MAHINDRA & MAHINDRA LTD. Board’s Report 121 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 FY25 (A) Conservation of Energy Your Company is dedicated to sustainable business practices, particularly in the realm of environmental protection, and prioritizes energy conservation as a key element in preserving natural resources. This commitment also aids in reducing the carbon footprint across all operations and enhances the Company’s financial performance under its ‘Mission Sustainability.’ As the first Indian signatory of EP100 (Energy Productivity 100%) with a target of achieving this by 2030 using 2009 as the baseline year, a program championed by the Climate Group successfully reached this goal well ahead of the target date. Your Company is also committed to achieving carbon neutrality by 2040. In addition, your Company has embraced Science Based Targets (SBT) to de-carbonize its growth and contribute to limiting global temperature increases to well below 2 degrees Celsius, as outlined in the Paris Accord of 2015. Your Company has developed a comprehensive roadmap to enhance energy efficiency and incorporate renewable energy sources. It continues to invest significantly in various energy efficiency programs, aligning with its internal carbon pricing strategy of USD 10 per ton of carbon emissions. The following initiatives have been implemented for energy conservation: ● Programs aimed at enhancing energy efficiency and increasing energy productivity across all operations. ● A focus on boosting the share of renewable energy. ● Adoption of green energy sources for manufacturing processes. ● Implementing rainwater harvesting techniques, along with reducing, reusing, and recycling water. ● A commitment to achieving zero waste to landfill and fostering a circular economy. CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNINGS AND OUTGO ● Promoting eco-efficiency within the supply chain. ● Raising awareness and promoting sustainability among stakeholders. i. The steps taken or impact on conservation of energy ● Replacing traditional air circulators with BLDC technology air circulators. ● Enhancing energy efficiency through variable frequency drives (VFDs), interlockings, automation, and digitization. ● Upgrading old motors to premium efficiency IE3 and IE5 motors. ● Installing automatic shut-off valves and IFC (intelligent floe controller) for compressed air systems. ● Recovering waste heat from air compressors and paint shops. ● Utilizing smart cooling technology to improve chiller performance and longevity. Your Company values employee engagement in driving positive change toward sustainability and has implemented several initiatives, including: ● Celebrating National Energy Conservation Week at all Plants from 14th to 20th December with multiple programmes like energy literacy training capabilitybuilding programs and energy saving project competitions. ● Sustainability Month celebration at all Plants in June. ● Organizing an annual Sustainability Summit for employees. ● Conducting capability-building programs on Energy and Sustainability for employees and supplier partners. ● Hosting competitions for employees such as ECO Warrior, poster and slogan contests, suggestions, quizzes and best energy efficient projects. ANNEXURE VII
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