Mahindra
& Mahindra was the first company in the world to commit to doubling its
energy productivity by 2030, signing on to The Climate Group’s EP100 programme.
Using energy efficient lighting, efficient heating, ventilation, and air
conditioning (HVAC), motors and heat recovery projects, M&M has doubled the
energy productivity of its automotive business almost 12 years ahead of
schedule.
Of
the achievement Anirban Ghosh, Chief Sustainability Officer, Mahindra Group
added, “Through the work we are doing on carbon neutrality we are not only
responding on the climate change challenge but our work also results in
improved efficiency, innovation and more importantly delivers on the business
case for sustainability.”
Mahindra
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 based on 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 over 10 years of experience in creating carbon sinks which has
helped it to achieve this goal. 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
carbon neutrality.
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 toward carbon neutrality.
Source: Mahindra & Mahindra