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

97 MAHINDRA & MAHINDRA LTD. Integrated Annual Report 2021-22 SECTION 134(3)(m) OF THE COMPANIES ACT, 2013 READ WITH RULE 8(3) OF THE COMPANIES (ACCOUNTS) RULES, 2014 IS FORMING PART OF THE BOARD´S REPORT FOR THE FINANCIAL YEAR 2021-22 (A) Conservation of Energy Your Company is committed to sustainable business practices by contributing to environment protection and considers energy conservation as one of the strong pillars of preserving natural resources. This also helps the Company in reducing carbon footprint across all its operations and improve the bottom-line under its ‘Mission Sustainability’. Your Company is the first Indian signatory to EP100 (Energy Productivity 100%) by 2030 with base year 2009, a program promoted by ‘Climate Group’. Further, your Company has committed to becoming Carbon Neutral by 2040. Your Company is also committed for Science Based Target (SBT) to De-carbonize its growth and thus contributing to keep global temperature rise well below 2 degrees Celsius as per Paris Accord 2015. Your Company has a robust roadmap for achieving targets for improving energy efficiency and adoption of renewable energy. Your Company continues to invest in various energy efficiency programs abiding by its commitment towards internal carbon price of USD 10 per ton of carbon emitted. Your Company has taken various initiatives as listed below, for energy conservation and preserving natural resources: • Programs for improving energy efficiency and energy productivity across all operations. • Thrust on increasing share of renewable energy. • Adoption of Green energy for manufacturing operations. • Converting existing Facilities into Green buildings and factories. • Rain water harvesting, reduce usage, reuse and recycle water. • Thrust on zero waste to land fill and promote circular economy. CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNINGS AND OUTGO • Eco efficiency in supply chain. • Creating awareness and promote sustainability amongst stakeholders. (i) The steps taken or impact on conservation of energy • Installation of energy efficient EC blower for paint shop and HVAC applications. • Replacement of conventional air circulators with BLDC technology air circulators. • Improving energy efficiency through VFD’s, interlockings, automations and digitisation. • Installation of demand side controller for air compressor system. • Replacement of old conventional lights with LED’s. • Replacement of old motors with premium efficiency IE3 motors. • Installation of Energy efficient inverter split AC’s. • Installation of auto shut off valves for compressed air. • Waste heat recovery from air compressors and paint shops. • Installation of IT guns for spot welding, etc. Y our Company believes in employee engagement for driving positive change towards this goal and has taken multiple initiatives. Select few initiatives are listed below: • National energy conservationweek celebration at all plants during 14 th to 20 th December. • Sustainability month celebration at all plants (June month). • Organizing annual Sustainability summit for employees. • Capability building programs on Energy and Sustainability for employees and Supplier partners. ANNEXURE VII