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

Mahindra becomes part of WEF's CEO Alliance To scale up the efforts in the race towards Net-Zero, Mahindra Group has joined the World Economic Forum's Alliance of CEO Climate Action Leaders India. The Alliance will serve as a high- level platform to support business leaders in planning and implementing plans and programmes to achieve climate targets. Mahindra conserves, protects and improves Natural Capital through the 3Cs approach: Conservation of Natural Resources Continuous Improvement towards Rejuvenation Comprehensive Disclosures Mahindra has been disclosing informa- tion to all stakeholders in a transparent manner for over 14 years through its sustainability reports that are based on the GRI framework. We have been publishing Annual Integrated Report based on International Integrated Reporting Council (IIRC) Framework since the last four years. A cohesive framework, well-structured processes and focused interventions are the foundation of our environmental management approach. We have launched a number of key initiatives towards increasing the share of alternative energy sources in our operations, decarbonising the industry and rejuvenating the planet. KEY MAT ER I AL I TY I S SUE S Apart from being an important tool to meet the expectations of the stake- holders, materiality helps shape our sustainability strategy, analyse risk factors and upgrade the business processes for future prospects. The materiality assessment is conducted every 3 years when we reset our roadmap. Internal and external stakeholders are identified and engaged with during the materiality assessment. Based on these interactions and benchmarking with industry peers, the material issues are identified. All stakeholders including top management, employees, suppliers, dealers, customers, investors, and community are engaged in this exercise. After mapping, prioritisation, prepara- tion and validation, the materiality matrix is finalised. The key material environmental issues are: Carbon Emission Water Security Waste to Wealth These core issues were given due importance while formulating the sustainability strategy. Some of the highlights of our sustainability initiatives are mentioned in this section. REDUCTION OF GREENHOUSE GASES (GHG) Every ton of reduction in GHG takes us closer to our target of becoming carbon neutral. The reduction in GHG also brings down our carbon footprint, improves employee and public safety, and reduces pollution. Mahindra has been consistently working to reduce GHG by increasing energy efficiency and reducing dependence on non-renewable sources of energy. MAHINDRA & MAHINDRA LTD. Integrated Annual Report 2021-22 31