Sudheer Prabhu, Group Chief Technology Officer, is navigating Mauritius based Cim Finance on a remarkable green journey. The company’s commitment to sustainability extends beyond mere rhetoric, which is seen in its concrete actions and impactful partnerships.
Boosting Energy Efficiency
Over the past 2 years, Cim Finance has taken significant strides to enhance energy efficiency within its IT infrastructure. One pivotal move involved consolidating hardware and servers in their data center. By transitioning from individual servers to virtualization, they achieved 2 critical goals: reducing emissions and optimizing server utilization by allowing better resource allocation and minimizing energy waste.
The company doesn’t discard old servers outright. Instead, it evaluates existing resources and repurposes them for testing and development whenever possible. This reuse strategy minimizes waste and extends the lifecycle of production servers. The company has migrated some development and test workloads to the cloud to leverage energy-efficient infrastructure. Large-scale cloud providers offer optimized resources, contributing to overall energy savings.
During non-business hours, they shut down non-essential servers – a practice known as the ‘lights off’ policy. This not only reduces operational costs but also curbs unnecessary carbon emissions. Sudheer Prabhu emphasizes: “Our commitment to energy efficiency drives every decision we make.”
Electronic Waste Sustainability
Cim Finance promotes sustainability by reselling old desktops and devices to employees after securely wiping corporate data, encouraging reuse and extending the life of electronic equipment. Sudheer avers: “Our responsibility goes beyond profit – it’s about making a positive impact.” Their sustainability efforts extend beyond the company through a program that donates decommissioned devices to needy NGOs, supports community organizations, and prevents e-waste.
Engaging Employees
The company actively educates employees about energy conservation and efficiency, emphasizing the importance of powering down unused workstations during off hours to foster responsible energy usage. Sudheer encourages: “Every small action matters – collectively, we create a greener workplace.” The company optimizes digital practices by using shared folders for file storage to reduce data redundancy and by training employees to compress documents before email transmission. Also, the company promotes using chat platforms like Teams and Zoom.
Tech Partners
One of Cim Finance’s key partners is DocuSign. The company has revolutionized its agreement processes by adopting this digital contract-signing platform. The shift from traditional paper-based contracts to electronic signatures has yielded substantial benefits as DocuSign has significantly curtailed the need for printing, aligning perfectly with the company’s eco-friendly objectives.
Moreover, digital signatures ensure streamlined, secure, and efficient contract execution. In addition, the company has implemented SMS-based receipt systems, further reducing reliance on printed materials. By sending receipts via SMS, they save paper and enhance customer convenience. During 2022-2023, 80% of the 222,148 contracts generated were paperless and delivered digitally.
The company’s mobile app MoFinans is pivotal in the company’s digital transformation and sustainability efforts. Through MoFinans, customers can apply for loans seamlessly, make payments using the Instant Payment System, and receive digital receipts, eliminating the need for physical documentation.
Sudheer emphasizes: “Our tech partnerships drive our green agenda, making sustainability a reality.”
Awards & Certifications
Cim Finance proudly secured the top spot in the non-banking category at the inaugural Environmental Awards 2023, held on World Environment Day at the Caudan Arts Center on June 5, 2023. These prestigious awards recognize organizations championing environmental transformation and carbon footprint reduction, underscoring the company’s unwavering commitment to sustainable practices.
The company has also actively pursued LEED certification for their head office, which is already pre-LEED certified. Additional steps include introducing a fleet of hybrid vehicles to promote eco-friendly commuting, installing solar PV charging stations at the head office to contribute to renewable energy adoption, and implementing robust waste management protocols that engage employees in recycling and waste sorting initiatives.
In 2021, the company launched the ‘Green Lease offer’ leading to the first green bond in Mauritius in 2022. In 2023, it achieved another milestone by listing green bonds on the Stock Exchange of Mauritius, aligning capital with sustainability goals.
Conclusion
Cim Finance has made remarkable progress in sustainability within its IT and business operations. By implementing energy-efficient practices, promoting electronic waste management, and engaging employees in green IT initiatives, they set a high standard for environmental responsibility in the financial sector.
Read more:
A generalist who specialized each time
