MAHINDRA & MAHINDRA LTD. | Integrated Annual Report 2021-22

96 COMPANY OVERVIEW BOARD’S REPORT MANAGEMENT DISCUSSION AND ANALYSIS CORPORATE GOVERNANCE BUSINESS RESPONSIBILITY REPORT STANDALONE ACCOUNTS CONSOLIDATED ACCOUNTS Mahindra Academy Malad, Mumbai The Mahindra Academy was established in June 1970. The school is managed by a Governing Council consisting of members of the Mahindra Education Society. The school caters to educational needs of students coming from economically weaker sections. The school was facing infrastructure issues which needed urgent attention. The key objective of the Impact Assessment is to understand whether the grant provided by Mahindra & Mahindra Limited was utilized for the purpose it was given in Financial Year 2020-21. The key findings are: • The school was facing financial challenges as parents of many students had lost their jobs during the pandemic. • Despite the challenges, the school did not pressurize students to pay the fees and allowed them to continue their education through the online mode adopted due to COVID-19. • The entire grant was utilized towards payment of salaries of the staff and upgradation of physical infrastructure. Mahindra Scholarship for MUWCI Students Mahindra United World College of India (MUWCI) is part of the UWC (United World College), a global education movement aiming to make education a force to unite people, nations and cultures for a sustainable future. The Mahindra Group has been contributing to a need-based Scholarship programme which is given to deserving students admitted to MUWCI. The key objective of the Impact Assessment is to understand the process involved in allocating MUWCI Scholarships and the impact created by this scholarship for the students who got the scholarship in Financial Year 2020-21. The key findings are: • There is a defined and rigorous selection process which is done over a 2-day period. The selection process evaluates ‘out-of-the-box’ thinking, creativity, and personality, along with academic acumen. • The scholarship offered is need-based, and every qualifying student is required to submit financial documentation which undergoes verification. • Getting a partially or fully funded scholarship eases the financial burden on the families who typically are from low/ middle income backgrounds. • MUWCI Scholarships allow students to leverage the UWC network through which they can apply to 164 partner universities and state colleges in the USA for their higher education. Project Hariyali Through this intervention, the Mahindra Group plants more than 1 million trees every year, which contributes to building green cover and protecting the rich biodiversity of the country. Majority of the tress are planted in Araku Valley (Vishakhapatnam, Andhra Pradesh) which besides greening the environment also provided livelihood support to tribal farmers by growing coffee and fruit bearing trees in this region. The key objective of the Impact Assessment was to assess the survival rate, carbon sequestration potential of the sampling planted and impact on farmers in Financial Year 2020-21 in Araku region. The key findings are: • The average survival rate of varied sampling planted during the period stood at 85%. • 1,457.692 tCO2e. emission reduction as C stock from 9,00,257 saplings. • Farmers felt that the organic inputs and soil management techniques increased yield for the crops and improved soil fertility. The soil color had visibly deepened, indicating the presence of higher moisture content. • Plantation of multiple varieties of saplings promoted biodiversity within plots, thereby enhancing the eco-system. • By planting diverse saplings fruits and coffee along with other cash crops, multiple income sources have been created thereby uplifting the farmers’ livelihoods. Reports pertaining to Impact Assessment carried out for the Company’s Project Nanhi Kali, Mahindra Pride Programme, Mahindra Academy-Malad, Mahindra Scholarship for MUWCI Students and Project Hariyali, are available on the Company’s website at the link:- https://www.mahindra.com/resources/FY22/AnnualReport.zip