000 per month\ Drainage line treatment: Reduce water runoff
velocity, reduced soil erosion, elongated water
storage and availability of 0.75 million liters ofwater year round.
\ Farm Pond: 13 structures with 10,816.56 Cum
excavation enabling 1,081.66 million litre water
recharge in a single filling.
\ Recharge Pits: 5 structures with 1,210 cum
excavation work enabling recharge 1.21 million
liters of water covering 10 ha of land.
\ Crop diversification: 70 farmers showed anincrease in income of 10-20 thousand per
farmer and reduced water usage.
\ Silage making: The training was provided
to 70 families and 92 tonnes of silage wereprepared and stored by the farmers ensuring
yearlong fodder for cattle.
\ Support for livelihood: Eklavya Bamboo
Artisanship 2 trades, 220 individuals, 5.1 million
turnover, 2.0 million profit.
\ Renewable Energy Support: Solar Rooftop of
148 kWp installed in 2 schools, 1 hospital and
1 training institute.

40

ESG Report 2022-23

Delivering Value for Our People and Planet

41

Persistent Systems

Corporate Overview Environment Social

Governance

Key Performance Indicators

AnnexureSocialCase Study 1

Case Study 2

Kiran Girls Scholarship and Mentoring Program

Support to Facial Cleft and Palate Surgeries

Our Kiran Girls Scholarship and Mentoring Program focuses on providing scholarships and mentorshipto girl students, enabling them to achieve their dreams by overcoming barriers and excelling in theireducational journey. The program fosters an environment of supporting girl students in their pursuit ofeducation and career opportunities.

This program focuses on providing surgical interventions and comprehensive care to individuals withfacial clefts and cleft palates. Its aim is to improve their quality of life by addressing their medical needs
and facilitating their integration into society.

Scholarship Success

45

Number of girls who passed their
examinations₹ 28 lakhs per annum
Highest package offered38

Key Highlights

Girls placed in job opportunities

Surgical Interventions andComprehensive Care

₹ 8.26 lakhs per annum\ Surgical procedures were
performed to correct facial clefts
and cleft palates.

Average salary\ Pre- and post-operative careprovided to ensure optimal
recovery and outcomes.

Program Participation

Special Support

Number of girl students
onboarded: 147\ Emergency support provided forfamily medical emergencies.

Mentoring programs: 3\ Psychological and emotional
support for patients andtheir families throughout thetreatment process.

Impact on Patients

Location-wise
beneficiaries impacted\ Improved facial appearance
and functionality.
\ Enhanced ability to eat, speak,and communicate effectively.
\ Boosted self-confidence andimproved social integration.
\ Reduction of healthrelated complications andassociated risks.

Bengaluru

Collaborative Efforts\ Participation of 106 students inmentoring programs.

\ Collaborative efforts withexternal organizations.

\ Holistic development throughpersonalized guidance.

\ Engagement with mentors andindustry professionals.

\ Mentors inspiring andempowering girls to
overcome obstacles.

\ Synergies for creating diverse
learning opportunities.

42

ESG Report 2022-23

93
202
320

\ Counselling services are offeredto address personal challenges.

Collaborative efforts

Maharashtra (excluding Nagpur)

Nagpur\ Financial assistance for researchbased course component.

Impactful Mentoring180\ Collaboration with medical
professionals, hospitals, andclinics specializing in facial cleft
and palate surgeries.
\ Coordination with support
staff and volunteers to facilitatesmooth operations andpatient care.

HyderabadContinuous Monitoringand Evaluation

795\ Regular monitoring ofpatients’ progress and postoperative outcomes.
\ Evaluation of the program’s
effectiveness and identification ofareas for improvement.

Total\ Feedback collection frompatients and their families toenhance the program’s impact
and services.

Delivering Value for Our People and Planet

43

Persistent Systems

Corporate Overview Environment Social

Governance

Key Performance Indicators

AnnexureSocialOur People – The Heart andSoul of Persistent

Case Study

Our people are the backbone of our organization. Our team is
made up of talented individuals from diverse backgrounds andexperiences, who bring their unique skills and perspectives tohelp us achieve our goals. In this section, we will explore theimportance of our people and how we empower and support
them to thrive at Persistent.

Project Highlights

Headcount

22,88920,206

377

2,132

174

23%

Global headcountNorth and Central America

India

Rest of the world

EuropeOverall increase in global headcount fromFY 2021-22

Our buildings follow the highest standardsof sustainability to minimize impact on theenvironment while focusing on employee healthand productivity.

44

ESG Report 2022-23

This facility was remodelled with an objective to enhance the interior of the building while preserving
its iconic exterior and structural integrity. Employee feedback and suggestions were incorporated toprioritize well-being and safety.

\ Ergonomically designed furniture, including
adjustable chairs and height-adjustable
tables prioritized employee comfort andgood posture\ Optimal airflow rates in air conditioning
systems and CO2 monitoring sensors
ensured excellent indoor air quality\ Indoor plants and green walls improved
indoor air quality and employee well-being\ Well-being amenities such as wellness
rooms to rejuvenation\ Spacious Cafeterias\ Recreational facilities

Workplace Transformation
Traditional workspaces have been transformed to
Healthy and efficient workspaces with futuristic
approach to the workplace. Few of our old
buildings have been transformed to bring in
the elements of sustainability such as Naturalventilation, day light, green spaces, hybrid
workplaces, large outdoor space, work café, social
spaces for collaboration and recreational zones.

Bhageerath Facility at Pune, India

The below aspects are integrated into the built
and design stage

Supports hybrid work modelOpen and spacious
workstations

Social zone

Enhanced AV
set-ups

Flexible seating
arrangements

Improved
air-quality

Well-being
amenities

Segregation of communication, social,interactive and focus zones
Biophilic design improving health andwell-being in the built environment

IGBC score 85

Received under the Green Interiors
category, 2022

Delivering Value for Our People and Planet

45

Persistent Systems

Corporate Overview Environment Social

Governance

Key Performance Indicators

AnnexureSocialEmpowering
Our People
At Persistent, we recognize that ourpeople are our greatest asset on the pathto achieving our business objectives.
Talent management holds a pivotal rolein shaping our organization’s success.
With this in mind, we have crafted acomprehensive talent management
framework, designed to attract, retain,
and develop the finest individuals who will
drive our growth and innovation. Together,
we cultivate an environment where talentthrives and aspirations are realized.

46

ESG Report 2022-23

Delivering Value for Our People and Planet47

Persistent Systems

Corporate Overview Environment Social

Governance

Key Performance Indicators

AnnexureSocialPerformance Management

Our talent management framework utilizes
the Performance Management process,fostering a shared purpose and direction forteams to strive towards a collective objective.
The Company offers goal libraries to promoteconsistency and structure in setting goals.
Continuous engagement is integral, withperformance feedback provided to managers
and stakeholders to facilitate structured goal
feedback and career discussions.

Rewards

We drive Kudos initiatives that inculcate
the culture of regular and continuous
appreciation of our employees. Quarterly or
annually reward and recognition schemes
enable people managers to recognize good
performance contributions.

Leadership Development

The program focuses on developing
internal talent aligned with business needs,
using an objective and well-structured
assessment center to create career paths
for aspirants. The High Potential framework
evaluates an individual’s ability, aspiration,and engagement. We focus on developing
leaders through Individual Development
Programs(IDPs) and other leadershipdevelopment programs.

48

ESG Report 2022-23

Employee Satisfaction

Our Achievements

Persistent believes in continuous listening
and action planning to improve employee
engagement and connect levels. Monthly
surveys track trends in employee engagement,
empowering line managers and leadership tostay well-connected with the workforce. The
Peakon tool offers state-of-the-art facilities
such as confidential sharing, intelligent
listening, industry benchmarking, and real-time
interactive dashboards.

Persistent Digital Engineering
Academy (PDEA)

Launched Java, DevOps, SDET, MEAN / MERN
and .Net clusters. 1000+ employees havesigned up

1.19 million

Hours of learning across the organization

8.3

89%

Average learning days at par with industry

Employee Satisfaction Score (ESAT)

Persistent University
As we continue to grow, our team ispersistently challenged with new problem
statements related to scalability, security,
adaptability, availability, reliability, and thelikes. The L&D Team continuously strives toenable business growth, and our aim is to meetthe demands of having the right talent poolavailable for immediate project requirements.
Additionally, we are focused on proactively
preparing future ready workforce throughour up-skilling and cross-skilling programsin close collaboration with the businessleaders. We leverage the best in class learning
methodologies, tools, and technologies tocreate the finest learning experience forour employees. All our training programs
are hands-on, involving real time problem
statements and action learning projects acrossall the key competencies – Technical, Domain,
Power Skills, Leadership, Project Management
to ensure we act as catalysts to ensure alearning culture

10,377Hyperscaler certifications

Persistent University is a centralized
strategic function focused on“scaling talent at speed” across theorganization. We promote an active
learning culture that emphasizes
continuous learning and skill
development to stay competitive
in today’s rapidly evolving
market. We continuously facilitate
employee upskilling in line with theorganization, project requirements,
and individual aspirations.”

4,289

Non-Hyperscaler certifications

M. Tech Program

With COEP rolled out for India employees in
Data Science and Cybersecurity standard

Ramanujan
Situated in Hinjewadi, Pune, Ramanujan
represents a cutting-edge facility with
its ground floor exclusively dedicatedto Persistent University, providing
space for approximately 300 learners
simultaneously. This facility serves as yet
another testament to The Persistent Way,highlighting our steadfast commitment
to empowering our workforce with theessential skills and knowledge required
for achieving professional excellence andpersonal growth.

Delivering Value for Our People and Planet49

Persistent Systems

Corporate Overview Environment Social

Governance

Key Performance Indicators

AnnexureSocialFlagship Programs

Technical Academy

ASPIRE - Currently
offered in India

WINGS - Currently
offered in India\ To develop Project andProgram Manager’s
mindset and relevant skills\ Delivery Partner and
Delivery Head rolereadiness programs,
aiming to build a pool of
future leaders

Women leadership programfor high-potential women
employees, aiming to increase
women representation inleadership positions.

Women on their career
break, bringing them back to
corporates through hands on
trainings and mentorship.

GEMS

Certification

TExT

Experiential ProgramsHigher Education

Domain Trainings

Graduate Engineers with
Multidimensional Skills(GEMS) program for Industryreadiness and Persistentreadiness for campus hires

Certification Programs inthe 5 critical Hyperscalers(AWS, Microsoft, GCP,
IBM and SFDC)\ Technical products POCs

For Team Success & Fresh
Grads activity-based, action
oriented, team-building
programs focussing on ONE
TEAM, and ‘We are One
Persistent’ mindset.

\ M. Tech Programs -India,
in collaboration with COEP
Tech University.

Domain knowledge training
program to ensure skilling of
employees across roles andgrades in following the areas:\ Anchor & Propeller\ Development programfor Architects andSenior Architects

Project Management
Academy\ Falcon & Avenger

Leadership Academy\ JARVIS & Pinnacle\ Bench enablement
program based on
hands-on learning

As a one-stop learning
destination, Persistent University
provides a comprehensive
learning experience with courses
to improve technical, domain
and leadership skills, business
communication, management,
and behavioral skills.”

50

ESG Report 2022-23\ MS programs - Americas,
in collaboration with
88th QS ranked Georgia
Tech University.

100+

60%

350

40%

Digital tech courses

Technical and power skill courses

My Learning Path tobecome a Certified
Professional
Meet-up sessions with focus
on Hyperscaler Certifications– IBM, Salesforce, AWS,
Azure and GCP.

\ BFSI\ CMT\ HLS

Formal training

Hands-on training

Delivering Value for Our People and Planet

51

Persistent Systems

Corporate Overview Environment Social

Governance

Key Performance Indicators

AnnexureSocialOccupational Health and
Safety (OHS)
We prioritize the well-being of our people by providing a safe, secureand healthy workplace. Our Environmental Health & Safety (EHS) Policy
underlines our dedication to creating a safe environment, encompassing
regular safety trainings and equipping our workforce with the necessary
protective gear. With utmost empathy, we strive to foster a work culturethat nurtures the physical and mental well-being of each individual.

Our top priority at Persistent has always
been to ensure the health and safety of ourassociates while safeguarding the interests of thecommunities in which we operate.
\ The EHS policy is followed in letter and spirit
by every individual including our partners andsupply chain.
\ Our Environmental health and management
system adheres to ISO14001:2015 and ISO
45001:2018 standards, covering all our
locations in India.

\ EHS trainings are provided to build awarenesson environmental conservation, climate actionand Health and safety aspects such as first-aid,
fire safety, office safety, reporting of near-miss,accident and incidents are provided as andwhen necessary.

\ Overseas, we have implemented processesaligned with legal requirements and ensurecompliance across our global operations.

\ Job-specific training is regularly conducted
for contractual staff during induction and later
through refresher courses.

\ We conduct comprehensive environmental,
health, and safety impact assessments forour business activities and incorporating OHS
considerations into our business decisions.

\ Persistent believes that it is no longer about
Work Life balance, or work life integration but
it is about Work Life Harmony. As part of My
life @ Persistent we conduct events under fourpillars - Physical Wellness, Emotional wellness,
Social wellness and Financial wellness.

\ Our people participate in various committees
and hobby clubs under My Life at Persistent.
Through these committees our people consult
with the committee members to discuss on
well-being, fitness, Health and Safety, Food,
Health benefits and other related matters.
\ We consult our stakeholders to provide
necessary inputs to manage and mitigate
EHS risks.

52

ESG Report 2022-23\ Hazard identification, risk assessment, andincident investigation process help us to identify
work-related hazards and assess risks on aroutine and non-routine basis, and to apply
the hierarchy of controls in order to eliminate
hazards and minimize risks.

\ We evaluate and continually improve
the Environment health and safety
management system.
\ During the reporting year there has been nowork related reportable injury/ill-health.

Delivering Value for Our People and Planet

53

Persistent Systems

Corporate Overview Environment Social

Governance

Key Performance Indicators

AnnexureSocialMyLife At Persistent:
Promoting Well-being

Physical Well-being

Emotional Well-being

Recognizing the necessity of prioritizing
physical well-being, we endeavored
to empower our people to embrace awholesome, health-oriented lifestyle.

Understanding the profound impact emotional
well-being has on overall quality of life, we
strive to create a nurturing environment whereindividuals can flourish emotionally, fostering
personal growth and fostering an enduring
sense of fulfilment.

Wellness Talks
Educational sessions on various health topics

Health Program
Programs like “Get Fit Online” and trekking trails to
promote fitness and healthy lifestyles.

Annual Health Check-up
Company-sponsored check-ups in offices,pathology labs, and home sample collection.

Persistent Run
Flagship event promoting physical fitness andparticipation in running.

One-on-One Sessions
Individual consultations with doctors
and nutritionists.

One-on-one Counselling Sessions
Supportive counselling for employees dealing withemotional challenges.

Vibrant Minds
Workshops to help employees handle various
phases of life, covering topics like parenting,belief systems and relationships.

432 events

Around fitness, health, women intech, work-life balanceSocial Well-being

Financial Well-being

We have introduced a range of social initiatives
that have been enthusiastically embraced
by our employees, each initiative designed
to redefine the meaning of fun and forge
meaningful connections.

To foster financial strength and stability, wehost webinars in collaboration with market
experts, focusing on financial well-being. Byequipping our employees with the knowledge
and tools to make sound financial choices, we
strive to alleviate financial stress, unlock peaceof mind, and create an environment whereindividuals can truly enjoy life to the fullest.

Hakuna Matata
Fun sessions to connect and bond with colleagues
through games, quizzes, and more.

Pulse
Annual cultural fest with team games, talent shows,and performances from teams worldwide.

Make your Money Work
Webinars and discussions on financial topics suchas savings, investments, and wealth management.

Art Fest
Virtual event showcasing the artistic talents of
employees globally.

Voice of PersistentSinging competition live-streamed for employees toenjoy from home.

Communities
Social communities for arts, gardening, food,music, dance, and more.

Clusters
Local meets and collaborations based on
geographic locations.

Communities

Milestone Celebrations

Sports communities and activities like cricket,
volleyball, cycling, and more.

Special celebrations for employees completing
15 years with Persistent.

MyLife At Persistent aims
to create a harmonious
work-life environment andpromote the happinessand health of employees
at Persistent.

