RISE FOR A MORE EQUAL WORLD 55 Our environmental management relies on a cohesive framework and targeted interventions. Initiatives like integration of alternative energy sources, industry decarbonisation, and ecosystem rejuvenation drive our commitment to sustainability. Derived by harmonising stakeholder expectations with operational imperatives, materiality plays a pivotal role in our sustainability strategy. It facilitates thorough risk assessment and process refinement, magnifying our environmental influence on a larger scale. Through engagement with a spectrum of stakeholders - from management to communities, and informed by industry benchmarks, we discern crucial issues. This meticulous process culminates in a comprehensive materiality matrix, reinforcing our dedication to robust environmental performance and stakeholder value. KEY MATERIALITY ISSUES Our key material environmental issues are: Carbon Emission Water Security Waste to Wealth We review and assess our materiality annually to identify new material topics. 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. Every ton of GHG reduction propels us towards our carbon neutrality goal, reducing our carbon footprint, and curbing pollution. Our key initiatives to reduce GHG emissions include: REDUCTION OF GREENHOUSE GASES (GHG) GREEN PORTFOLIO Mahindra Group's Green Portfolio includes businesses, services and initiatives such as renewable energy, auto recycling, green buildings, micro-irrigation and electric vehicles. CARBON PRICING At Mahindra, we recognise the importance of internalising the costs of carbon emissions to incentivise emission reductions and drive the transition towards a low-carbon economy. Our internal carbon pricing mechanism, set at USD 10 per ton of CO emitted, serves as a financial 2 instrument to support investments in low-carbon technologies and processes. It also fosters informed management decisions regarding sustainable investments, thereby ensuring alignment with our long-term environmental goals.
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