Carbon Neutral by 2040: The Mahindra Commitment!
To transform a 150-company, multi-sector group into carbon neutrality by 2040 is a massive commitment, but the Mahindra Group is delivering on this and several other climate changes and green initiatives. Also, the Group’s green revenue portfolio is worth half a billion dollars and includes electric vehicles, automotive recycling, solar energy, waste-to-energy and biogas, green buildings, and micro-irrigation.
Here are glimpses of exciting things happening in our companies:
Energy Productivity:
EP100 by the Climate Group indicates a commitment to double Energy Productivity by 2030, i.e, doubling output while using the same level of energy.
M&M is the first company in the world to join EP 100 as a commitment to doubling energy productivity. It has deployed 100 energy efficiency projects within the auto group alone. For example, the auto plant at Chakan has adopted the latest cooling technologies.
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Renewable Energy:
RE100 by the Climate Group involves a commitment to go 100% renewable energy. Mahindra Group’s share of renewables more than doubled in 2018 alone. Mahindra Holidays & Resorts is among the companies that has committed to switching to 100% renewables.
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Carbon Pricing:
Under Article 6 of the Paris Agreement, businesses need to determine the value of investments/initiatives to reduce their carbon footprint. The Mahindra Group has adopted this model.
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Tree Plantation:
Planting trees is a great way to build natural carbon sinks and reduce air pollution. Under Mahindra’s Hariyali project, all group companies limit emissions by increasing the green cover.
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Electric mobility:
EV100 by the Climate Group involves a commitment to upscale use of electric vehicles. Mahindra Electric covers two electric automotive businesses - Mahindra Reva and GenZe.
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Water Productivity:
Remarkably, the Mahindra Group is water positive– we preserve more water than we use! And the conserved water is a resource for the community.
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Zero Waste to Landfill:
Mahindra plants are working to reduce solid waste and send zero waste to landfills. Already, 13 plants within M&M have been certified as ZWL (Zero Waste to Landfill) by Intertek, a Total Quality Assurance provider.
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Science Based Targets:
This global initiative by the Science Based Targets organisation is about the future-proofing business by setting greenhouse gas emission reduction targets in line with climate science.
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Green Revenue Portfolio:
Mahindra has built up several businesses with green products and services. The ~$500 million Green Portfolio includes initiatives for waste-to-energy, renewable energy, auto recycling, green buildings, micro-irrigation and electric vehicles.
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The Mahindra Group’s commitment to sustainability is encapsulated in a simple mantra: “Building enduring businesses by rejuvenating the environment and enabling stakeholders to Rise.” And that’s the underlying commitment to all our climate change and environmental initiatives.
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