Indoor Sports Tournament
Competitive tournaments in carom, chess,badminton, and table tennis.
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Persistent Systems

Corporate Overview Environment Social

Governance

Key Performance Indicators

AnnexureSocialDiversity, Equity, Inclusion andBelonging
At Persistent, we recognize the immense value of diversity and inclusion
in driving innovation and creating a thriving workplace culture. We arecommitted to fostering an environment where every individual feels
empowered, respected, and valued, regardless of their background.
Our dedication to Diversity, Equity, Inclusion, and Belonging (DEIB) is deeply ingrained in our corevalues and is reflected through our policies and practices. Diversity is driven at a strategic and culturallevel to address the diversity-related needs of the organization. Our focus on diversity and inclusivity
covers the following 4 Es of Enable, Empower, Engage and Employ.

EnableRecognizing and Celebrating
Differences

We appreciate the unique qualities andperspectives that each individual brings to
the table, irrespective of age, race, national
origin, ethnicity, cultural and geographicalbackground, gender, sexual orientation,
religion, marital status, any medical conditions,or any other personal or physical aspect.

Building a Diverse Workforce

We strive to attract and retain top talentfrom diverse backgrounds, ensuring that
our workforce reflects the diversity of thecommunities we serve. Focused job fairs andfocus on being global and hiring local. Every
year we onboard fresh graduates from colleges
and universities

Gender Parity

We are committed to achieving gender parity
within our organization, promoting equal
opportunities for individuals of all genders.

Inclusive Physical Infrastructure

Physical Accessibility and Assistive
Technologies

Persistent offices are accessible to differentlyabled people and have accessible parking
spaces, accessible ramps at the entry points,
disabled friendly washrooms, workstations aredesigned in such a way that the wheelchairusers can easily access, height adjustableworkstations and so on.. We follow Web
Content Accessibility Guidelines (WCAG) tomake our digital infrastructure accessible andprovide assistive technologies to individual
where required. We continue to improve bymaking physical and digital infrastructurechanges wherever necessary as per thereasonable accommodation request by
the individuals.

D&I Dashboard

The people analytics tool enables the businessand HR leadership with DEI real time metrics
to facilitate timely decision making on hiring,career development and retention of thediverse talent pool enabling proactive actions
towards the corporate goal.

Both our Physical and digital infrastructure areaccessible by People with Disabilities.

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Persistent Systems

Corporate Overview Environment Social

Governance

Key Performance Indicators

AnnexureSocialEmpower
We regularly review and improve our policies
to address the specific needs and challenges
faced by our people, promoting inclusivity at
every level.

DEIB Champions

Employees from various regions act as
spokespersons, advocating for best practices
and ensuring that every employee feels equallyimportant and valued.
\ Leadership trainings to create awarenessaround DEIB: #IAmRemarkable Workshops
for women. Empowering women tocelebrate their achievements at theworkplace and outside\ Gender sensitization for managers to help
them equip manage diversity among
their teams\ Cultural sensitization for our
global workforce

EngageOur learning platform offers a range of training
programs to support diversity initiatives andempower our diverse workforce.

Women’s Empowerment Programs

We provide mentorship, leadership training,
and workshops to promote the growth anddevelopment of women within Persistent
Systems, fostering a strong support network.

Employee Resource Groups (ERG)

Through initiatives like Prerana, a forum run
by women employees, and holistic well-being
programs, we promote work-life harmony andprioritize the physical, social, financial, andemotional health of our workforce.

EmployEqual Opportunity Employer

Our recruitment practices ensure fairness
and non-discrimination, providing
equal opportunities to individuals fromdiverse backgrounds.

Calibrating Diversity Impact

30.8%

Female representation in the workforce

11.14%

Senior management female representation

We regularly assess the impact of ourrecruitment strategies on organizational
diversity, making tactical adjustments toensure inclusivity.

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Persistent Systems

Corporate Overview Environment Social

Governance

Key Performance Indicators

AnnexureSocialSupply Chain Management
At the heart of our seamless business operations lies our invaluablesupply chain. It encompasses a diverse range of services essential
to our success. We are committed to providing opportunities
to diverse businesses and integrating the UNGC principles into
our supply chain and towards building a positive long-term
environmental and social impact.

We firmly believe in conducting affairs withthe highest level of integrity and fairness. Our
Vendor Code of Conduct ensures all Persistent
vendors shall conduct their business activities
in full compliance with the applicable laws andregulations of their respective countries and inrespect of their transactions while conducting
business with and/or on behalf of Persistent
including but not limited to:\Complying with all applicable trade control
and applicable laws, as well as all export,
re-export and import requirements\

Complying with all applicable
environmental laws\

Complying with the anti-corruption laws of
the countries in which they do business\

Being honest and fair in discussions withregulatory agency representatives andgovernment officials and in all of theirbusiness transactions.

Persistent vendors
play a crucial role inmaintaining a culture of
integrity, compliance,and responsible businesspractices. Together, weuphold the highest ethicalstandards and contributeto the success andreputation of Persistent
Systems Limited
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Vendor Code of Conduct leverages the UNGC
principles including protecting and upholding
internationally proclaimed human rights,
endorsing treating all persons with respectand dignity while safeguarding their rights, theelimination of forced and compulsory labor, theabolition of child labor in the supply chain andstrong corporate governance practices including
anti-corruption and bribery and promoting Fair
Business Practices across the supply chain.
As an environmentally-conscious organization, weurge our suppliers to protect the environment bypracticing green procurement and emphasizing
the importance of health and safety in
its workplace.
During the reporting period, there were no
significant changes in our organization’s size,
structure, ownership, or supply chain. There havebeen no environmental and social impacts in the
supply chain.
To evaluate and approve vendors, we follow
a comprehensive Procurement Policy.

Supplier Diversity
Supplier diversity is an integral part of oursourcing process, where we prioritize diverse
suppliers who align with our values and corporate
governance practices.

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Persistent Systems

Corporate Overview Environment Social

Governance

Key Performance Indicators

Annexure

Governance – Goals and Ambitions

Steering the Path to Excellence
We strive to practice the highest standards of governancefor the benefit of our stakeholders. We ensuretransparency, accountability and integrity at every level ofthe organization, and we have policies and committees inplace to address governance issues.

Ethical Conduct
Ambitions

Progress in FY 2022-23

2023

99%

100% training in code of conduct

Completion of Code of Conduct training*Zero tolerance for unethical andnon-compliant behavior

Risk and Compliance
Governance Vision

Create value for stakeholders
by integrating ESG with ourbusiness

UN SDGs Aligned

Ambitions

Progress in FY 2022-23

To be recognized as industry leader in
information security and cloud practices

Enhanced the security controls by
investing in advance security platforms
like CNAAP, Cloud SIEM etc.

Use information governance to effectively
manage data privacy and security related risks

No data breaches reported in
FY 2022-23

Human Rights
Ambitions

Progress in FY 2022-23

Protect the rights of all employees acrossall locations

We deeply honor and safeguard thehuman rights of our diverse workforce,
fostering an environment freefrom discrimination

Practice “One Persistent, One Family”* % of employees who are not covered under Code of Conduct training are those who are on long leave and inactive status.

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Persistent Systems

Corporate Overview Environment Social

Governance

Key Performance Indicators

Annexure

Governance

Building a Foundation of
Sustainability and EthicalResponsibility
At Persistent Systems Limited, we prioritize the importanceof upholding exemplary standards of Corporate Governance,
driven by our unwavering dedication to creating long-termvalue for all stakeholders. Our steadfast commitment to theseprinciples is deeply embedded within our organizational
fabric, ensuring that we maintain the utmost level of corporate
governance across all levels of the company.
Our Management Team focuses ontransparency, accountability andintegrity. We closely monitor and track
all regulatory compliances applicableto our operations through a web-based
compliance management tool. Our
Company has developed a comprehensive
set of policies to ensure adherence to thehighest standards of corporate governance.
These policies include the Ethics Policy,
Code of Conduct for Directors andemployees, Vendor Code of Conduct,
Code of Conduct for Prevention of Insider
Trading, Anti-corruption Policy, Fraud Risk
Management Policy, Anti-human Trafficking
Policy, Environmental Health & Safety (EHS)
Policy and Whistle-blower Policy.

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ESG Report 2022-23

To enforce compliance with these policies,
all employees and management across ourbusiness operations are required to reaffirm
their commitment to the Code of Conduct
for Directors and employees on an annual
basis, which includes anti-corruption policies
and procedures.

ESG Governance

It is a constant endeavor of the Company
to conserve and preserve the environment.
Over the years, the Company has focused onsustainable business practices encompassing
economic, environmental and social
imperatives. The Company also works through
Persistent Foundation, to support projects inthe areas of environmental sustainability andecological balance.
To maintain and nurture harmonious relations
with all these stakeholders, the Company has
established elaborate mechanisms. The Company
is committed to global sustainability goals and has
pledged to track and improve on metrics definedas part of the ESG efforts of the Company.
The Stakeholder Relationship and ESG committee(SRC) specially looks after the interests of ourinvestors, shareholders and any other security
holders as mandated by the law. In order to have
Board level attention to the Company’s ESG
initiatives, these have been brought under thepurview of Stakeholder Relationship Committee,
which has been renamed as “Stakeholder
Relationship and ESG Committee.”
The Company believes in raising the bar andupholding the highest standards of Corporate
Governance as it enhances the long-termvalue of the Company for its stakeholders.
Good governance is an essential ingredient ofgood business.

The Stakeholder Relationship and ESG
committee (SRC) plays a crucial role in theorganization’s commitment to sustainable
practices and responsible business operations.
This committee is responsible to oversee theEnvironment, Social and Governance (ESG)
initiatives at Persistent including but notlimited to: etting the tone and reinforcing the culture within
S
the Company regarding sustainability, promoting
open discussion and integrating ESG strategy andits alignment with Company’s strategy and goals
 ndorsing the ESG vision and goals set out on anEongoing basis
 eviewing and monitoring ESG framework, theRprogress against the stated vision and goals,
disclosures and reporting roviding guidance and monitoring key
P
environmental, social and governance issues suchas climate-related risks (current and emerging) andopportunities, resource efficiency and circularity,
responsible sourcing and value chain sustainability,
labor practices and human rights, good
governance practices and social responsibility
 ooking into material issues and areas of interest
Lthat are of importance to stakeholders
Ensuring transparency and reporting on
approach to ESG matters to employees,
customers, suppliers, investors, communities andother stakeholders

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Corporate Overview Environment Social

Governance

Key Performance Indicators

Annexure

Governance

Performance
Evaluationof the Board
We follow a comprehensive
performance evaluation process
to ensure accountability andeffectiveness in our operations.
It encompasses the annual evaluationof the Board, the Chairman,
its Committees and Directors
individually, including Independent
Directors. To conduct this evaluation,
we engage an external management
consultant who specializes in board
evaluations. The evaluation process
involves seeking input from Directors
and Senior Management.

10

7/10

3/10

2/7

Board of Directors

Executive Directors

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Independent Directors

Women Independent
Directors

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Corporate Overview Environment Social

Governance

Key Performance Indicators

Annexure

GovernanceThe criteria for evaluation includes board composition and structure,effectiveness of board processes, information and functioning,
qualitative comments, and future of the board and other relevant
factors. The evaluation was conducted in March and April, 2023. The
findings are then presented at the meetings of the Nomination andRemuneration Committee and Board of Directors providing valuable
insights for continuous improvement and decision-making.
Board of Directors at
Persistent Systems Limited

Directors’ Role andResponsibilities

The Board of Directors at Persistent Systems
Limited comprises a diverse mix of Executive,
Non-Executive and Independent Directors,
each bringing their wealth of professional
expertise to the table.

Our Directors play a crucial role in guiding us
towards our goals and ensuring the interestsof stakeholders are upheld. They exercise
business judgement in the best interests of ourCompany and the stakeholders. The Directors
actively participate in defining goals, strategies
and targets, contributing their expertiseand insights.

Our Independent Directors meet the criteria
set forth by the Securities and Exchange Boardof India (SEBI), ensuring their impartiality andindependence in decision-making. The Board
is chaired by a full-time Executive Director who
leads the proceedings and provides guidance
to the Board members.
We value the diverse perspectives andindustry experience that our Board members
bring to the table. Through their collective
expertise, they provide strategic direction andgovernance oversight to steer the company
towards sustainable growth and success.

Additionally, our Directors address
shareholders’ questions during General
Body Meetings and facilitate dialogue withshareholders. There is a structured process
in place for board-level appointments toensure transparency and the selection ofhighly qualified individuals. The observations
and feedback from the previous year’s
evaluation are also included in the Directors’
Report, further enhancing transparency
and accountability.

We take performance evaluation seriously, aiming tocontinuously improve our operations and ensure thehighest level of accountability. Directors actively contributeto our success and uphold their responsibilities towards
stakeholders. Compliance affirmation and ethical businessconduct are integral to our values and are reinforced
through regular reminders and guidelines.”

Compliance Affirmation andEthical Business Conduct
Persistent places a strong emphasis onCompliance and Ethical Business Conduct.
Compliance affirmation is obtained annuallyfrom Directors and Senior Management. We
ensure that all employees, without exception,comply with the established regulations
and guidelines.
To promote Ethical Conduct, we regularly
remind our employees and stakeholders
about the importance of making informed
decisions and avoiding personal benefits that
may compromise our integrity. Guidelines areprovided to prevent the misuse of confidential
information and to maintain the highest
standards of professionalism and integrity
throughout the organization.

Refer to the detailed Corporate Governance
Report in the Annual Report 2022-23

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Persistent Systems

Corporate Overview Environment Social

Governance

Key Performance Indicators

Annexure

Governance

Human Rights Protection
At Persistent, we hold a profound respect for and protect the humanrights of our diverse employees. We cultivate an inclusive environmentthat is devoid of any form of discrimination, be it related to race,
gender, religion, or any other distinguishing characteristic. Our
comprehensive Human Rights policies act as a moral guide, firmly
establishing our unwavering dedication to preserving these essential
values throughout our entire organization.

At Persistent, we are committed to upholding the highest
standards of human rights in our operations and supply chain.
We recognize that our responsibilities go beyond our legal
obligations and extend to the communities in which we operate
and the environment we all share. We will continue to work
diligently to ensure that we respect and protect the human rights
of all individuals impacted by our business.”

All our people, including our security personnel
are trained on Human Rights policies andprocedures. Our people can report any violationsof Human Rights or other unethical practices
without fear of retaliation. We address all
grievances and investigate them equally andthoroughly. We also protect the identity of thewhistle-blower and ensure that they are notsubjected to any retaliation.
Non-discrimination and Anti-harassment Policy
promotes a workplace free from prejudice.
Our policy addresses both sexual and non-sexual
harassment, and we ensure that our employees
are equipped with the necessary knowledge topromote a respectful environment through regularsessions integrated into our Code of Conduct
training. Our publicly available policies upholds
our dedication to human rights, encompassing
issues such as human trafficking, forced labor,
equal remuneration and discrimination.

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Freedom of association andcollective bargaining
Our policies, committees, support groups andother channels are available for hearing andaddressing the concerns of our people andresolving their issues or conflicts in a timely,
fair and transparent manner. We recognize
the right to freedom of association throughindependent Trade Unions, Work Councils (WCs)or Collective Bargaining Agreements (CBAs) as
per the regional laws where we operate. However,this is mostly voluntary through which our people
participate and discuss.

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Corporate Overview Environment Social

Governance

Key Performance Indicators

Annexure

Governance

Ethics at Persistent Systems

Upholding Integrity, Trust and Compliance
Persistent Systems is committed to ethical practices, ensuring
integrity and trust in all business dealings. The Company’scomprehensive ethics policy applies to all employees,
promoting high standards of conduct.

By promoting ethics,
Persistent Systems nurturesa culture of integrity, trustand compliance. Upholding
these values enhances
the Company’s reputationand fosters a positive work
environment.

Code of Conduct:
Maintaining Exemplary Behavior

Compliance with Laws:
Adhering to Regulations

Insider Trading:
Preventing Misuse of Information

Persistent Systems’ Code of Conduct
establishes good corporate governance andpersonal conduct as fundamental principles.
It emphasizes honesty, integrity and fairness
in all actions, both on behalf of the Company
and individually.

Adherence to applicable laws, rules
and regulations is a priority for all
employees. Persistent Systems ensures
meticulous compliance, both in letter andspirit, promoting ethical behavior andmaintaining legal obligations.

Employees must not exploit insider
knowledge for personal gain or assist
others in doing so. Compliance with
the Company’s insider trading policies
ensures fair and transparent markets.

