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Three Mahindra Group companies recognized in the Leadership Band of CDP sustainability disclosures
Mumbai, December 13th, 2021: The Mahindra Group companies Mahindra & Mahindra(M&M), Tech Mahindra and Mahindra Lifespaces have been included in the Leadership Band for corporate sustainability by global environmental non-profit CDP. M&M and Tech Mahindra are the only Indian companies to have secured places on the “A List” of the Leadership Band for both Climate and Water related disclosures while Mahindra Lifespaces is the only real estate company in India to feature in the “A- List” of the Leadership Band for climate related disclosures.
This year, 12,000 businesses worldwide made disclosures using CDP’s questionnaires. CDP uses a detailed methodology to assess the disclosures and rates organizations from A to D- based on comprehensiveness of disclosure, awareness and management of environmental risks, demonstration of best practices associated with environmental leadership, such as setting ambitious and meaningful targets. CDP’s annual environmental disclosure and scoring process is widely recognized as the gold standard of corporate environmental transparency. In 2021, over 590 investors with over US$110 trillion in assets and 200 major purchasers with US$5.5 trillion in procurement spend requested companies to disclose data on environmental impacts, risks and opportunities through CDP’s platform.
On this recognition, Dr. Anish Shah, Managing Director & CEO, M&M Ltd, says, “Three Mahindra Group companies being featured in the Leadership Band of CDP is a testimony of the depth of our effort to deliver on climate goals. For more than a decade we have been reporting on our sustainability work and have been amongst the first to commit to doubling energy productivity, using an internal carbon price, getting to 100% renewable energy, setting Science Based Targets and becoming carbon neutral. We are on a continuous improvement journey towards the greater good.”
This year, Mahindra Group has articulated ten very specific, bold, measurable ESG commitments. These are on attaining the Gold standard in Governance, which include - Compliance and disclosures; Being Water positive at Group level; Using carbon pricing emphasis for internal busines decisions; Targets on use of renewable energy and adopting energy efficiency processes; Being a carbon neutral group by 2040 and on its locations being certified zero waste to landfill. Additionally, Mahindra group has made commitments on its CSR programs - Project Hariyali- its tree plantation program; Nanhi Kali - focussed on educating the girl child and on the women empowerment programs.
Speaking on the occasion, Paul Simpson, CEO of CDP, said: “Many congratulations to all the companies on this year’s A List. Taking the lead on environmental transparency and action is one of the most important steps businesses can make, even more so in the year of COP26 and the IPCC’s Sixth Assessment Report. The scale of the risk to businesses from climate change, water insecurity and deforestation can no longer be ignored, and we know the opportunities of action far outweigh the risks of inaction. Leadership from the private sector is essential for securing global ambitions for a net-zero, nature positive and equitable world. Our A List celebrates those companies who are preparing themselves to excel in the economy of the future by taking action today.”
Note to editors
The full list of companies that made this year’s CDP A List is available here, along with other publicly available company scores: https://www.cdp.net/en/companies/companies-scores. The full methodology and criteria for the A List is available on CDP’s website at: https://www.cdp.net/en/companies/companies-scores
Founded in 1945, the Mahindra Group is one of the largest and most admired multinational federation of companies with 260,000 employees in over 100 countries. It enjoys a leadership positionin farm equipment, utility vehicles, information technology and financial services in India and is the world’s largest tractor company by volume. It has a strong presence in renewable energy, agriculture, logistics, hospitality and real estate.
The Mahindra Group has a clear focus on leading ESG globally, enabling rural prosperity and enhancing urban living, with a goal to drive positive change in the lives of communities and stakeholders to enable them to Rise.
CDP is a global non-profit that runs the world’s environmental disclosure system for companies, cities, states and regions. Founded in 2000 and working with more than 590 investors with over $110 trillion in assets, CDP pioneered using capital markets and corporate procurement to motivate companies to disclose their environmental impacts, and to reduce greenhouse gas emissions, safeguard water resources and protect forests. Over 14,000 organizations around the world disclosed data through CDP in 2021, including more than 13,000 companies worth over 64% of global market capitalization, and over 1,100 cities, states and regions. Fully TCFD aligned, CDP holds the largest environmental database in the world, and CDP scores are widely used to drive investment and procurement decisions towards a zero carbon, sustainable and resilient economy. CDP is a founding member of the Science Based Targets initiative, We Mean Business Coalition, The Investor Agenda and the Net Zero Asset Managers initiative. Visit cdp.net or follow us @CDP to find out more.