Midland Microfin, a forward-thinking financial services company, has significantly improved energy efficiency, especially within its IT infrastructure. Over the last 2 years, the organization has implemented various innovative measures to reduce its environmental impact and promote sustainability.
Energy Efficiency Measures
Midland has implemented a comprehensive set of strategies to enhance energy efficiency across its operations. Its data center optimization efforts included integrating energy-efficient cooling systems and LED lighting, resulting in substantial reductions in energy consumption. Migrating a significant workload to the AWS Cloud led to approximately 20% energy savings compared to traditional on-premises hosting. Concurrently, the company consolidated workloads onto fewer physical machines through server virtualization, significantly decreasing power usage and enhancing overall energy efficiency.
“In our pursuit of energy efficiency, we take a holistic approach that spans our data centers, hardware choices, and digital practices,” emphasizes Gagandeep Sharma, Midland Microfin’s CTO. “By implementing these initiatives, we’re not only reducing costs but also contributing to a greener future.”
Furthermore, the company has made significant strides in adopting energy-efficient hardware, ensuring that laptops and desktops adhere to rigorous Energy Star certification standards. This initiative included replacing outdated equipment with modern alternatives such as solid-state drives (SSDs), which markedly reduced power consumption.
In a proactive move towards sustainability, the company purchased approximately 400 energy-efficient laptops last year alone. Additionally, their transition from paper-based processes to electronic documentation and adoption of cloud storage solutions have not only optimized storage space but also minimized environmental impact by reducing paper waste.
Renewable Energy Journey
Midland Microfin has made remarkable strides in accessing renewable energy for its IT operations. Over the last 2 years, the organization has implemented forward-thinking measures to reduce its environmental impact and promote a greener future.
Solar inverters have been installed across its network of approximately 50 branches, harnessing sunlight energy to reduce reliance on fossil fuels and minimize carbon emissions. The company also actively invests in Renewable Energy Credits (RECs), which help offset its carbon footprint by supporting renewable energy projects elsewhere. This commitment contributes significantly to annual carbon emission reductions, which are certified by the MEC (Midland Environmental Certification).
Responsible E-Waste Management
Midland Microfin has established robust e-waste recycling programs in collaboration with certified recyclers, such as K.J. Recycler, to manage obsolete IT equipment responsibly. This strategic partnership ensures that all devices, including computers, servers, and peripherals, undergo environmentally conscious disposal processes.
The company’s recycling programs prioritize 3 essential approaches: proper disposal, recycling, and repurposing. Devices are disposed of environmentally friendly, preventing hazardous materials from entering landfills. Components are carefully extracted and recycled, contributing to resource conservation and minimizing environmental impact. Functional parts are also repurposed whenever feasible, extending the equipment lifecycle and promoting sustainable practices within the organization.
Devices processed by recyclers include 81 laptops, 28 desktops, 30Printers, 4 scanners, 26 keyboards, 54 wired mice and 56 laptop chargers.
The company has initiated donation efforts to extend the functional but outdated equipment lifecycle by providing it to educational institutions and non-profit organizations. This initiative aims to reduce overall waste and promote sustainability by ensuring that devices like tablets find new homes where they can continue to be useful.
Gagandeep Sharma emphasizes the importance of these donation initiatives, stating: “By extending the life of these devices, we reduce overall waste and promote sustainability.” To date, the company has donated 70 tablets, contributing to educational and charitable causes while aligning with their commitment to responsible corporate citizenship.
Fostering a Green IT Culture
At Midland Microfin, regular training sessions are conducted to educate employees on sustainable IT practices. These sessions cover essential topics such as energy-saving strategies empowering staff to reduce energy consumption through practical adjustments in their daily routines. The importance of responsible e-waste disposal is emphasized, guiding employees on environmentally friendly methods for discarding outdated electronic equipment, including recycling options.
Adopting paperless workflows is also encouraged to minimize waste and conserve resources across the organization. Employees who embrace paperless practices and digital communication are acknowledged and rewarded for their contributions. The company encourages energy-saving behaviors like powering down unnecessary devices, which are tracked to support overall efficiency goals.
Employees participating in responsible e-waste disposal through recycling or donations are also recognized, underscoring their dedication to sustainable practices.
Tech Partners
“As part of our commitment to sustainability, we’ve collaborated with several tech partners who actively contribute to our green initiatives,” emphasizes Gagandeep.
Lenovo has significantly contributed to Midland Microfin’s sustainability efforts by providing energy-efficient laptops. These laptops enhance productivity and reduce energy consumption, aligning perfectly with the company’s green IT goals. Leegality has revolutionized document handling by offering e-sign services. Clients can now sign documents electronically, eliminating the need for physical copies. This streamlined process enhances efficiency, minimizes waste, and supports the company’s green strategy.
D.light has contributed to the organization’s sustainability by installing solar inverters in its branches. The company reduces its reliance on conventional power sources by harnessing renewable solar energy, contributing to a cleaner environment and a more sustainable future. K J Recyclers ensures responsible e-waste management by processing discarded electronics according to the highest recycling standards. This prevents harmful materials from ending up in landfills, closing the loop and promoting resource conservation.
Twinline Business Solution digitizes lending by reducing reliance on traditional paper-based practices. By minimizing paper usage, this initiative supports the company’s green vision and helps create a more sustainable lending ecosystem.
Green Milestone Reports
Midland Microfin produces comprehensive sustainability reports that meticulously detail its efforts in energy conservation, e-waste management, and digitalization initiatives. These reports quantify environmental impacts such as greenhouse gas emissions and track progress towards renewable energy goals. They are crucial in promoting transparency and ensuring accountability as they are shared with senior management and stakeholders.
The Green IT Impact Assessment report also highlights the organization’s achievements and challenges in implementing sustainable practices. It provides insights into energy-saving measures, effective e-waste disposal strategies, and advancements in digital processes. This assessment outlines improvement strategies and maintains the IT department’s accountability for meeting sustainability objectives.
Moreover, Midland Microfin’s ESG (Environmental, Sustainability, and Governance) reports set specific targets across the IT department’s environmental, social, and governance dimensions. These reports enable rigorous progress tracking and facilitate timely corrective actions to enhance overall sustainability performance.
Acknowledgements & Accolades
Midland Microfin received the Social Impact Certificate at the d.light Impact Summit 2023, recognizing its positive impact on social and environmental well-being. This certificate underscores the organization’s dedication to integrating green practices into its IT operations.
Additionally, the company was honoured as the Best Tech-Savvy Microfinance of The Year at the 16th NBFC & Fintech Conclave. This prestigious award celebrates the organization’s pioneering use of technology within the microfinance sector.
Gagandeep concludes: “These accolades motivate us to continue our journey toward a greener, more responsible future.”
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