Conflict of Interest:
Safeguarding Company Interests

Confidentiality:
Safeguarding Sensitive Information

Employees are expected to avoid conflicts ofinterest that could compromise the Company’s
well-being. This includes refraining from personal
activities that conflict with their responsibilities
or undermine the Company’s interests, ensuringtransparency and accountability.

Employees are entrusted with confidential
information, requiring utmost discretion.
They must maintain confidentiality unlessauthorized or legally required to disclose
information, protecting sensitive businessdata and maintaining trust.

Gifts and Donations:
Transparency in Business
Relationships

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ESG Report 2022-23

Accepting or offering gifts, donations
or benefits that may influence businessdecisions is strictly prohibited. However,nominal gifts for special occasions may
be acceptable, ensuring transparency
and fair practices. We did not make any
contributions to and spending for political
campaigns, political organizations, lobbyists
or lobbying organizations.

Protection of Assets:
Responsible Use of Resources
Persistent Systems emphasizes responsible
use of Company assets, discouraging
personal gains at the expense of the company.
Employees are expected to prioritize thecompany’s interests and protect its resources.

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Persistent Systems

Corporate Overview Environment Social

Governance

Key Performance Indicators

Annexure

Governance

Code of Conduct for Directors and Employees

Tax Strategy andGovernanceMembership andAssociations

At Persistent Group, the Code of Conduct for Directors and employees is a vital tool in
upholding high standards of business conduct and promoting ethical behaviour. Derived fromthe principles of good corporate governance, corporate citizenship and personal conduct, thisCode serves as a compass for all individuals within the organization.

Approach to Tax

Our active participation in trade and industry
associations allows us to stay informed aboutindustry developments, contribute to policy
discussions and foster collaboration within thebusiness community.

\ Directors and Employees must avoid deriving
undue personal benefit from their positions
or access to confidential information.
\ The Board of Directors, overseeing various
companies within Persistent Group, has afiduciary duty to act in the Company's bestinterests and protect the environment.

\ Conflicts of interest are strictly
prohibited, encompassing any business,relationship, or activity that contradicts theCompany’s interests.
\ Directors and Employees must not allow
personal interests to clash or appear to clash
with the Company’s well-being.
\ Any situation where personal gain is expected
due to their position within the Company or
through family members constitutes a conflictof interest.

99%
Employees trained on Code of Conduct% of employees who are not covered
under Code of Conduct training are those
who are on long leave and inactive status.

As regulatory compliance is a key objective for
Persistent, tax compliance is a priority in every
jurisdiction where the Company operates.
Persistent is committed to being fully compliant
with regards to its statutory filing obligations andtimely payment of tax dues. The Global Tax teamis responsible for day-to-day tax compliances in all
jurisdictions where the Company operates.

Tax Governance, Control and Risk
Management
Persistent’s tax risk management, governanceand controls include measures and tools toensure that the Company can identify, assess,manage and mitigate any operational reporting,financial reporting and compliance tax risks in all
the countries where it operates. External advice
is sought on matters where there is significant
uncertainty or complexity in relation to a risk.
Changes in tax laws are monitored on regularbasis to assess its impact on our business.

Stakeholder Engagement andManagement of Concerns Related to Tax
Persistent engages with tax authorities globallywith honesty, integrity, respect and in a spirit ofcooperative compliance. Persistent is committed
to prompt disclosure and transparency in all tax
matters with respective tax authorities. From
time to time, we may be subject to audit in the
countries where we operate. In the course ofsuch audits, it is our endeavor to be transparent
with tax authorities, providing relevant facts
and documentation and to resolve disputes
constructively and in a timely manner on current,
future and past tax risks.
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Persistent Systems

Corporate Overview Environment Social

Governance

Key Performance Indicators

Annexure

GovernanceRisk Management
We, at Persistent Systems are committed to proactive and effective
risk management to safeguard the interests of our stakeholders andensure the long-term sustainability of our business.
Our robust Risk Management Frameworkencompasses a structured approach to identify,
assess and mitigate risks across all areas of ouroperations. By integrating risk management
into our decision-making processes, we strive
to enhance business resilience, protect our
reputation and seize opportunities for growth.
Through a collaborative and proactive approach,we continuously monitor and manage risks to
uphold our commitment to delivering value andmaintaining the trust of our stakeholders.

Risk Management Committee
The Committee was constituted with powers
and responsibilities including but not limited
to formulate a detailed risk management
policy which shall include:\ A framework for identification of internaland external risks specifically faced by thelisted entity, in particular including financial,
operational, sectoral, sustainability(particularly, ESG-related risks), information,
cyber security risks, or any other risk as may
be determined by the Committee\ Measures for risk mitigation including
systems and processes for internal control
of identified risks

Business Continuity Plan
\ To ensure that appropriate methodology,
processes, and systems are in place tomonitor and evaluate risks associated withthe business of the Company

Risk Governance Structure

Board ofDirectors

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ESG Report 2022-23

Risk Management
Committee(RMC)\ To monitor and oversee the implementationof the risk management policy, including
evaluating the adequacy of risk
management systems

CRO Office

Risk Officers\ To periodically review the risk management
policy, at least once in two years, including
by considering the changing industry
dynamics and evolving complexity\ To keep the Board of Directors informed
about the nature and content of its
discussions, recommendations and actions
to be taken\ The appointment, removal and terms of
remuneration of the Chief Risk Officer (ifany) shall be subject to review by the Risk
Management Committee.
\ To seek information from any employee,
obtain outside legal or other professional
advice and secure the attendance ofoutsiders with relevant expertise, if itconsiders necessary.

Review Financial and Risk
Management Policies\ To review report on compliance of laws andrisk management including cybersecurity,
reports issued by Statutory / Internal
Auditors; and\ To carry out any other function as ismentioned in the terms of the Risk
Management Committee and entrusted
by the Board

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77Persistent Systems

Corporate Overview Environment Social

Governance

Key Performance Indicators

Annexure

GovernanceApproach to Risk Management
Persistent has a well-defined Risk Management
Framework that includes a Risk Management
Policy, risk management processes, risk
governance and risk awareness programs. We
have setup an Enterprise Risk Management (ERM)
function, headed by the Chief Risk Officer (CRO)supported by his team to enable achievement of
the Company’s strategic objectives. CRO works
closely with the various organizational units andtheir leadership to facilitate the risk management
process. This encompasses identification ofrisks, assessing them in the business context,
framing and developing the risk response strategy,
prioritizing the risks, continuous monitoring andreporting to the executive leadership and Risk
Management Committee (RMC) of the Boardfor their regular oversight. ERM frameworkencompasses all Company’s risks, such as
strategic, operational, reputational, financial andcompliance risks.
Given the changing global landscape ofmacro-economic (increasing inflation levels,
higher interest rates), geopolitical, climate change
and disrupting technologies, thorough adoptionof Enterprise Risk Management processes has
become a necessity for strengthening businessresilience. Operating in an uncertain andever-changing environment brings new risk andmay amplify existing risks thus strong enterpriserisk management practice will be instrumental in
keeping the Company focused and ensuring thestrategic objectives are achieved.

Enterprise Risk Management
Framework
In the evolving business environment with
innovations, accelerated diversified businessactivities, changing regulatory landscape andincreased security risks, it becomes necessary
to have robust but agile approach to keep threats
under control. Efficient risk management should
be built around four key aspects:\ Maintaining strategic alignment,\ Focusing on vulnerabilities,

ESG Report 2022-23\ Prioritization of risks by respective
organizational unit heads to address them andaccomplish common organizational objective\ To maintain a risk register and monitor
and update emerging risks for continuous
risk assessment\ To build risk management based internal
audit plan to enhance risk and control
framework effectively\ To integrate mitigation plans devised by therisk owners in the day-to-day activities and tomonitor them very closely\ To seek re-assessment of risk and revised
mitigation plans if those are found ineffective\ To report the risk to the Executive Management
and the Risk Committee\ Facilitating decision-making and,\ Building a dynamic risk mitigation culture.
There are dedicated forums involving leadershipand CRO Office to address operational andcontractual related risks.
Developing an agile risk-based approach is
required to mitigate threats and to make timely
decisions to explore potential opportunities.

At Persistent, successful governance of critical risk is a strategic investment for sustainable growth.
It is meant to prepare the company for a wide range of possible crisis in its growth journey.
Some of the key risks in the current business environment are given below:

Key Risks

Risk Management Process
Cyber-attack
and hacking risk

ReportIdentify Risk

MonitorAnalyze
Prioritize78\ To analyse existing as well as newly identified
risks to form the basis of determining how
risks are managed in terms of its probability
and impact. The risk areas are categorized into
strategic, financial, operational, reputational andcompliance perspective for further assessment

Evaluate

Risk Triggers

External attacks on
network, malware,compromised
credentials, Businessemail compromise via.
Phishing and othercyber security risks
may result in data loss
and loss of reputation.

Financial Implications of
the Risk or Opportunity

Measures for
Risk Mitigation(positive or negative implications)

1. Implementation of advance XDR
solution on all endpoints to ensureadvance end point security protection
from ransomware, malware.

Negative

2. Quarterly phishing assessment toassess the user awareness.
3. Implementation of Privileged Access
Management solution to provide
additional security to identity.
4. Implementation of enhanced dataleakage prevention platform to protect
the critical data Deployment of Zero
Trust to further secure the corporate
infra, data and apps.
5. Validation of security posture annuallyby third party.
6. Focus on endpoint patching toachieve desired compliance level,
implementation of advanced endpoint
protection solution, multifactor
authentication enablement, dark/deep
web monitoring, cloud disaster recovery
solution and information security
awareness and trainings are some of themeasures adopted to reduce this risk.

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Governance

Key Performance Indicators

Annexure

Governance

Key Risks

Data privacy

Risk Triggers

Persistent operates
globally and hence
needs to be compliant
with the data privacy
laws of the local
jurisdiction.

Measures for
Risk Mitigation
1. ISO 27701:2019 - Privacy Information
Management System certification

Financial Implications of
the Risk or Opportunity

Key Risks

Risk Triggers(positive or negative implications)

Negative

2. Implementation of data classification at
the time of data creation itself

Talent demandand employee
attrition

3. Enhanced data leakage prevention
ensuring need to know basis data
sharing

During the year
we have observed
downward trend in
attrition. However,demand for certain
niche skills/ talentcontinues.

4. Privacy by design implementation in all
the software development activities

6. Enforced restriction on data movement.
7. Frequent audits to ensure consistencyin operations
8. SOC 2 Type 2 attestation
9. Implementation of privacy by design;awareness sessions, trainings andregular audits

Foreign
Exchange
Risks

Risk ofeconomic
downturn

Net foreign exchange earnings are hedged
on 12 months rolling basis to cover 45%
to 70% of net open positions. Guidancefrom the Board members is obtained every
quarter hedging quantum.

Higher inflation,rising interest rates,
geo-political andmacro-economic
developments may
impact the growth ofbusiness.

Focus on an increase in the diverse
customer base helps reduce this risk tosome extent.

Delay in collectionof customer dues asa result of the global
economic situation.

Structured process of collection is in place.

Credit Risk

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Socialmedia risk

Negative

Globalregulatory risks(emerging risk)

Close monitoring of exchange rate
movement is done.

Negative

Enhanced focus on customer connects
and relationships.

Credit Control Policy has been formulated
which limits the credit to be given to thecustomer based on credit check findings
and monthly revenue run-rate of that
customer.

1. Renewed focus on assimilation of
new talent and nurturing talent withinorganization

Negative

2. Focus on employee well-being,wellness initiatives covering physical,
financial, psychological well-being
3. Enhanced employee engagement /retention practiceDisclosure of corporate
or client information
on social media byemployees or former
employees

Employee awareness trainings organized,
and social media policy is in place.

Negative

Failure to comply
with existing statutory
regulations, newregulations, oramendments toexisting regulations(e.g., immigration,
payroll and social
security, taxation,
health and safety,
employment laws, data
privacy laws) where
the company operates
globally, may have an
impact.

Company uses the Compliance Manager
Tool to report and monitor the regulatorycompliances applicable to the Company.
The Company also updates the Tool on
ongoing basis with the amendments inthe existing regulations and inclusion of
newly introduced legislations, if any.

Negative

Climate change isincreasing the periodicity
and intensity of someextreme weather events
such as heat waves, cold
waves, tropical cyclones,
floods, cases of seasonaldiseases, epidemics,
and pandemics. Extreme
weather events may havean associated threat
to human safety andbusiness operations.

1. Persistent Systems facilities across India
have been certified to ISO 14001:2015

More emphasis on upselling and crossselling within industry verticals is thrust.

Regular follow-up process is done for all
overdue invoices.

(positive or negative implications)4. Offices in locations closer to ouremployee to facilitate hybrid working
model with effective collaboration andteam bonding

5. Role based access to critical corporate
data.

The inflationarypressures in the global
economy and the geopolitical situations are
resulting in volatility inthe currency market
and may have an
impact as Persistent
Systems is operationalin several geographies.

Financial Implications of
the Risk or Opportunity

Measures for
Risk Mitigation

Negative

Sustainability
Risks - Climatechange(emerging risk)

Compliance status is placed before
the Audit Committee of the Board of
Directors and the Board of Directorsof the Company in their meetings at
frequent intervals.
The Company has also appointed the
local consultants in various geographies
to advise and help the Company to theensure the compliances in respective
geographies.
Negative

2. Persistent Systems has distributed
operations, enablement of remote
working, agile delivery focus and periodic
testing of business continuity plans
3. Employee awareness building aroundconservation of resources to strengthen
our business resilience
4. As a responsible Corporate, Persistent
Systems makes use of renewable energy
to reduce carbon footprint.

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Corporate Overview Environment Social

Governance

Key Performance Indicators

Annexure

Governance

Climate Change
and TCFD
Reporting
Climate change and TCFD
reporting In line with the Task
Force on Climate-related Financial
Disclosures (TCFD)
Governance

The Board’s oversight of climate-related issues isthrough the Risk Management Committee, Stakeholder
Relationship Committee & ESG Committee and CSR
Committee. Performance against ESG goals are presented
to SRC & ESG committee.

Risk Management

We recognize the growing scale of operations andcomplexities related to ESG risks. Enterprise Risk
Management identifies risks including climate-related risks
and measures for risk mitigation.

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Key Performance Indicators

Annexure

Governance

Strategy
In this section we disclose the actual and potential impacts of climate-related risks and opportunities
on the organization’s businesses and strategy where such information is material.

Type

We strive to consider the impacts of climate change to our business. This includes the risks andopportunities presented by rising temperatures, climate-related policy, and emerging technologies inour changing world. Identified relevant climate-related risks and opportunities as detailed below.

Climate-Related Risks

Potential Impacts

Mitigation/Opportunities\ Increased stakeholder
concern and stakeholder
feedback\ Failure to meet climate
actions goals including
the commitment to UN
SDG Goals leading to
reputational damage\ Our sustainability action has helped insignificant resource conservation

Reputation

Type

Climate-Related Risks

Potential Impacts

Mitigation/Opportunities

Emerging Regulations\ Increased pricing of GHG
emissions and carbon tax\ Increased operating costs(e.g., higher compliancecosts, increased insurance
premiums)\ Mandates on environmental
regulations\ Asset impairment and early
retirement of existing assets\ We are committed to pro-actively
conserve the environment, control
our impact on climate change andcontinually improving the performanceof our Environment, Health and Safety(EHS) Management Systems\ Exposure to litigation\ Non-compliance to,environmental regulations
resulting from fines andpenalties\ Poor sustainability
reputation leads to inability
to attract/ retain talent\ Our efforts enable us to meet the everincreasing expectations of our clients,
who consider sustainability as a key
driver\ Our focus on D&I and CSR helps toattract and retain talentTransition Risks

Policy andLegal\ Failure to comply toregulatory disclosures\ Cost to transition to lower
emissions technology

Technology\ Cost to adopt/deploy newpractices and processes\ We comply with applicable
environmental regulations and laws in
the countries in which we operate

Physical Risks

Acute\ Increased severity of
extreme weather events
such as cyclones andfloods causing damage toproperty/assets\ Extreme weather events due
to climate change can leadto vector-borne diseases
and may result in endemics,
epidemics or pandemics.
Water stress and scarcity
pose a significant near-termrisk for us which will impact
our ability to do business\ Refer Environmental Compliance
Section for more details

As part of climate action goals to reduce
our emissions\ Supply chain interruptions\ Extreme weather events
can affect the morale ofemployees, with negative
impacts on the workforce(e.g., health, safety,
absenteeism)\ Changes in the availabilityof natural resources likewater in regions where
we operate could directly
impact our operations andemployee welfare

 hese opportunities provide benefitsTsuch as\ Rising sea levels lead to
disruption in operations\ Reduced operational costs\ Improved health and safety of theemployees\ Disruptions of the city’s functional
infrastructure such as transport
network and utilities including
power and water supply inthe cities that we operate canseverely hamper business
continuity

Refer to water conservation practices\ Use of more efficient equipment: We
have replaced old assets with newtechnological devices\ Increased value of fixed assets(e.g., LEED-certified buildings)\ Physical damage to our building
infrastructure and other physicalassets\ With large campuses in India, water
scarcity can affect our ability to
do business and ensure business
continuity. Our water stewardship andconservation efforts help to mitigate
this risk\ Use of lower-emission sources ofenergy we have invested in renewableenergy programs and adoption ofenergy efficiency measures\ Reduced GHG emissions\ With a very large operational footprint
in India, we have recognized there are
direct climate change impacts such as\ Rising mean temperatures
Chronic\ Increased operating costs(e.g., inadequate watersupply)Increased capital costs(e.g., damage to facilities)\ Increased insurance
premiums and potential
for reduced availability of
insurance on assets\ Few of our large office campuses areprone to sea-level rise and consequentbusiness continuity risks. Unabatedglobal warming can lead to chronic
water scarcity across our operational
geographies, especially in India,
leading to operational challenges\ Refer to water conservation practices\ Refer to energy conservation efforts formore details

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ESG Report 2022-23

Delivering Value for Our People and Planet

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Corporate Overview Environment Social

Governance

Key Performance Indicators

Annexure

GovernanceMetrics and Targets
We have taken ESG goals to manage relevant
climate-related risks. For further details on
progress measured against the E,S and G
goals, please refer to ESG performancehighlights section.

