Anand Mahindra, Chairman, Mahindra Group, adds his voice to the UN Global Compact by urging businesses to set more ambitious climate targets to limit global temperature rise to 1.5°C. In the run-up to the UN Secretary-General’s Climate Action Summit to be held on September 23, 2019, in New York, a broad coalition of businesses, civil society, and UN leaders have issued a call to action for private companies to make their critical contribution to reducing greenhouse gas emissions.
The call-to-action in the form of an open letter asks companies to set verifiable science-based targets through the Science-Based Targets initiative (SBTi), that are a set of goals to provide businesses with a clear route to reduce greenhouse gas emissions.
Anand Mahindra, Chairman, Mahindra Group, and one of the signatories to the letter, said, “The impact of climate change will affect all of us. The fact that accelerated action has to be taken at scale is very clear, and the possibility of that not happening is of deep concern to me. We do not have the luxury of time and so we are trying to act boldly, and nudge people toward decisive action. The Science-Based Target initiatives are a good way to set a realistic, yet aggressive, trajectory. We have to move from an initiative-led approach to one where we are able to say that we are doing more than our part to be able to make a real difference in the future.”
The economic opportunity presented by taking bold climate action is significant, with evidence suggesting that those companies aligned with a 1.5°C trajectory will be best-placed to thrive as the global economy undergoes a just transition to a net-zero future by 2050.
The Mahindra Group has time and again reinforced that sustainability is the biggest business opportunity of the