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Mahindra & Mahindra Committed to Becoming a Carbon Neutral Company by 2040

by Mohammed Burman | 16/09/2018

Mahindra & Mahindra (M&M) announced that it would become carbon neutral by 2040 at the Global Climate Action Summit in California.

The company also confirmed that it would make every endeavour to use energy more efficiently and as much renewable power as possible to reach this target. Carbon sinks would be used to treat residual emissions. There has been no company in the world committing to increasing energy productivity by twice when signing the Climate Group’s program EP100 like Mahindra. Moreover, the company was also the first in India to confirm its domestic Carbon Price of $10 per ton of carbon emitted to invest in funds required for the carbon neutrality target.

Commenting on the plan to reach the target, Anand Mahindra, Chairman, Mahindra Group stated that:

“We are doing our part in the global fight against climate change with this ambitious new target. Mahindra will leverage the latest technological advances and its recently announced Carbon Price to work towards being carbon neutral by 2040.”

Anand Mahindra, Chairman, Mahindra Group commented on the target of the company

Thanks to the most cutting-edge technologies like efficient motors, ventilation, lighting, heating and cooling system, motors and heat recovery projects, Mahindra & Mahindra has raised the energy productivity by twice. With over-ten-year experience in carbon sinks creation, the company expects to address the leftover emissions in a way which complies with the most recent policies.

M&M will cooperate with leading partners such as Environmental Defense Fund (EDF); it has also signed the Science based targets initiative which offers companies a clear plan to reduce carbon discharge to conform to Paris Agreement’s objective of restricting global warming to under 2°C. All of these commitments contribute to the company’s success in achieving its target of becoming carbon neutral by 2040.