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

KEY I N I T I AT I VE S TO REDUCE GHG EMI S S I ONS Electric Vehicles The Mahindra Group pioneered the development of Electric Vehicles (EVs) in India and continues to lead the develop- ment and implementation of electric mobility. In EVs, we are focusing on last- mile mobility (Treo & Treo Zor), convert- ing ICE to EV (e.g. upcoming eXUV300) and Born Electric Platform. We have partnered with major e-commerce players such as Flipkart and Amazon, and fleet logistics Companies such as Mahindra Logistics, Terrago Logistics and Magenta, for expansion of their carbon-free fleet delivery vehicles. First Indian manufacturer to surpass Cleaner and Greener Process To reduce environmental impacts and mitigate the rising costs of power, we are adopting cleaner and greener processes, and increasing energy & resource efficiencies. Transitioning to renewable energy will also fast-track our race towards carbon neutrality. 400 million electric kilometres. Green Portfolio Mahindra Group has built several businesses with green products and services. The Green Portfolio includes initiatives such as waste-to-energy, renewable energy, auto recycling, green buildings, micro-irrigation and electric vehicles. Carbon Pricing Mahindra has announced its internal carbon pricing to create funds to facilitate the deployment of low carbon projects, enable informed decision- making by management on investments into low carbon projects, achieve emission reduction targets, and align Company Science-based Targets (SBT) As a Company operating in the manufacturing and agricultural sectors, Mahindra's operations are highly vulnerable to climate change and unpredictable weather events necessi- tating resilience planning. Mahindra is highly dependent on seasonal monsoon and is impacted by availability of energy, rising fuel cost, restricted access to raw material and changing consumer preferences. Ÿ In line with the Science-Based Target Initiative (SBTI) - Mahindra & Mahindra Ltd. has committed to reducing Scope 1 and Scope 2 GHG emissions by 47% per equivalent product unit by 2033 from a 2018 base year. Ÿ Mahindra & Mahindra Ltd. has also committed to reducing Scope 3 GHG emissions by 30% per sold product unit by 2033 from a 2018 base year. operations and investments with pathways that can successfully facilitate the transition to a low carbon economy. The Company has implemented a carbon price of USD 10 per ton of CO emitted, 2 and invested in innovative technologies and processes. At Mahindra, SBTi targets are approved for 18 Group Companies till F22. 32 COMPANY OVERVIEW REIGNITED VALUE CREATION OUTPERFORM FINANCIALLY FUTURE-READY ESG LEADERSHIP GLOBALLY INPUT-OUTPUT MODEL CORPORATE INFORMATION STATUTORY REPORTS FINANCIAL STATEMENTS