M&M To Become Carbon Neutral By 2040

In Clean Talk, Environment, News, Renewable Energy

Mahindra & Mahindra (M&M), India’s leading manufacturer of utility vehicles and part of the $20.7 billion Mahindra Group has pledged 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.

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.

The company 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 of limiting global warming to well below two degrees Celsius above pre-industrial levels.

Science-based targets are a way of ensuring that ambition is stepped up and action is aligned to the target set by the 2015 Paris Climate Change Agreement.

Using energy efficient lighting, efficient heating, ventilation, and air conditioning, motors and heat recovery projects, M&M has doubled the energy productivity of the automotive business almost 12 years ahead of schedule, the company said.

The company was also the first Indian company to announce its internal carbon price of $10 per ton of carbon emitted to fund investments required to pursue the path of carbon neutrality. It has more than 10 years of experience in creating carbon sinks.

All these commitments are helping the company on its path to go carbon neutral.




Reference- M&M PR, Outlook, IANS, EDF website

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