Climate-Related
Opportunities
Efforts to mitigate and adapt to climate change
also present opportunities for organizations. These
include resource efficiency, cost savings, adoptionof low-emission energy sources, and building
supply chain resilience. We have identified various
areas of opportunity as described below.

Resource Efficiency

By improving efficiency in buildings, appliances,and transport/mobility, we have successfully
reduced operating costs. This includes energy
efficiency and broader management of materials,
water, and waste.

Energy Source

To meet global emission-reduction goals,
a transition to low-emission alternatives such as
wind and solar energy is crucial. Our investments
in renewable energy have not only contributed toenvironmental sustainability but also resulted insignificant energy cost savings.

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Delivering Value for Our People and Planet

87Persistent Systems

Corporate Overview Environment Social

Governance

Key Performance Indicators

Annexure

Governance

Cybersecurity

Defend: Protect: Respond: RecoverProtecting data is our top priority at Persistent Systems.
We implement robust data privacy measures andmaintain a comprehensive cybersecurity framework toensure the confidentiality, integrity and availability of
information in today’s digital landscape.
Recognizing the Significance ofData Privacy and Cybersecurity
The safeguarding of sensitive information and theprevention of cyber attacks are necessitating theessence of data privacy and cybersecurity. In thisera of digitization, securing data is increasingly
crucial, given the escalating volume of information
being amassed and stored by businesses.
Cyber attacks bear the potential to cause severe
repercussions such as compromised confidential
data, financial losses, and harm to reputation.
Prioritizing data privacy and cyber security
is thus vital to instil trust among customers
and stakeholders.
Crucial components for ensuring a secureenvironment including data encryption, firewalls,
strengthening the user endpoints, training of users
to recognize and react quickly to modern cyberthreats, Multi-Factor Authentication, in depth data
privacy policies, internal and external audits, etc
have been completely overhauled to safeguard
Persistent from modern day cyber threats.
For FY 2022-23, Persistent Systems has further
enhanced the security controls by investing in
advance security platforms like CNAAP, Cloud
SIEM, etc. We have embarked on the journey of
Zero Trust.

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Data security is of prime
importance. Persistent has
implemented a data governancepolicy and technical control toensure data is safe and available
only to the authorized user fora specific duration. A focusedtraining program to createawareness in user community
are sponsored by senior
management to ensure theircommitment.
There are no data breaches
reported in FY 2022-23.”

Recognition
These efforts are recognized by various industry
forums including India’s Top 100 CISO- anaward recognising Persistent CISO as India’s
Top 100 IT Security Influencers and Community
Contributors by CISO Platform Magazine
and 2022 Visionary CISO for demonstrating
extraordinary leadership and resilience during
the challenging times and safeguarding
corporate data assets and crown jewels by ISMG.

Delivering Value for Our People and Planet

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Corporate Overview Environment Social

Governance

Key Performance Indicators

Annexure

Governance

Privacy Program

Data Privacy
Governance
Framework
Persistent has a well-definedand certified Privacy Information
Management System (PIMS)
in place aligned to IS0
27701:2019. The PIMS covers
both privacy data governed by
Persistent (Controller) as well
as data placed in Persistent’s
custody by customers or otherthird parties (Processor). It
enables secure and uniform
data handling practices acrossthe data’s lifecycle. Privacy ispart of the Risk and Governancefunction within CISO office witha resolute team that plays therole of implementer, architect,and checker, while business
functions and delivery teams
are the makers. Independent
audits are conductedperiodically by the internal
audit and compliance team andexternal bodies to validate theeffectiveness of data privacy
controls we deploy. Regularsenior management reviews
ensure adequate oversightwith quarterly reporting ofdata privacy risks to Risk
Management Committee ofthe board.

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ESG Report 2022-23

Cyber Risk Management

CISO OfficePrivacy Program – Privacy Office

Legal& Regulatory
People& Culture

Operations

The dynamically changing cyber risk landscape in
the current hybrid business environment needs amulti-dimensional, strategic yet cohesive
approach towards cybersecurity, information
security, business continuity, cloud security
and cyber resilience. Cyber Risk Management
Framework at Persistent works towards proactively
identifying, prioritizing and mitigating risks acrossthe enterprise.

The Cyber Risk Management framework is
owned by a dedicated CISO office comprising ofappropriate Governance, Risk Management andCompliance (GRC) functions, technical expertiseand capabilities postured to securing Persistent’s
information assets. Cyber Risk are reported to
the Risk Committee of the Board and discussed
at Board level with active participation of C-Suiteand business leaders.

CISO Office
Personal
Information
Management
SystemProcessor@ Persistent

Vendors& SaaS

ISMS, Cyber Security Governance, Corporate Information Security

Controllers@ Persistent

Privacy
Control

Risk and Governance

Audit and Compliance

Security Operations Center• Policy and process governance• Internal audit• Security operations• Infosec awareness and training• External VAPT

• Incident management• Risk management• Operational audit• Security assessments• Due diligence (global IT review)• ISO and SOC II audits• VAPT• PIMS (ISO 27701)• Technology audits• Blue teaming• BCMS (ISO 22301)• Privacy audits• Red teaming• Management reporting andbusiness analytics• External Posture Management(EPM)

Internal Audit• Critical assets postureISO 27701, ISO 27018, SOC2 Type II• Technical approval• Dark and deep
web monitoring• SIRT processing• SIEM and related security
infrastructure owner

The CISO office ensures:\ Implementation of effective security controls to
detect, prevent and remediate threats\ Continuous monitoring of effectiveness of thecontrols via internal and external monitoring andfocused audits\ Focus on continuous improvement of
the efficacy of the security controls withthe adoption of new processes and latest
technology solutions\ Escalation of information security, cybersecurity
and technology risk

Delivering Value for Our People and Planet

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Annexure

Governance

ESG Report 2022-23

SOC 2
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92

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Persistent continues to maintain continuous adherence to ISO 27701 - Privacy Information
Management System and is certified both as a controller and processor of PII data. Further incognizance with local privacy regulations and local laws of the land, Persistent has implemented

inISO
22301:2019odl Vali ationront

We believe that security is an ongoing process, and as we expand our business, our customers can berest assured that Persistent will continue to improve and ensure compliance.

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Cyber Risk Management Certifications

required controls and processes designed to ensure that there is a sustained compliance in place withmultiple data privacy mandates from regulatory bodies across the various geographies and countries
where Persistent operates. As a processor, Persistent adheres to contractual and customer mandates.
During the reporting year, we do not have any substantiated complaints received concerning breachesof customer privacy from related parties nor regulators.

Delivering Value for Our People and Planet

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Governance

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Annexure

Governance

Customer
Stewardship
The Company’s commitment tonon-economic value creation forstakeholders demonstrates its
dedication to not only deliveringvalue for clients but also creating
a positive impact on society and theenvironment. Persistent Systems
emphasises on customer relationships
and stakeholder value sets a highstandard for other organizations in theindustry to follow.
Clientele Served

25+

8 of 10

6 of 10

4 of 10Global FinTechs

Largest banks in both
US and India

Top medical devicecompanies

Top US healthsystems and payors

3 of 55 of 10Top CROs and analytical
instrument companies

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ESG Report 2022-23

Top pharmaceutical
Companies

Delivering Value for Our People and Planet

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Corporate Overview Environment Social

Governance

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Annexure

Governance

Customer RelationshipManagement: Customer-centric
Organization with a Structured
CRM Approach

Persistent Systems has established itself as a customer-centric organizationthat prioritizes customer satisfaction and values long-term relationships
with clients. Its structured approach to customer relationship management,
including regular feedback, grievance redressal mechanisms, andcustomer satisfaction surveys, has enabled the company to deliver
high-quality services that meet the needs of its clients.

Persistent Systems is a Company that iscommitted to providing high-quality services
to its clients while maintaining strong customer
relationships. The organization places greatemphasis on its customer relationships and has
developed a structured approach to Customer
Relationship Management (CRM) that focuses onregular customer feedback, grievance redressal
mechanisms and customer satisfaction surveys.

Regular Customer Feedback
Persistent Systems believes in seeking feedback
on a regular basis for all projects in scope.
To achieve this, the organization conducts project
customer satisfaction surveys at key project
milestones or at least once every six months.
These surveys are designed to understand the key
performance of the project on several importantdimensions, including derived value, engagement
satisfaction, loyalty, people, service, deliverables,
other commitments and overall experience.

79
The latest net promoter score (NPS)at the organization level for all project
customer satisfaction surveys

88%
Overall satisfaction score

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ESG Report 2022-23

By constantly seeking feedback, addressing grievances in a structured
manner, and conducting surveys at both engagement and relationshiplevels, Persistent Systems has been able to maintain a strong reputationin the industry and build lasting partnerships with its clients.”
Understanding the Level ofCustomer Satisfaction

Persistent Systems conducts customer satisfaction
surveys to understand the level of customer
satisfaction and the health of the relationshipwith the customer. Engagement/project level
surveys are conducted once every six months,
while relationship level surveys (annual CSAT)
are conducted once a year. The engagementlevel CSAT survey is focused on seeking projectlevel feedback from the customer contacts whoare involved in project activities. The relationshiplevel CSAT survey is focused on seeking feedback
about Persistent's relationship with the customer
organization and other key business aspects.
Typically, CXO, senior, and mid-management are
involved in this.

Customer Grievance Redressal
Mechanism

Persistent Systems has a well-defined process
to handle customer grievances and escalations
related to project deliveries. The redressalof customer grievances/escalations is done
through a structured process and workflow.
Persistent recipient (e.g., CXOs/Delivery
Head/Delivery Partner/Customer Partner/
Sales) who receives the customer escalation
will share the escalation information with therequired delivery and delivery excellence
team members. The project team then isrequired to put the project in high/critical risk,
and the delivery head, delivery partner, andproject manager, along with the SQA team,will prepare the corrective and preventive
actions (CAPA).

The delivery partner and project manager will
ensure CAPA is implemented with the help of
SQA, and results are shared with the customer
and Persistent leadership. The delivery partnerand project manager will provide periodic
updates to the customer, delivery head,delivery excellence teams, including SQA,
on the status of CAPA and update the status
as green/amber/red. The delivery head will
periodically (at least once a month) review
the status of customer escalation and its
mitigation/resolution.

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Key Performance Indicators

Annexure

Message from the ESG Head

Employee health and safety (EHS) areparamount. We prioritize their well-being
through risk management, safety training,
audits and inspections. Our employee
assistance programs and wellness campaigns
promote a healthy work environment. We also
conduct awareness campaigns and training
sessions on EHS topics, ensuring employees
have the knowledge and skills to implement
sustainable practices and maintain their safety.

Transparency in disclosing
our ESG performancestrengthens our stakeholders
relationship. It helps tobuild trust in a brand andreinforce reputation.”

Dear colleagues andstakeholders,Thanks to the inclusion of sustainable
performance metrics, closely intertwinedwith Persistent Systems’ long-term financial
performance and growth, I am delighted
to share the substantial progress wehave accomplished.
This report encapsulates all our
accomplishments towards our commitment
to environmental sustainability, occupational
health and safety, employee well-being, andstakeholder engagement. But first, I will startwith how we achieved what we did.

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Supporting employee well-being enhances
their sense of satisfaction and boosts
productivity. Additionally, we provide fitness
facilities, mental health resources, and flexible
work arrangements, contributing to oursustainability goals.
At the core of our corporate governancelies the belief that effective stakeholder
engagement is key to informing our sustainableroadmap. It forms an integral part of oursustainability agenda and is a key driver of our
success. Our stakeholder engagement process
involves gathering relevant information todevelop a sustainable roadmap that reflects
stakeholder needs. Additionally, theseengagements allow us to communicate ourobjectives and targets to our stakeholders.
At the heart of our ESG commitment andreporting are transparency and accountability.
For that, tracking and measuring key
performance indicators (KPIs) are crucial
to driving continuous improvements. We
monitor metrics such as energy consumption,
greenhouse gas emissions, water usage, waste
generation, and recycling rates, enabling
us to set specific targets and reduce ourenvironmental footprint.

Additionally, we require vendors todemonstrate commitment to EHS practices,
fostering continuous improvement throughout
our supply chain. These EHS considerations areintegrated into projects and facilities from thestart, ensuring compliance and high standards.
We also prioritize staying well-informed about
regulatory frameworks and industry trends.
We passionately engage in conferences
and networking events, eagerly seeking
opportunities to exchange knowledge and bestpractices with industry peers. Collaboratingwith external experts and auditors, we are
guided towards compliance and continual
improvement, infusing our journey withexpertise and enthusiasm.

Sustainability resonates deeply within ourbusiness structure, ingrained in every facetof our organization. Our esteemed Boardof Directors takes a personal interest inoverseeing environmental and social matters,
demonstrating their heartfelt commitment.
Simultaneously, our dedicated Regulatory
Board diligently steers our corporatesocial responsibility policies and shapes
our environmental sustainability strategy.
This impassioned leadership ensures that oursustainability efforts thrive with purpose anddrive us towards a brighter future.
With that, I take this opportunity to express myheartfelt gratitude to all our stakeholders who
have partnered with us in our sustainability
journey. This journey is a long one, acontinuous and evolving process without ahard stop or destination. Instead, our journey
towards excellence is being continuously
monitored and measured through the progress
we make to achieve ESG goals. Our objective
is to continue inspiring our internal and external
stakeholders on the same path.
On that note, we look forward to yourcontinued feedback and encouragement inour endeavor to drive inclusive and equitable
growth. Together, we can achieve much more.

Thank you.
Chitra Byregowda
Head - ESG

Delivering Value for Our People and Planet

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Key Performance Indicators

Annexure

About Us

We are Persistent
Persistent Systems Limited is a global solutions company thathas delivered Digital Engineering and Enterprise Modernization
services for 30+ years. We engineer our products and platforms
with a boutique mindset to be agile and growing.
Engineering Success, Delivering Value
The Persistent Way The Persistent Way allowed
us to grow on our own terms, by our own
design, through deliberate investments anddecisions made as we forged our own uniquepath. We initiated on strategic acquisitions incloud, security and hyperscalers to build upon
our Digital Engineering expertise, enhanced
our partner ecosystem to leverage its vast
wealth of experience, and expanded our
global delivery footprint to be closer to ourclients. We engineered success for our clientsas they searched for new avenues of growth,
innovation and competitive advantage.
We delivered value with solutions that had
real-life human impact across the world.

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ESG Report 2022-23

Perhaps most critically, we also created anenvironment that encourages our 22,750+
employees to strive for excellence as they
apply their unique skills to solve customer
challenges and produce meaningful outcomesfor our clients. All these characteristics makeus one of the top-performing companies
in our sector, exceptionally well preparedto face and overcome any economic andbusiness challenge.

