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Author : mahindraadmin   Category : ESG   Published : 12/12/2023

Commitment # 1

100% Renewable Electricity by 2030

Net Zero emissions by 2050 is an international goal and a global consensus arrived at the Paris Agreement to contain global warming to 1.5°C above pre-industrial levels. Considering that the energy sector contributes to nearly 75% of global greenhouse gas emissions, renewable electricity assumes great significance in accomplishing Net Zero by 2050. Energy transition is a strategic priority for India as well. India has committed to Net Zero carbon emissions by 2070 and fulfillment of 50% of energy requirements with renewable power by 2030 at the COP 26 held in Glasgow in November 2021.

For the Mahindra group, sustainability lies at the core of its purpose. It has been one of the foremost businesses rising to the climate challenge. Renewable electricity plays a vital role in Mahindra group’s climate strategy and is committed to 100% Renewable Electricity by 2030. The share of renewable electricity to total electricity at a group level stands at 26 % as on FY23. By increasing the share of renewable electricity in the total energy consumption, the group demonstrates its commitment to environmental responsibility and support to the global effort to transition to a low carbon economy.

Some of the notable accomplishments and ongoing initiatives include:

  • Mahindra and Mahindra have commissioned a 60 MWp Captive solar power plant at Parbhani in Marathwada region. Additionally, 1MWp solar power has been installed at the Rudrapur plant. As a result, M&M’s renewable energy share reached 32% in F23 compared to 12% in F22. Another significant accomplishment of the business is XUV-400 the first e-SUV, which is produced using only renewable energy, in a 100% water-positive facility at the company’s facility in Nashik, Maharashtra.
  • Mahindra Lifespaces launched its first Net-Zero Energy Project, Mahindra Eden, Bengaluru. The project is certified by the Indian Green Building Council (IGBC) for ‘Net Zero Energy Buildings’. This marks a major milestone in Mahindra Lifespaces’ sustainability journey and its pledge to build only net-zero projects from 2030 onwards.
  • Tech Mahindra increased Renewable Electricity share from ~2% (with baseline year FY16) to ~22% in FY23.
  • Mahindra Susten is one of the largest renewable power EPC companies in India, and currently has operational portfolio of renewable IPP (Independent Power Producer) of over 1.55 GWp+ across India with presence in 5 states.
  • At Club Mahindra, 11 resorts are platinum-rated and 1 resort Gold rated IGBC certified. Solar power has been commissioned in 25 resorts (currently 19% of total resorts) This is expected to increase to 41% by 2024. Kanha Resort was the first resort in India to run on 100% RE. Madikeri was the first to get Triple “0” rating ( Net Zero on Energy, Water and Waste).Net Zero Energy has been achieved through renewable energy initiatives, passive strategies to reduce energy demand and active energy saving initiatives.
  • This is a commitment that is aligned with UNSDG 7 - Clean and safe energy.

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