Mahindra & Mahindra to go carbon neutral by 2040
Date: 14 Sep 2018
Mahindra & Mahindra
(M&M) announced its commitment to become a carbon neutral company by 2040.
Mahindra will focus on energy efficiency and the use of renewable power to
achieve this target. Residual emissions will be addressed through carbon sinks.
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
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.
The company has more than 10
years of 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. M&M will be working on its carbon
neutrality commitment with the international non-profit organization
Environmental Defense Fund (EDF), which works with leading companies to raise
the bar for corporate sustainability leadership. It will continue to work with
EDF and other leading partners as it implements actions towards achieving
M&M is also a signatory of
the Science based targets initiative which provides companies with a clear
pathway for reducing emissions in line with the Paris Agreement’s goal of
limiting global warming to well below 2°C above pre-industrial levels. All
these commitments are helping the company on its path to go carbon neutral.
Source: Mahindra & Mahindra