The Persistent Way is never-ending. Looking
ahead, we continue our journey with arenewed sense of commitment to grow ourbusiness far beyond $ 1 billion and generate
additional shareowner value. We will reachthis goal only if we continue to focus onareas that we know create lasting results,
beginning with investments in our people
so that they feel valued for their talents,and empowered to grow professionally andpersonally. We will enable them to give backand make a difference in the communities
and countries in which they work and live.
And we will collaborate with clients on newtransformation and modernization initiatives,
anchored in our innovative IP and premierservice delivery. We are entering a new phaseof our growth strategy and Digital Engineering
leadership where we will continue engineering
success and delivering value through
The Persistent Way.

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Governance

Key Performance Indicators

AnnexureAwards and Recognition
Technology

ISG

EverestRecognized as a Rising Star for Patient
Engagement Digital Transformation Services
by ISG Provider Lens

Recognized as a Leader in Everest Group’s
Software Product Engineering Services PEAK
Matrix®

Persistent won the 2022 ISG Digital Case Study
Awards™ for its Federated Learning solution

Recognized by Everest Group as the 3rd
fastest growing Engineering Services providerof 2022

Recognized as a Rising Star in ISG Provider
Lens™ for AWS Ecosystem Partners: U.S.
Quadrants 2022
Recognized as a Top 15 Sourcing Standout forManaged Services in the Q4 2022 ISG Global
Index™ “The Booming 15” category
Named a Product Challenger in ISG Provider
Lens™ Digital Engineering Services Quadrants
U.S. 2022
Named a Rising Star in ISG Provider Lens™
U.S. 2022 for Google Cloud Partner Ecosystem
Recognized as a Top 15 Sourcing Standout forManaged Services in the Q3 2022 ISG Global
Index™ “Booming 15” category
Named a Leader in Agile Application
Development Projects in ISG Provider Lens™
Next-Gen ADM Services U.S. 2022

Recognized as a Major Contender in Everest
Group’s Data and Analytics (D&A) Services
PEAK Matrix® 2022
Recognized as a Major Contender in Everest
Group’s System Integration (SI) Capabilities on
Microsoft Azure Services PEAK Matrix® 2022
Recognized as a Major Contender in Everest
Group’s System Integration (SI) Capabilities on
AWS PEAK Matrix® 2022.
Recognized as a Major Contender in Everest
Group’s Healthcare Payer Digital Services
PEAK Matrix® 2022

Dun & Bradstreet

ForresterIdentified by Dun & Bradstreet as the Top
Performer in the Growth Performance
categories in Software and

Recognized in the Salesforce Consulting
Services Landscape, Q1 2023

BPM sectors in their 22nd edition of the India
Top 500 companies publication
TechGig Code Gladiators

GartnerMediaAgility, Recently Acquired by Persistent,
Named as a Niche Player in the 2022
Gartner® Magic Quadrant for Public Cloud IT
Transformation Services

Won the title of ‘Coding Powerhouse’ at
the TechGig Code Gladiators 2022, world’s
biggest coding competition

Zinnov Zones
Named a Leader in the 2023 Zinnov Zones
Intelligent Automation (IA) Services ratings
Momentum ITSMA
Won two awards at the prestigious 25th Annual
Marketing Excellence Awards from Momentum
ITSMA: Diamond award for “Embedding ABM
Programs” and Gold award for “Advancing
Marketing’s Digital Transformation”

Marks a Decade as a Leader in Zinnov Zones
Engineering Research and Development
Services ratings

Appian Award
Won the Appian APJ Innovation Award 2022

Constellation ShortList

CRN MSP500

Appeared on the Constellation ShortlistTM for
Innovation Services and Engineering for the
5th year in a row

Acknowledged on CRN’s Managed
Service Provider (MSP) 500 list in theElite 150 category for 2023

Recognized in the 2022 Constellation
ShortList™ for Public Cloud Transformation
Services: Global
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Corporate Overview Environment Social

CorporateiNFHRASAC-ACCP
Won the Prof. Ashok Vaidya Award for artificial
intelligence generated Knowledge Graphs forpost-hoc analysis of failed clinical trials

Won FM Excellence Award in Emergency
Preparedness & Business Continuity category
at the 8th Annual Facility & Workplace
Management India Summit & Awards 2023

Won the Best Corporate Project award for
its Bhageerath office renovation and wasnamed a runner-up in Sustainability at theiNFHRA Awards
Recognized by iNFHRA with awards in 2
categories - Corporate Vaccination andHygiene at WorkplaceAwarded a Certificate of Recognition for
innovative efforts in promoting CSR in themedium category at the 7th edition of the ICSICSR Excellence Awards

MCCIA
Won an award for Green Initiatives in
Maharashtra under the IT Services - Large
Scale Company category at the MCCIA Annual
Awards 2022

Won seven Leadership Awards for Facilities
Management, Security Management,
Environment, Health & Safety, Energy
Conservation Initiative, and InfrastructureManagement at CEWorldwide’s 149th
Procurement, Project Management, Corporate
Real Estate, Facilities Management, and 2023
Pune Leadership Award Conference104

ESG Report 2022-23

Sandeep Kalra, CEO and Executive Directorof Persistent, wins the prestigious Business
Today Best CEO Award under the IT and
ITeS category.

Brand FinanceEntered Brand Finance Top 10 India IT Brands
for the first time and is the 3rd fastest growing
Indian brand overall.

Mr. Sunil Sapre, Executive Director and Chief
Financial Officer of your Company has beenrecognized in the list of Top 200 CFOs in India.

Bhageerath office in Pune, India
received the Platinum certification
for Green Interiors from the Indian
Green Building Council (IGBC).

Invention Business Intelligence

Recognized at the SEAP Star Awards
2023 under the Strategic Academia
Partnership category.

Persistent, in partnership with StackRoute,won “Gold” at the Brandon Hall Awards under
the category of “Best Unique or Innovative
Learning and Development Program” forEnabling Architect Competencies program.

IGBC

Won the Energy Conservationand Management award from theMaharashtra Energy Development
Agency (MEDA)

PeopleConfederation of Indian Industry (CII)

2023 Pune Leadership Award Conference

AnnexureAwarded by Inventicon BusinessIntelligence Pvt. Ltd. in the Sustainability
and Emergency Preparedness & BusinessContinuity categories.

ICSI

Recognized for adopting Renewable Energy at
its Goa office premises by the Confederation ofIndian Industry, Goa

Key Performance Indicators

Maharashtra Energy Development
Agency (MEDA)

8th Annual

Annual Facility & Workplace Management
India Summit & Awards

Governance

Received two awards at the prestigious
SHRM HR Awards: 2nd runner-up under the“Excellence in HR Analytics” category andspecial recognition in “Excellence in Learningand Development” .

TISS Leap Vault Chief Learning Officers (CLO)Awards 2022.
\ Best Corporate University\ Best Virtual Learning Program\ Best Blended Learning Program\ Learning initiatives in Employee Health,Wellness & Welfare

Zee 24 Taas
Dr. Anand Deshpande, Founder, Chairman,
and Managing Director of Persistent, hasbeen honored with the “Ananya Sanman”
award by Zee 24 Taas for his outstanding
contributions to the IT industry and forsupporting entrepreneurs in India through thedeAsra Foundation.

Delivering Value for Our People and Planet

105

Persistent Systems

Corporate Overview Environment Social

Governance

Key Performance Indicators

Annexure

Global Presence

The Netherlands

21

Switzerland

Countries

Germany

CanadaRomania

PolandUK
IrelandFrance
USA

Japan

Italy
IsraelMexicoCosta Rica

India

Malaysia
Singapore
South Africa

25

100

500

1,000

2,500

5,000

7,000

7,500

9,962

10,632

13,68018,59922,8891995-96

1999-00

2023-04

1995-96

2007-09

2011

2013

2014

2019

2020

2021

2022

2023

1990

1

Australia

Persistent Systems Limited
Registered Office‘Bhageerath’,
402 Senapati Bapat Road
Pune 411 016, India
Tel: +91-20-6746-2084
Fax: +91-20-6703-0008

106

ESG Report 2022-23

Ramanujan
B9 The Loft Commercial Building
Blue Ridge Township, S. No. 119 (part) to
125+154 (part) to 160+160/2 to 171+173
Plot No. 1, Sector R-1, Hinjewadi, Pune,
Maharashtra - 411 057
Ahmedabad
Persistent Systems Ltd, D-02,The First
Commercial Complex B/S Keshavbaug Party
Plot, B/H ITC Hotel,Vastrapur, Ahmedabad,
Gujarat-380015

Sri Lanka

Employee growth

4th and 5th Floor, Building No. IT 3
Qubix Business Park Private Limited
Zone Number C-1, Special Economic Zone
Survey No. 154/6
Rajiv Gandhi Infotech Park
Hinjewadi, Pune, Maharashtra - 411 057
Tel: +91-20-6798-3500

Bengaluru
5th Floor, Block 9, Primal Projects Pvt. Ltd. SEZ(PRITECH PARK), Survey Nos. 51 to 64/4 & 66/1,
Belandur Village, Varthur Hobli, Bengaluru East
Taluk, Bengaluru Urban 560 103
Tel: +91-80-6135-9301
12th Floor, Crescent 1, Prestige Shantiniketan
Business Precinct, Whitefield Main Road,
Mahadevapura, Bengaluru, Karnataka 560 067

Pune
Aryabhata-Pingala
9A/12, Kashibai Khilare Marg
Erandawana, Pune, Maharashtra - 411 004
Tel: +91-20-6703-3000
Rigveda-Yajurveda-Samaveda-Atharvaveda
Plot No. 39, Phase I
Rajiv Gandhi Information Technology Park
Hinjewadi, Pune, Maharashtra 411 057
Tel: +91-20-6798-0000

6th Floor, The Cube-Karle Town Centre, 100 Ft.
Nada Prabhu, Kempe Goda Main Road, next to
Nagavara, Bengaluru, Karnataka - 560045
Goa
Bhaskar — Charak
L-44, Unit 1, Software Technology Park, Verna
Industrial Estate, Verna, Salcete, Goa 403 722
Tel: +91-0832-67 53333
Gurugram
18th floor, Tower C, DLF Bldg.5, DLF Cyber City,
Gurugram, Haryana 122002

Mediaagility India Private Limited
Registered Office:6th Floor, Paras Downtown Centre, Sector 53,
Golf, Course Road, Gurgaon, Haryana 122001
Hyderabad
11th and 12th Floor, WaveRock Building,
Survey No. 115 (part) TSIIC IT / ITES SEZ
Nanakramguda Village, Serilingampally Mandal
Hyderabad, Telangana - 500 008
Tel: +91-40-6722-9555
Capiot Software Private Limited
Registered Office:Amrutha Ville, S. No. 14 & 15, Flat No. 210 Raj
Bhavan Road, Opp. Yashoda Hospital Somajiguda,
Hyderabad, Telangana - 500 082
IndorePersistent Systems Limited
4th, 5th and 6th Floor, Brilliant Centre 17 Race
Course Road, Indore, Madhyapradesh - 452003
Jaipur
5th Floor, Fort Anandan, Plot No. 3, Indira Place
Malviya Nagar, Jaipur, Rajasthan 302 017
Mumbai12th Floor, Tower C, Times Square Andheri –Kurla Road Opposite Mittal Industrial Estate
Marol, Andheri – East, Mumbai,
Maharashtra - 400 059
NagpurGargi-Maitreyi
Plot No. 8 and 9, IT Park, MIDC Parsodi Nagpur,
Maharashtra - 440 022
Tel: +91-0712-6692960 |2nd and 3rd Floor, Infotech Tower, IT Park, MIDC
Parsodi, Nagpur, Maharashtra - 440 022
Tel: +91-0712-6732321
Noida
Unit 1, 9th floor, V.J. Business Towers
Plot No. A-6, Sector 125, Noida
Uttar Pradesh 201 303
Delivering Value for Our People and Planet107

Persistent Systems

Australia
Persistent Systems Limited
Registered Office
Level 12, 680 George Street
Sydney NSW 2000
Tel: +61 02 8280 7355
Melbourne
Office 212, Spaces Rialto
Level M2, 525 Collins Street
Melbourne, VIC 3000
SydneyPersistent Systems Pty Ltd(formerly known as Capiot
Software Pty Ltd) w.e.f., Jan.
27, 2023
Level 20 & 21, 201 Sussex Street
Sydney, NSW, 2000
CanadaPersistent Systems Limited
Development Centre

Corporate Overview Environment Social

Costa Rica
Data Glove IT Solutions
Limitada Registered OfficeSigma Business Center,
Republic Tower A, second Floor,
San Pedro Montes de Oca.Post
code: 11501
FrancePersistent Systems France
S.A.S. Registered Office
31-35, rue de la Fédération
75015 Paris
Branch Offices
Grenoble
1 rue Hector Berlioz
38600 Fontaine
Tel: +33 (4) 7653 3580
Paris Office
64-66, Rue des Archives
75003 Paris

515 Legget Drive, Suite 920
Ottawa, ON, K2K 3G4, Canada

Nantes
24 rue Crebillon, 44000 Nantes

Domiciliation offices:
British Columbia
Pacific Centre, 400 725
Granville Street Telephone:
1.604.687.2242

Mâcon
Cité de l’entreprise –Bâtiment MC, 200 Boulevardde la Résistance, 71000 Mâcon

Vancouver, BC V7Y 1G5,
Canada Ontario, Scotia Plaza,
40 King Street West Suite 5800,
Toronto, ON M5H 3S1 Canada
Tel: +1 416 597 4398
Quebec1000 De La Gauchetière Street
West, Suite 3700 Montréal,
QC, H3B 4W5
Telephone: 1.514.875.5210

108

ESG Report 2022-23

Germany
Persistent Systems
Germany GmbH
Registered Office
Lyoner Straße 14
60528 Frankfurt am Main
Branch Office
Christoph-Rapparini-Bogen 25
80639, Munchen
PARX Consulting GmbH
Registered Office
An der Alster 62,
20099 Hamburg
Tel: +49 40 232 05 4000

Youperience GmbH
Christoph-Rapparini-Bogen 25
80639 München
Ireland
Aepona Group Limited
Unit 11, Burnell Court,
Northern Cross Malahide Road,
Dublin D17F436
Italy
Persistent Systems S.r.l, Italy
Corso Di Porta Vittoria 9
Milano (MI) CAP 20122
Japan
Persistent Systems Limited
2-21-7-703 Kiba, Koto-ku
Tokyo 135-0042
Tel: +81 3 5809 8444
Malaysia
Persistent Systems Malaysia Sdn.
Bhd. 601-602, Level 6, Uptown
1, Jalan SS21/58, Damansara
Utama, 47400 Petaling Jaya,
Selangor Darul Ehsan
Tel: +603 766 38 301
MexicoPersistent Systems Mexico S.A.
de C.V.
Development Centre
Lopez Mateos Sur 1450 Piso
2 - Plaza LasVillas, Tlajomulco,
Jalisco, 45640
Digitalagility S de RL de CV
Development Centre
Paseo de la Reforma 369,
Torre B, INT. 404, Cuauhtemoc,
CDMX 06500, México
PolandPersistent Systems Poland
Spółka ZOO
Warsaw, ul. Towarowa 28 00839 Warsaw, Poland
Chilliflex ul. Wadowicka 7, 30347, Krakow, Poland

Romania
Persistent Systems S.R.L.
Registered Office
Strada C. A. Rosetti, Nr. 17,
Biroul O09, ResCo-Work
10, Sectorul 2, Bucuresti
020011 Romania
Singapore
Persistent Systems Pte. Ltd.
Co. Reg. No. 200706736G
7 Temasek Boulevard, #3701 A Suntec Tower One
Singapore 038987
Tel: +65 6223 4355

Governance

The Netherlands
Persistent Systems Limited
WTC Tower B — 9th floor
Strawinskylaan 937
1077 XX Amsterdam
Tel: +31 20 312 1212
United Kingdom
Branch Office
Persistent Systems Limited
3Level 1, Broadgate Tower, 20
Primrose Street, London EC2A
2EW, United Kingdom

Mediaagility Pte. Ltd.
30 Cecil Street, #1908, Prudential Tower,
Singapore 049712
Sri Lanka
Persistent Systems
Lanka (Private) Limited
4th Floor, 123, Bauddhaloka
Mawatha, Colombo 4 Sri
Lanka 400003

Youperience Limited(Under Strike Off process)Registered Office
Level 1, Broadgate Tower, 20
Primrose Street, London EC2A
2EW, United Kingdom

South Africa
Persistent Systems Limited
Spaces, Design Quarter
William Nicol cnr Leslie Road
Fourways, Johannesburg 2191
South Africa
Tel: +27 0 11 513 3118

MediaAgility UK
West Link House, 981
Great West Rd, London,
Brentford TW8Parx Werk AG, Av. de la
Av. de la Rasude 2
CH-1006 LausanneAnnexure

125 Village Boulevard, Princeton
Forrestal Village, Plainsboro
New Jersey, NJ 08540

Persistent Systems UK Limited(formerly known as Aepona
Limited) w.e.f., March 20, 2023
Forsyth House, Cromac Square
Belfast, Northern Ireland,
BT2 8LA

Switzerland
Persistent Systems
Switzerland AG
Birmensdorferstrasse
108 8003 Zürich
Tel: +41 43 500 97 00

Key Performance Indicators

USA
Persistent Systems Inc.
Persistent Telecom Solutions
Inc. Capiot Software Inc.
Registered Office2055 Laurelwood Road, Ste.
210 Santa Clara, CA 95054
Tel: +1 408 216 7010
Persistent Systems Inc.
Branch Offices
100 Somerset Corporate Center
Bridgewater Township New
Jersey , NJ 08807, USA

Software Corporation
International
Registered Office:Prosperity Place III, 10150
Mallard Creek, Suite 305,
Mecklenburg County North
Carolina Charlotte,
NC 28262 USA
Fusion360 LLC
Prosperity Place III,10150
Mallard Creek, Suite 305,
Mecklenburg County North
Carolina Charlotte,
NC 28262 USA
Persistent Telecom Solutions Inc.
Branch Offices
Seattle / Bellevue, 3380 146th
Place SE, Suite 220, Bellevue
Washington 98007, USA
Dublin5080 Tuttle Crossing, Blvd.
Suite 150, Dublin, Ohio 43016
Raleigh / Morrisville3005 Carrington Mill, Blvd
Suite 175 Morrisville, North
Carolina 27560
Atlanta, GA
12600 Deerfield Parkway, Suite
100 Alpharetta, Georgia, 30004
MediaAgility Inc.
360 Wall Street, Princeton New
Jersey 08540
1475 Saratoga Ave #168
San Jose, CA 95129

Delivering Value for Our People and Planet

109

Persistent Systems

Corporate Overview Environment Social

Governance

Key Performance Indicators

Annexure

Key Performance Indicators
Economica.

