Anand Mahindra, Chairman, Mahindra Group said, “We are doing our part in the global fight against climate change with this ambitious new target. Mahindra will leverage the latest technological advances and its recently announced Carbon Price to work towards being carbon neutral by 2040.”
M&M was the first company in the world to commit to doubling energy productivity by signing on to The Climate Group’s program EP100. Using energy efficient lighting, efficient heating, ventilation, and air conditioning (HVAC), motors and heat recovery projects, Mahindra & Mahindra has doubled the energy productivity of the automotive business almost 12 years ahead of schedule. The farm equipment business is also ahead of schedule in achieving its goal and is more than half-way there.
The company was also the first Indian company to announce its internal Carbon Price of $10 per ton of carbon emitted to fund investments required to pursue the path of carbon neutrality. The price was carefully arrived at on the basis of international benchmarks and an assessment of what was required to achieve the goals set by the business on energy efficiency and renewable energy. It has over 10 years experience in creating carbon sinks. It looks forward to using this experience to deal with residual emissions in a manner that is world class and follows the best established protocols.
India plays leading role in lowering emissions
India is already playing a leading role in lowering global emissions. The efforts in mainstreaming renewable energy and energy efficiency are remarkable. These, and its ambition in the electric mobility space, are admired across the globe, says Mahindra Group Executive Chairman Anand Mahindra. For him, climate change needs to be addressed and he has called on businesses worldwide to commit to science-based targets, which aimed to reduce emissions as underpinned by the historic 2015 Paris Climate Change Agreement.