Mahindra plans to become carbon neutral company by 2040
MUMBAI: Mahindra & Mahindra (M&M), India’s leading manufacturer of utility vehicles and part of the $20.7 billion Mahindra Group, announced its commitment to become a carbon neutral company by 2040.
For this, the company will be working with Environmental Defense Fund (EDF) to meet its carbon neutrality commitment.
M&M will focus on energy efficiency and the use of renewable power to achieve this target. Residual emissions will be addressed through carbon sinks, the company said.
“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,” Mahindra Group Chairman Anand Mahindra said in San Francisco, US.
He is in the California city to co-chair the Global Climate Action Summit (GCAS) that aims to encourage all stakeholders to raise their ambition with many new possibilities emerging out of the discussions.
Mahindra was the first company in the world to commit to doubling energy productivity by signing on to The Climate Group’s programme EP100.
“We have already seen remarkable value in reducing emissions through the EP100 program which aims to double energy productivity in our main businesses - auto, farm equipment and holiday resorts,” Mahindra said.