The chairman of Mahindra Group, Anand Mahindra stated at the Global Climate Action Summit at San Francisco that his company M&M is planning to go carbon neutral by 2040.
He said his company will focus on energy efficiency and the use of renewable power to achieve this target. He said that the residual emissions will be addressed through carbon sinks.
The company will be working on its carbon neutrality commitment with international non-profit organisation Environmental Defense Fund (EDF), which works with leading companies to raise the bar for corporate sustainability leadership.
M&M was the first company in the world to commit to doubling energy productivity by signing on to The Climate Group’s program EP100. Using energy efficient lighting, efficient heating, ventilation, and air conditioning (HVAC), motors and heat recovery projects, M&M has doubled the energy productivity of the automotive business almost 12 years ahead of schedule.
M&M is also a signatory of the Science Based Targets initiative, which provides companies with a clear pathway for reducing emissions in line with the Paris Agreement’s goal for limiting global warming to well below 2 degrees C above pre-industrial levels. All these commitments are helping the company on its path to go carbon neutral.