Standalone Financialc.

Economic Value Generated and Distributed (EVGD)

FY-23

Ozone-Depleting Substances (ODS)

Economic Value Generated
51,914.24

a) Revenues
Economic Value Distributedb) Operating Costs

7,227.82c) Employee wages and benefits

33,935.15d) Payments to providers of capital

3,111.55e) Payments to government

2,591.44

f)Community Investments

117.60Total b+c+d+e+f

46,983.54

Economic Value retained

4,930.70

Contribution to Benefit Plan
(H in millions)Contribution to Benefit Plan

FY-23

Contributions to Provident and Other Funds

3,022.40

Staff Welfare Expenses

948.41

Total

3,970.81

Environment

GHG Emissions
GHG emissions(tCO2e)Source of Emissions

Scope 1(1)314.1

Socpe 2(2)5,890.2

Total Scope 1 and 2

6,204.3

Scope 3(3)FERA includes WTT emissions and T&D lossesd. 	Scope 3 targets under ESG ambitions, only includes emissions from Business Travel, Associate commute, FERA, Waste
generations in Operations and partially Purchased Goods and Services(PGS) related to food expenses(H in millions)
Economic Value Generated and Distributed(EVGD)

Business Travel covers oversees locationsb. 	Associate commute, Waste generations in operations and partially Purchased Goods and Services(PGS) related to foodexpenses covers offices in India

ODS consumption
in kgType of ODS

Emissions
tCO2e

R22

111

R410a

85

201
177

R407c

28

59

Air Emissions from Diesel Generators
Parameter

Unit

NOx

micro gram / m3

FY 2022-23

85.26

SOx

micro gram / m3

100.96

Particulate matter (PM) (PM2.5)

micro gram / m3

279.36

Volatile organic compounds (VOC) CO

mg / m3

3.06

Particulate matter (PM10)

micro gram / m3

414.5

Waste Generation in Operations
Generation in
TonnesWaste Generated by category

Plastic waste

3.1

E-waste

8.4

Construction and demolition waste

4.5

Other Non-hazardous waste

46.1

Other Hazardous waste

0.2Grand Total

62.4

Waste Disposal Method
Quantity in
Tonnes3,011.8

Waste Disposal

Associate Commute

102.4

Fuel and Energy related activities (FERA)

979.8

Incineration

0.2

0.3%

PGS - Food Related Expenses

242.0

Recycled

57.6

92.4%

Waste generated in operations

1.3

Landfill

4.5

7.3%

Grand Total

62.4

Business Travel

Total Scope 3

4,337.3

Total Scope 1, 2 and 3

10,541.7

Other Gases - CFC R22 (Montreal Protocol)% Contribution

200.5(1) 	Scope 1 emissions covers all owned offices in India.
(2) 	Scope 2 (Market based) emissions includes India and other significant overseas locations
(3)

110

Scope 3 emissions

ESG Report 2022-23

Delivering Value for Our People and Planet

111

Persistent Systems

Corporate Overview Environment Social

Employees
MaleFemaleTotal

Junior Management

13,015

6,523

19,538Middle Management

2,436

490

2,926

Senior Management

396

29

325

15,847

7,042

22,889Male

Female

Total

Permanent

14,8296,600

21,429Contract

1,018

442

1,460

Grand Total

15,847

7,042

22,889

Employee by Region

Male

Female

Total

India

7,920

3,327

11,247

USA

1,020

381

1,401

ROW

419

115

534

9,359

3,823

13,182

Male

FemaleTotal

Under 30 years old

5,553

2,733

8,286

30-50 years old

3,603

1,055

4,658

Over 50 years old

203

35

238

9,359

3,823

13,182Grand Total

Employee by Age

Grand Total
Employees by Region

Male

Female

Total

India

13,831

6,375

20,206

USA

1,295

409

1,704

ROW

721

258

979

15,847

7,042

22,889Grand Total

Employees by Age

Male

FemaleTotal

Under 30 years old

6,957

3,947

10,90430-50 years old

8,425

3,012

11,437

Over 50 years old

465

83

548

15,847

7,042

22,889Grand Total

112

ESG Report 2022-23

Annexure

Total Number of New Employee Hires in the Reporting Period by Region, Age, and Gender

By Employee Category

Employee by Category

Key Performance Indicators

New Hires

Talent Pool

Grand Total

Governance

Learning and Development
By Employee Category

Average Hours of Training
per Year per Employee
Male

FemaleTotal

Junior Management

93.7

87.8

91.6

Middle Management

46.0

39.2

44.1

Senior Management

21.7

21.6

21.7

Occupational Health and Safety
Safety Incident/Number FY 2022-23

FY 2022-23

Total recordable work-related injuries

0

Lost Time Injury Frequency Rate (LTIFR) (per one million-person hours worked)

0

No. of fatalities

0High consequence work-related injury or ill-health (excluding fatalities)

0

Delivering Value for Our People and Planet

113

Persistent Systems

Corporate Overview Environment Social

Governance

Key Performance Indicators

Annexure

AnnexureGRI Disclosure

DISCLOSURE

Reference

DISCLOSURE

Reference

2-30 Collective bargaining agreements

FY 2022-23 ESG Report, Page 70-71

2-1 Organizational details

FY 2022-23 Annual Report, Page 5-6

3-1 Process to determine material topics

FY 2022-23 ESG Report, Page 16-19

2-2 Entities included in the organization’s sustainability reporting

FY 2022-23 Annual Report, Page 214

3-2 List of material topics

FY 2022-23 ESG Report, Page 18-19

2-3 Reporting period, frequency and contact point

FY 2022-23 ESG Report, Page 14-15

201-1 Direct economic value generated and distributed

FY 2022-23 ESG Report, Page 108

2-4 Restatements of information

FY 2022-23 ESG Report, Page 14-15

2-5 External assurance

FY 2022-23 ESG Report, Page 14-15

201-2 Financial implications and other risks and opportunities due toclimate change

FY 2022-23 Annual Report: Refer BRSR Section,
Page 161-196

2-6 Activities, value chain and other business relationships

FY 2022-23 Annual Report, Page 157-212

201-3 Defined benefit plan obligations and other retirement plans

FY 2022-23 Annual Report: Refer BRSR Section,
Page 161-196

2-7 Employees

FY 2022-23 ESG Report, Page 110-111

201-4 Financial assistance received from government

FY 2022-23 Annual Report

2-9 Governance structure and composition

FY 2022-23 Annual Report, Page 123-157

2-10 Nomination and selection of the highest governance body

FY 2022-23 Annual Report, Page 123-157

202-1 Ratios of standard entry level wage by gender compared to local FY 2022-23 Annual Report, Page 108-109
minimum wage

2-11 Chair of the highest governance body

FY 2022-23 Annual Report, Page 123-157

2-12 Role of the highest governance body in overseeing themanagement of impacts

FY 2022-23 Annual Report, Page 123-157

2-13 Delegation of responsibility for managing impacts

FY 2022-23 Annual Report, Page 123-157

2-14 Role of the highest governance body in sustainability reporting203-1 Infrastructure investments and services supported

FY 2022-23 Annual Report, Page 105-119

203-2 Significant indirect economic impacts

FY 2022-23 Annual Report, Page 157-212

205-1 Operations assessed for risks related to corruption

FY 2022-23 Annual Report: Refer BRSR Section,
Page 161-196

FY 2022-23 Annual Report, Page 123-157

205-2 Communication and training about anti-corruption policies andprocedures

FY 2022-23 ESG Report, Page 70-71

2-15 Conflicts of interest

FY 2022-23 Annual Report, Page 123-157

205-3 Confirmed incidents of corruption and actions taken

FY 2022-23 Annual Report: Refer BRSR Section,
Page 161-196

2-16 Communication of critical concerns

FY 2022-23 Annual Report, Page 123-157

2-17 Collective knowledge of the highest governance body

FY 2022-23 Annual Report, Page 123-157

206-1 Legal actions for anti-competitive behavior, anti-trust, andmonopoly practices

FY 2022-23 Annual Report: Refer BRSR Section,
Page 161-196

2-18 Evaluation of the performance of the highest governance body

FY 2022-23 Annual Report, Page 123-157

207-1 Approach to tax

FY 2022-23 ESG Report, Page 75

2-19 Remuneration policies

FY 2022-23 Annual Report, Page 123-157

207-2 Tax governance, control, and risk management

FY 2022-23 ESG Report, Page 75

2-20 Process to determine remuneration

FY 2022-23 Annual Report, Page 123-157

207-3 Stakeholder engagement and management of concerns related
to taxFY 2022-23 ESG Report, Page 75

2-21 Annual total compensation ratio

FY 2022-23 Annual Report, Page 123-157

302-1 Energy consumption within the organization

FY 2022-23 ESG Report, Page 24

2-22 Statement on sustainable development strategy

FY 2022-23 Annual Report, Page 123-157

302-2 Energy consumption outside of the organization

FY 2022-23 ESG Report, Page 24

2-23 Policy commitments

FY 2022-23 ESG Report, Page 72-73

302-4 Reduction of energy consumption

FY 2022-23 ESG Report, Page 24

2-24 Embedding policy commitments

FY 2022-23 ESG Report, Page 72-73

303-1 Interactions with water as a shared resource

FY 2022-23 ESG Report, Page 26-29

2-25 Processes to remediate negative impacts

FY 2022-23 Annual Report, Page 123-157

303-2 Management of water discharge-related impacts

FY 2022-23 ESG Report, Page 26-29

2-26 Mechanisms for seeking advice and raising concerns

FY 2022-23 Annual Report, Page 123-157

303-4 a Water Discharge

FY 2022-23 ESG Report, Page 26-29

2-27 Compliance with laws and regulations

FY 2022-23 Annual Report, Page 123-157

303-5 Water consumption

FY 2022-23 ESG Report, Page 26-29

2-28 Membership associations

FY 2022-23 ESG Report, Page 75
FY 2022-23 ESG Report, Page 64-65

304-1 Operational sites owned, leased, managed in, or adjacent to,protected areas and areas of high biodiversity value outside protected
areas

FY 2022-23 ESG Report, Page 33

2-29 Approach to stakeholder engagement114

ESG Report 2022-23

Delivering Value for Our People and Planet

115

Persistent Systems

Corporate Overview Environment Social

Governance

Key Performance Indicators

AnnexureDISCLOSURE

Reference

DISCLOSURE

Reference

304-2 Significant impacts of activities, products, and services on
biodiversity

FY 2022-23 ESG Report, Page 33

405-1 Diversity of governance bodies and employees

FY 2022-23 ESG Report, Page 56-59, 67

405-2 Ratio of basic salary and remuneration of women to men

305-1 Direct (Scope 1) GHG emissions

FY 2022-23 ESG Report, Page 23, 108

FY 2022-23 Annual Report, Refer BRSR Section,
Page 161-196

305-2 Energy indirect (Scope 2) GHG emissions

FY 2022-23 ESG Report, Page 23, 108

406-1 Incidents of discrimination and corrective actions taken

FY 2022-23 Annual Report: Refer BRSR Section,
Page 161-196

305-3 Other indirect (Scope 3) GHG emissions

FY 2022-23 ESG Report, Page 23, 108

FY 2022-23 ESG Report, Page 70-71

305-6 Emissions of ozone-depleting substances (ODS)FY 2022-23 ESG Report, Page 109407-1 Operations and suppliers in which the right to freedom of
association and collective bargaining may be at risk408-1 Operations and suppliers at significant risk for incidents of childlabor

FY 2022-23 Annual Report: Refer BRSR Section, Page
161-196409-1 Operations and suppliers at significant risk for incidents offorced or compulsory labor

FY 2022-23 Annual Report: Refer BRSR Section,
Page 161-196

410-1 Security personnel trained in human rights policies orprocedures

FY 2022-23 Annual Report: Refer BRSR Section,
Page 161-196

413-1 Operations with local community engagement, impact
assessments, and development programs

FY 2022-23 Annual Report, Page 105-119

305-7 Nitrogen oxides (NOx), sulfur oxides (SOx), and other significant FY 2022-23 ESG Report, Page 109
air emissions
306-1 Waste generation and significant waste-related impacts

FY 2022-23 ESG Report, Page 30-32, 109

306-2 Management of significant waste-related impacts

FY 2022-23 ESG Report, Page 30-32

306-3 Waste generated

FY 2022-23 ESG Report, Page 30-32, 109

306-5 Waste directed to disposal

FY 2022-23 ESG Report, Page 30-32, 109

401-1 New employee hires and employee turnoverFY 2022-23 ESG Report, Page 111

413-2 Operations with significant actual and potential negative
impacts on local communities

FY 2022-23 Annual Report, Page 123-157

401-2 Benefits provided to full-time employees that are not provided
to temporary or part-time employees

FY 2022-23 Annual Report: Refer BRSR Section,
Page 161-196

418-1 Substantiated complaints concerning breaches of customer
privacy and losses of customer data

FY 2022-23 Annual Report: Refer BRSR Section,
Page 161-196

401-3 Parental leave

FY 2022-23 Annual Report: Refer BRSR Section,
Page 161-196

403-1 Occupational health and safety management system

FY 2022-23 ESG Report, Page 111

403-2 Hazard identification, risk assessment, and incident investigation FY 2022-23 ESG Report, Page 52-53
403-3 Occupational health services

FY 2022-23 ESG Report, Page 54-55

403-4 Worker participation, consultation, and communication on
occupational health and safety

FY 2022-23 ESG Report, Page 70-71

403-5 Worker training on occupational health and safety

FY 2022-23 ESG Report, Page 52-53

403-6 Promotion of worker health

FY 2022-23 ESG Report, Page 52-53

403-7 Prevention and mitigation of occupational health and safety
impacts directly linked by business relationships

FY 2022-23 ESG Report, Page 52-53

403-8 Workers covered by an occupational health and safety
management system

FY 2022-23 ESG Report, Page 52-53

403-9 Work-related injuries

FY 2022-23 Annual Report: Refer BRSR Section,
Page 161-196

403-10 Work-related ill health

FY 2022-23 Annual Report: Refer BRSR Section,
Page 161-196

404-1 Average hours of training per year per employee

FY 2022-23 ESG Report, Page 46-51, 111

404-2 a Programs for upgrading employee skills and transition
assistance programs

FY 2022-23 ESG Report, Page 46-51, 111

404-3 Percentage of employees receiving regular performance andcareer development reviews

FY 2022-23 Annual Report: Refer BRSR Section,
Page 161-196

116

ESG Report 2022-23

SDG & UNGC Principles, Material Topics
SDG’s

UNGC Principle

Material Topics

GRI Disclosure

SDG6, SDG7, SDG11, SDG12,
SDG13

Principle 7;
Principle 8;
Principle 9.

Climate action

201-2

Energy, and Emission Management302-1; 302-4; 305-1; 305-2;
305-3; 305-6; 305-7

Water Management303-1; 303-2; 303-4; 303-5;

Waste Management306-1; 306-2; 306-3; 306-5

Empowering our people

404-2

Diversity and inclusion

401-1; 405-1

Social Responsibility

413-1

Employee health, safety, andwell-being

201-3; 403-1; 403-2; 403-3;
403-4; 403-5; 403-6; 403-7;
403-8

Supply chain Management407-1; 408-1; 409-1

Corporate governance and ethics

2-9; 2-10; 2-11; 2-12; 2-13;
2-14;2-15; 2-16; 2-17
2-18; 2-19; 2-20; 2-21; 2-23;
2-24; 2-25; 2-26; 2-27; 2-28
2-29; 2-30; 205-1; 205-2;
205-3

Economic performance

201-1; 203-1; 203-2; 206-1

Data privacy and security

418-1

Customer Stewardship

418-1

SDG1, SDG2, SDG3, SDG4, SDG5,
SDG8, SDG10

SDG4 , SDG5, SDG8, SDG9 ,SDG10, SDG17

Principle 1;
Principle 5;
Principle 6.

Principle 2;
Principle 3;
Principle 4;
Principle 10.

Delivering Value for Our People and Planet

117

Persistent Systems

Corporate Overview Environment Social

Governance

Key Performance Indicators

Annexure

ESG Material Topics and KPIs
Material Topics

Scope of Material Topic

Reason for Material Topic

Climate Action 1.	Implementation of renewable energy
sources, such as solar panels and windturbines, in company operations

Persistent Systems recognizes the urgent
need to address climate change andunderstands the potential impacts it canhave on the environment and society. By
2. 	Reduction of greenhouse gas emissions prioritizing climate action, the company
through energy efficiency measures and aims to contribute to global efforts tothe use of cleaner technologies
mitigate greenhouse gas emissions andbuild a more sustainable future.
3. 	Integration of climate change
considerations into business strategies
and decision-making processes

GRI Topic and Indicator

Material Topics

Scope of Material Topic

Reason for Material TopicGRI Topic and Indicator

3-1: 210-2; 302-1;
305-1;305-2

Diversity andInclusion

1. 	Promoting a diverse and inclusive
workplace culture

Persistent Systems believes in the
power of diversity and inclusion to drive
innovation, creativity, and organizational
success. By prioritizing diversity andinclusion, the company aims to createa workplace that embraces different
perspectives, experiences, andbackgrounds, leading to better problemsolving, enhanced employee morale, anda more inclusive corporate culture.

405-1; 406-1; 404-;
404-3

2. 	Ensuring equal opportunities forall employees, regardless of theirbackground or characteristics
3.	Implementing policies and practices
to prevent discrimination and promotefairness
4. 	Encouraging diversity in leadership
positions and decision-making
processes

4. 	Collaboration with stakeholders toaddress climate-related risks andopportunities.
Energy, andEmissionManagement

Water
Management

Waste
Management

1. 	Monitoring and optimizing energy
Persistent Systems acknowledges
consumption in facilities and operations. the importance of responsible energy
management and aims to minimize its
2. 	Investing in energy-efficientenvironmental footprint. By actively
technologies and practices to reducemanaging energy use and emissions,carbon footprint.
the company can reduce its contribution
to climate change while also potentially3. 	Tracking and reporting emissions torealizing cost savings and improving
identify areas for improvement.
operational efficiency.
4. 	Exploring and implementing renewableenergy solutions to reduce reliance on
fossil fuels.

Persistent Systems recognizes the303-1; 303-2; 303-4;
significance of water as a valuable303-5; 413-1
resource and aims to manage it
2. 	Implementing water-saving technologies responsibly. By prioritizing waterand systems in facilities
management, the company cancontribute to water conservation,
3. 	Monitoring and reducing water
protect local ecosystems, and ensure theconsumption in operations
availability of clean water for communities
4. 	Engaging with local communities toand future generations.
support water conservation efforts
1. 	Implementing waste reduction andrecycling programs within company
operations

3. 	Exploring opportunities for waste
valorization and resource recovery
4. 	Promoting awareness and education
among employees and stakeholders on
waste management practices
1. 	Providing opportunities for professional
development and growth2. 	Promoting a culture of innovation andcreativity
3. 	Encouraging employee engagement
and involvement in decision-making
processes
4. 	Supporting work-life balance andfostering a positive work environment118

ESG Report 2022-23

Persistent Systems is committed
to minimizing waste generationand promoting sustainable waste
management practices. By implementing
effective waste reduction, recycling, anddisposal measures, the company can
reduce its environmental impact andcontribute to the circular economy bypromoting resource conservation andminimizing landfill waste.

SocialResponsibility

Persistent Systems recognizes its rolein society and aims to be a responsible
corporate citizen. By prioritizing social
2. 	Supporting social causes and initiatives
responsibility, the company seeks tothat align with the company's values
make a positive impact on communities,
3. 	Upholding ethical business practices and support social causes, and contribute tosustainable development.
corporate governance standards
1.	Engaging in philanthropic activities andcommunity outreach programs

4. 	Contributing to the well-being anddevelopment of the communities where
the company operates"

1. 	Conserving water through efficient use
and responsible practices

2. 	Proper segregation and disposal ofwaste materials

Empowering
Our People

302-1; 302-4; 305-1;
305-2;

306-1; 306-2; 306-3;
306-5

Persistent Systems recognizes the value of 3-1; 401-2; 403-5;
its employees as the driving force behind 403-5; 404-2;
its success. By empowering its people,
404-1
the company aims to create a motivatedand skilled workforce, foster innovation,and enhance employee satisfaction andretention.

Employee
1. 	Ensuring a safe and healthy work
Persistent Systems values the health,
Health, Safety,
environment for employees
safety, and well-being of its employees.
andBy prioritizing employee health and2. 	Providing resources and programs to
Well-being
safety, the company aims to create a
promote physical and mental well-being. conducive work environment, enhance
3. 	Implementing safety protocols andtraining to prevent workplace accidents
and injuries.

403-1; 403-2; 403-3;
403-4; 403-5; 403-6;
403-7; 403-8

employee satisfaction and productivity,and demonstrate its commitment to thewell-being of its workforce.

4. 	Fostering a supportive and inclusive
culture that prioritizes employee
well-being.
Supply Chain
Management

1. 	Assessing and managing theenvironmental and social impacts of the
supply chain
2. 	Promoting responsible sourcing andsupplier diversity
3. 	Collaborating with suppliers to improvesustainability practices.

Persistent Systems recognizes theimportance of responsible supply chain
management. By prioritizing supply
chain sustainability, the company aims tominimize environmental and social risks,
promote ethical business practices, andcreate a resilient and sustainable supply
chain.

405-1; 407-1; 408-1;
409-1

Persistent Systems values strong
corporate governance and ethicalconduct as a foundation for sustainablebusiness practices. By prioritizing
corporate governance and ethics,
the company aims to build trustwith stakeholders, maintain longterm relationships, and mitigate risks
associated with unethical behavior.

2-9; 2-10; 2-11; 2-14;
2-18; 2-19; 2-23;
2-24; 2-29; 405-1

4. 	Ensuring transparency and ethicalpractices throughout the supply chain"
Corporate
Governanceand Ethics

1. 	Establishing and maintaining robust
corporate governance structures andprocesses
2. 	Adhering to ethical business practices
and principles
3. 	Ensuring transparency andaccountability in decision-making
4. 	Promoting a culture of integrity andcompliance with legal and regulatory
requirements

Delivering Value for Our People and Planet

119

Persistent Systems

Corporate Overview Environment Social

Material Topics

Scope of Material Topic

Economic
Performance

1. 	Driving sustainable and profitable
growthData Privacy
and Security

Reason for Material Topic

Persistent Systems recognizes theimportance of economic performance
as a fundamental aspect of business2. 	Creating value for shareholders andsustainability. By focusing on sustainable
stakeholders
growth and financial stewardship, the3. 	Managing financial resources effectively company aims to generate long-termvalue, support its stakeholders, andand responsibly
ensure its ability to invest in innovation
4. 	Monitoring and reporting financial
and responsible business practices.
performance and key performanceindicators.
1. 	Implementing robust data protection
and security measures
2. 	Complying with applicable data privacy
laws and regulations
3. 	Safeguarding customer and employee
data against unauthorized access orbreaches

GRI Topic and IndicatorTopic

201-1; 201-2; 203-2;
207-3;

Recruiting and
TC-SI-330a.1
Managing a Global,
Diverse and skilled
Workforce
TC-SI-330a.2

418-1
Persistent Systems acknowledges theimportance of data privacy and security
in the digital age. By prioritizing data
privacy and security, the company aims
to protect the confidentiality, integrity,
and availability of data, maintain customer
trust, and comply with relevant dataprotection regulations.

4. 	Ensuring transparency andaccountability in data handling andprocessing practices
Customer
Stewardship1. 	Providing high-quality products andservices that meet customer needs.
2. 	Ensuring transparency in pricing, terms,
and conditions
3. 	Promoting fair and respectful treatmentof customers
4. 	Engaging with customers to understandtheir feedback, concerns, andexpectations.

Persistent Systems values its relationship418-1with customers and strives to be a
responsible steward of their interests.
By prioritizing customer stewardship,
the company aims to enhance customer
satisfaction, build long-term relationships,
and deliver value through ethical andcustomer-centric business practices.

Disclosure

Governance

Key Performance Indicators

Description

Category

Page Number

Percentage of employees that area. 	Foreign nationalsb. 	Located offshore

Quantitative

Key Indicator - Talent Pool Employees by Region;
Page 117

Employee engagement as a percentage

Quantitative

Employee Satisfaction;
Page 50

Percentage of gender representation fora. 	Management,b. 	Technical staffc. 	All other employees

Quantitative

Key Indicator - Talent Pool Employees by Region;
Page 117

Intellectual Property TC-SI-520a.1
Protection andCompetitive
Behavior

Total amount of monetary losses as a resultof legal proceedings associated with anticompetitive
behavior regulations

Quantitative

Annual Report Page XXX;BRSR PRINCIPLE 9Managing
Systemic Risks
from Technology
Disruptions

Description of business continuity risks
related to disruptions of operations

Discussion
andAnalysis

Risk Management;
Page 82 to 87

TC-SI-330a.3

TC-SI-550a.2

UNGC 10 Principles
Category

HUMAN RIGHTS

Principles

Statement

Page No.

Principle 1

Businesses should support and respect the protection ofinternationally proclaimed human rights

Refer Section: 'Human Rights
Protection'; Page 60-61

Principle 2Make sure that they are not complicit in human rights abuses Refer Section: 'Human Rights
Protection'; Page 60-61

Principle 3

Businesses should uphold the freedom of association andthe eﬀective recognition of the right to collective bargaining

Principle 4

The elimination of all forms of forced and compulsory labour Refer Section: 'Human Rights
Protection'; Page 60-62

Principle 5

The eﬀective abolition of child labour

Refer Section: 'Supply Chain
Management'; Page 50-51

Principle 6

The elimination of discrimination in respect of employment
and occupation

Refer Section:'Diversity,
Equity, Inclusion andBelonging'; Page 48-49

Principle 7

Businesses should support a precautionary approach toenvironmental challenges

Principle 8

Undertake initiatives to promote greater environmental
responsibility

Principle 9

Encourage the development and diﬀusion ofenvironmentally friendly technologies

Principle 10

Businesses should work against corruption in all its forms,
including extortion and bribery

SASB Reporting
Topic

Disclosure

Description

Category

Page Number

Environmental
Footprint ofHardware
Infrastructure

TC-SI-130a.1

a. 	Global Energy Consumptionb. 	Percentage of Renewable energy
consumptionc 	Percentage of Grid energy consumption

Quantitative

Energy and Emission
Management; Page 24a. 	Total water consumedb. 	Total water recycled

Quantitative

Description of policies and practices relating
to behavioral advertising and user privacy

Discussion
andAnalysis

Privacy policy - https://www.persistent.com/
privacy-notice/a. 	Number of data breaches.
b. 	Percentage involving personallyidentifiable information (PII),
c. Number of users affected

Quantitative

Cyber Security – Defend:
Protect: Respond: Recover;Page 94 to 99

Description of approach to identifying andaddressing data security risks, including useof third-party cyber security standards

Discussion
andAnalysis

TC-SI-130a.2
Data Privacy
and Freedom ofExpression

TC-SI-220a.1

Data Security

TC-SI-230a.1

TC-SI-230a.2

120

ESG Report 2022-23

Annexure

LABOR

Water Management;
Page 26 to 29

ENVIRONMENTANTI-CORRUPTION

Refer Section: 'Human Rights
Protection'; Page 60-61 andAnnual Report FY 2022-23
BRSR Page 31

Refer Section: 'Environment';
Page 20-31

Refer Section : 'Governance';
Page 54-55

Data Privacy Risk; Page 86

Delivering Value for Our People and Planet

121

Persistent Systems

Corporate Overview Environment Social

Governance

Key Performance Indicators

Annexure

Methodology of Computing Data for ESG Report
This section covers the conventions and computation methods as per standards and framework for
calculating all key indicators reported in the section such as GHG emissions, electricity and water
consumptions and waste generation.
GHG Emissions:
Persistent has a robust inventory of GHG emissions to properly assess and prioritize areas of GHG
emission reduction. Categories of emissions having potential to be reduced either through direct
reduction under operational control or Market alternatives under external controls are included.
GHG gases included in the report are carbon dioxide (CO2 ), hydrofluorocarbons (HFCs), andperfluorocarbons (PFCs) emissions.
Energy:Emission Source

Emission Factor
CO2eUnit of Measurement

Reference

Power grid – USA

0.386596

t CO2e/MWh

EPA Emission factor – 23 Table 6
electricity

Power grid – Australia

0.6491

Kg CO2e/kWh

IEA – 2022 emission factor

Power grid – Canada

0.1215

Kg CO2e/kWh

IEA – 2022 emission factor

Power grid – Costa Rica

0.0002

Kg CO2e/kWh

IEA – 2022 emission factor

Power grid – France

0.0541

Kg CO2e/kWh

IEA – 2022 emission factor

Power grid – Germany

0.3561

Kg CO2e/kWh

IEA – 2022 emission factor

Power grid – Mexico

0.3710Kg CO2e/kWh

IEA – 2022 emission factor

Power grid – Sri Lanka

0.6057

Kg CO2e/kWh

IEA – 2022 emission factor

Power grid – Switzerland

0.0229Kg CO2e/kWh

IEA – 2022 emission factor

Power grid – United Kingdom

0.22

Kg CO2e/kWh

IEA – 2022 emission factor

Business Travel – Air Long Haul (Average)

0.10208

Kg CO2e/passenger.km

UK.Gov 2022 (DEFRA)

Energy consumption within operational controls of Persistent are recorded from grid electricity, fuelconsumed in diesel generators, owned and fully leased vehicles. Energy consumption recorded outside
the organization operational boundaries consists of fuel used by contractor vehicles used for employee
commute, business travel (air, train and road).

Scope 3Business Travel – Air Short Haul (Average)

0.08117

Kg CO2e/passenger.km

UK.Gov 2022 (DEFRA)

Water:

Business Travel – Train – National rail

0.007837

Kg CO2e/passenger.km

India GHG - Non Suburban train

Total water consumed at owned locations in India geo is tracked through water meter and throughwater purchase invoices. Total water recycled is measured through water inlet and water outlet fromsewage treatment plants (STP) is monitored and tracked through water meters.

Business Travel – Road – Buses Coach

0.02733

Kg CO2e/passenger.km

UK.Gov 2022 (DEFRA)

Business Travel – Road – Medium Car

0.16800414

Kg CO2e/ km

UK.Gov 2022 (DEFRA)

Associate Commute – Small car

0.13989414

Kg CO2e/ km

UK.Gov 2022 (DEFRA)

Waste:

Associate Commute – Medium car

0.16800414

Kg CO2e/ km

UK.Gov 2022 (DEFRA)

Associate Commute – Average local bus

0.0965

Kg CO2e/passenger.km

UK.Gov 2022 (DEFRA)

T&D Losses – India renewable

0.1434

Kg CO2e/kWh

CEA CO2 20th Electric Power Surveyof India

T&D Losses – USA

0.017

Kg CO2e/kWh

IEA – 2022 emission factor

T&D Losses – Australia

0.0301

Kg CO2e/kWh

IEA – 2022 emission factor

T&D Losses – Canada

0.0061

Kg CO2e/kWh

IEA – 2022 emission factor

T&D Losses – Costa Rica

0.0002

Kg CO2e/kWh

IEA – 2022 emission factor

T&D Losses – France

0.0035

Kg CO2e/kWh

IEA – 2022 emission factor

T&D Losses – Germany

0.0143

Kg CO2e/kWh

IEA – 2022 emission factor

T&D Losses – Mexico

0.0461

Kg CO2e/kWh

IEA – 2022 emission factor

T&D Losses – Sri Lanka

0.0612

Kg CO2e/kWh

IEA – 2022 emission factor

T&D Losses – Switzerland

0.0011

Kg CO2e/kWh

IEA – 2022 emission factor

T&D Losses – United Kingdom

0.0159Kg CO2e/kWh

IEA – 2022 emission factor

Waste generated at owned locations and few multi-tenant locations in India is segregated by type ofwaste and measured at locations. The overall quantity of waste generated and disposed is calculated
and maintained at location with evidence in the form of receipts and registers. Waste disposed iscategorized as Hazardous, Non-hazardous and E-waste and appropriately disposed after recycling.
Emission Factors : GHG Calculation:
Emission Factor
CO2eUnit of Measurement

Reference

Diesel – Owned and fully leased DG

2.6988Kg CO2e/liter

UK.Gov 2022 (DEFRA)

Diesel – company owned vehicles

2.55784

Kg CO2e/liter

UK.Gov 2022 (DEFRA)

Petrol – company owned vehicles

2.16185

Kg CO2e/liter

UK.Gov 2022 (DEFRA)

Refrigerant – R410 a

2088

Kg CO2e/Kg

UK.Gov 2022 (DEFRA)

Refrigerant – R407c

2107

Kg CO2e/Kg

UK.Gov 2022 (DEFRA)

Refrigerant – R22

1810

Kg CO2e/Kg

UK.Gov 2022 (DEFRA)

Power grid – India Non-renewable

0.815

Kg CO2e/kWh

CEA CO2 Baseline Database for the
Indian Power Sector – 2022, V18.0

Power grid – India renewable

0.715

Kg CO2e/kWh

CEA CO2 Baseline Database for the
Indian Power Sector – 2022, V18.0

Emission Source

Scope 1

Scope 2122

ESG Report 2022-23

Delivering Value for Our People and Planet

123

Persistent Systems

Corporate Overview Environment Social

Glossary of Acronyms

Governance

Key Performance Indicators

Assurance Certificate

Acronym

ExpansionAcronym

Expansion

AHU

Air Handling Unit

ISV

Independent Software Vendor

AR

Annual Report

KRA

Key Result Area

BCMS

Business Continuity Management Systems

KL

Kilo Litre

BRSR

Business Responsibility and Sustainability
Reporting

KPI

Key Performance Indicator

BEE

Bureau of Energy Efficiency

kWh

Kilowatt-hour

CAPA

Corrective Action Preventive Action

L&D

Learning and Development

CBA

Collective Bargaining Agreements

LEDLight-Emitting Diode

CEO

Chief Executive Officer

LEED

Leadership in Energy and Environmental Design

COO

Chief Operations Officer

Mt

Metric Ton

CDP

Carbon Disclosure ProjectMW

Mega Watt

CFL

Compact Fluorescent Lamps

MWh

Megawatt-hour

CO2eCarbon Dioxide equivalent

NOC

Network Operations Center

COP

Communication of ProgressNGO

Non-Governmental Organization

CPO

Chief People Officer

NOx

Oxides of Nitrogen

CRM

Customer Relationship Management

NPS

Net Promoter Score

CRO

Chief Risk Officer

ODS

Ozone Depleting Substance

CRI

Carpets and Rug Institute

OHS

Operational Health and Safety

CSAT

Customer Satisfaction Score

PM

Particulate Matter

Scope, Boundary and Limitations

CSR

Corporate Social Responsibility

PIMS

Privacy Information Management System

DEIB

Diversity, Equity, Inclusion and Belonging

PwD

People with Disabilities

The reporting scope and boundary encompasses Environmental, Social and Governance performance of Persistent
Systems operations mentioned as brought out in the Report in the section ‘About this Report’ for the activities
undertaken by the Company during the financial year 1st April 2022 – 31st March 2023.

DG

Diesel Generator

R&D

Research and Development

D&I

Diversity & Inclusion

RMC

Risk Management Committee

DP

Development Program

ROW

Rest of the World

EHS

Environmental, Health & Safety

SASB

Sustainability Accounting Standards Board

EOL

End of Life

SBTi

Science Based Target initiative

EPM

External Posture Management

SDG

Sustainable Development Goals

ERM

Enterprise Risk Management

SEBI

Securities and Exchange Board of India

ESAT

Employee Satisfaction Score

SOC

Security Operation Center

ESG

Environmental, Social and Governance

SRC

Stakeholder Relationship and ESG committee

FY

Financial Year

STP

Sewage Treatment Plant

GHG

Green House Gases

SOx

Oxides of Sulphur

GJ

Giga Joule

TCFD

Task Force on Climate-Related Financial
Disclosures

GRC

Governance, Risk Management and Compliance

UNGC

United Nations Global Compact

GRI

Global Reporting Initiative

VFD

Variable Frequency Drive

HFC

Hydro Flour Carbon

VOC

Volatile Organic Compounds

IGBC

Indian Green Building Council

UPS

Uninterruptible Power Supply

IHAVInternational Association for Human Values

WC

Work Council

IT

Information Technology

WCAG

Web Content Accessibility Guidelines

IP

Internet Protocol

ISR

Individual Social Responsibility

Introduction

DNV Business Assurance India Private Limited (‘DNV’), has been commissioned by Persistent Systems Limited (Corporate
Identity Number L72300PN1990PLC056696, hereafter referred to as ‘Persistent Systems’ or ‘the Company’) to undertakean independent assurance of the Company’s ESG Report 2022-23 in its printed format (‘the Report’) for the financial year
ending 1st April 2022- 31st March 2023. The sustainability disclosures in this Report have been prepared by Persistent
Systems based on the material topics identified by them and in accordance with the Global Reporting Initiative (GRI)
Sustainability Reporting Standards 2021 (‘GRI Standards’). The intended user of this assurance statement is theManagement of Persistent Systems (‘the Management’). Our assurance engagement was planned and carried out during
April 2023 – June 2023.

Responsibilities of the Management of Persistent Systems and of the Assurance Provider
The Management of the Company has the sole responsibility for the preparation of the Report and are responsible for all
information disclosed in the Report as well as the processes for collecting, analyzing and reporting the information
presented in the Report. Persistent Systems is also responsible for ensuring the maintenance and integrity of its website
and any referenced disclosures on sustainability performance. In performing this assurance work, DNV’s responsibility isto the Management of the Company; however, this statement represents our independent opinion and is intended to
inform the outcome of the assurance to the stakeholders of Persistent Systems.
We provide a range of other services to the Company, none of which in our opinion, constitute a conflict of interest withthis assurance work. Our assurance engagements are based on the assumption that the data and information provided
by the Company to us as part of our review have been provided in good faith and are free from misstatements.

We performed a limited level of assurance based on our assurance methodology VeriSustainTM1. The assurance
engagement considers an uncertainty of ±5% based on materiality threshold for estimation/measurement errors andomissions. We did not engage with any external stakeholders as part of this assurance engagement.
During the assurance process, we did not come across limitations to the scope of the agreed assurance engagement. The
reported data on economic performance, expenditure towards Corporate Social Responsibility (CSR) activities, and otherfinancial data are based on audited financial statements issued by the Company’s statutory auditors which is subject to a
separate audit process. We were not involved in the review of financial information within the Report.

Basis of our Opinion
As part of the assurance process, a multi-disciplinary team of sustainability specialists performed assurance work for
selected sample sites of Persistent Systems. We adopted a risk-based approach, that is, we concentrated our assurance
efforts on the issues of high material relevance to the Company’s business and its key stakeholders. We carried out thefollowing activities:•
Reviewed the approach to stakeholder engagement and materiality determination process and its outcomes as
brought out in the Report.
•
Interviews with selected senior managers responsible for management of sustainability issues and review of selected
evidence to support topics disclosed in the Report. We were free to choose interviewees and interviewed those withoverall responsibility to deliver the Company’s sustainability objectives.
•
Sample based assessment of site-level sustainability performance data through on-site audits at Bhageerath–Pune,
Pune-AR-PG, Pune-Hinjawadi, Goa-Charak Bhaskar and Bengaluru-RMZ to review processes and systems for
preparing the data and conducted remote assessment through corporate discussions on the implementation ofsustainability strategy. We were free to choose sites for conducting our assessment.
•
Reviewed the process of reporting on Organizational Profile, Strategy, Ethics and Integrity, Governance, Stakeholder
Engagement and Reporting Practices based on GRI 2: General Disclosures 2021.
•
Reviewed the performance disclosure of identified material topics and related GRI Standards; that is, carried out anassessment of the processes for gathering and consolidating performance data related to identified material topics
1
The VeriSustain protocol is based on the principles of various assurance standards including International Standard on Assurance
Engagements 3000 (ISAE 3000) Revised (Assurance Engagements other than Audits or Reviews of Historical Financial Information) and
the GRI Principles for Defining Report Content and Quality, international best practices in verification and our professional experience; andis available on request from www.dnv.com

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Persistent Systems•

Corporate Overview Environment Social

and, for a sample, checked the processes of data consolidation to assess the Reliability and Accuracy of performance
disclosures reported based on GRI’s topic-specific Standards.
Verification of the data consolidation of reported performance disclosures in context to the Principle of Completenessas per VeriSustain for a limited level of verification.

OpinionOn the basis of the verification undertaken, nothing has come to our attention to suggest that the Report does notproperly adherence to the GRI Standards 2021, including GRI 2: General Disclosures 2021, GRI 3-3: Management ofMaterial topics and disclosures related to the following GRI Standards which have been chosen by Persistent Systems tobring out its performance against a set of identified material topics:- GRI 201: Economic performance 2016 – 201-1, 201-2;- GRI 202: Market Presence 2016 – 202-1;- GRI 203: Indirect economic impact 2016 – 203-1;- GRI 205: Anti-corruption 2016 – 205-2;- GRI 302: Energy 2016 – 302-1;- GRI 303: Water and Effluents 2018 – 303-1, 303-5;- GRI 305: Emissions 2016 – 305-1, 305-2, 305-6, 305-7;- GRI 306: Waste 2020 – 306-1, 306-2;- GRI 401: Employment 2016 – 401-1;- GRI 403: Occupational Health and Safety 2018 – 403-1, 403-2;- GRI 404: Training and Education 2016 – 404-1, 404-3;- GRI 418: Customer Privacy 2016 – 418-1;

Observations

Without affecting our assurance opinion, we provide the following observations against the principles of VeriSustain:
Materiality
The process of determining the issues that is most relevant to an organization and its stakeholders.
The Report explains out the materiality assessment process carried out by the Company which has considered concernsof internal and external stakeholders, and inputs from peers and the industry, as well as issues of relevance in terms ofimpact for Persistent Systems business. The list of topics has been prioritized, reviewed and validated, and the Company
has indicated that there is no significant change in material topics from the previous reporting period based on theinternal materiality review process.
Nothing has come to our attention to suggest that the Report does not meet the requirements related to the
Principle of Materiality.
Stakeholder InclusivenessThe participation of stakeholders in developing and achieving an accountable and strategic response to Sustainability.
The Report brings out the stakeholders who have been identified as significant to Persistent Systems, as well as themodes of engagement established by the Company to interact with these stakeholder groups. The Company has
identified clients and partners, investors/shareowners, suppliers, society at large and employees and their families as its
key stakeholder groups. The key topics of concern and needs of each stakeholder group which have been identified
through these channels of engagement are further brought out in the Report.
Nothing has come to our attention to suggest that the Report does not meet the requirements related to the
Principle of Stakeholder Inclusiveness.
ResponsivenessThe extent to which an organization responds to stakeholder issues.
The Report articulates the Company’s responses to the stakeholder engagement processes carried out by the Company,
as well as the approaches and performance related to identified material topics through GRI topic-specific Standards. The
Company has further linked its material topics to its overall strategies, management approach and goal setting
processes, as well as future challenges of the business.
Nothing has come to our attention to believe that the Report does not meet the requirements related to the
Principle of Responsiveness.
Reliability
The accuracy and comparability of information presented in the report, as well as the quality of underlying data
management systems.
The Report brings out the systems and processes that the Company has set in place to capture and report its
performance related to identified material topics across its reporting boundary. The majority of data and information
verified through our remote assessments with Persistent Systems management teams and data owners at the Corporate
Office and sampled sites within the boundary of the Report were found to be fairly accurate and reliable. Some of the
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Key Performance Indicators

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data inaccuracies identified during the verification process were found to be attributable to transcription, interpretation
and aggregation errors. These data inaccuracies have been communicated for correction and the related disclosures werereviewed post correction.
Nothing has come to our attention to believe that the Report does not meet the principle of Reliability and
Accuracy.
CompletenessHow much of all the information that has been identified as material to the organisation and its stakeholders is reported?
The Report brings out the Company’s performance, strategies and approaches related to the environmental, social andgovernance issues that it has identified as material for its operational locations coming under the boundary of the report,
for the chosen reporting period while applying and considering the requirements of the GRI’s Principle of Completeness.
The environmental reporting boundaries predominantly cover its key operations in India, moving forward the Company isplanning to expand its reporting boundary with respect to environmental issues to its global operations.
Nothing has come to our attention to suggest that the Report does not meet the Principle of Completenesswith respect to scope, boundary and time.
Neutrality
The extent to which a report provides a balanced account of an organization’s performance, delivered in a neutral tone.
The Report brings out the disclosures related to Persistent Systems performance during the reporting period in a neutral
tone in terms of content and presentation, while considering the overall macroeconomic and industry environment.
Nothing has come to our attention to suggest that the Report does not meet the requirements related to the
Principle of Neutrality.
Statement of Competence and Independence
DNV applies its own management standards and compliance policies for quality control, in accordance with ISO IEC
17021:2015 - Conformity Assessment Requirements for bodies providing audit and certification of management systems,
and accordingly maintains a comprehensive system of quality control including documented policies and procedures
regarding compliance with ethical requirements, professional standards and applicable legal and regulatory requirements.
We have complied with the DNV Code of Conduct2 during the assurance engagement and maintain independence as
required by relevant ethical requirements relevant ethical requirements including the ISAE 3000 (Revised) Code of
Ethics. This engagement work was carried out by an independent team of sustainability assurance professionals. DNV
was not involved in the preparation of any statements or data included in the Report except for this Assurance Statement
and Management Report. DNV maintains complete impartiality toward stakeholders interviewed during the assurance
process.
For DNV Business Assurance India Private Limited

Digitally signed
by Aravind, Arun
Date: 2023.06.21
15:15:45 +05'30'
Arun Aravind A
Lead Verifier
DNV Business Assurance India Private Limited, India.
21st June 2023, Mumbai, India.

Digitally signed by
Lankalapalli, Bhargav
Date: 2023.06.21
15:24:41 +05'30'
Bhargav Lankalapalli
Technical Reviewer
DNV Business Assurance India Private Limited, India.

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DNV Business Assurance India Private Limited is part of DNV – Business Assurance, a global provider of certification, verification,assessment and training services, helping customers to build sustainable business performance. www.dnv.com

2

The DNV Code of Conduct is available on request from www.dnv.com (https://www.dnv.com/about/in-brief/corporate-governance.html)

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Persistent Systems Limited
CIN: L72300PN1990PLC056696
Registered Oﬃce
Bhageerath, 402 Senapati Bapat Road
Pune 411 016, India
Tel: +91 20 6703 0000
Fax: +91 20 6703 0008
info@persistent.com
www.persistent.com

persistent-systems

persistentsys

persistentsystems

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