M&M’s aim is to reduce its carbon emissions by focusing on the use of renewable power
Mahindra & Mahindra (M&M), announced its commitment to become carbon neutral by 2040. The company, which is India’s one of the leading manufacturers of utility vehicles, will be partnering with the Environmental Defense Fund (EDF) to achieve this goal. M&M’s emphasis will be mainly on energy efficiency and use of renewable power.
Anand Mahindra, Chairman Mahindra Group, said that the company is doing its bit in the fight against climate change with its new commitment to becoming carbon neutral. He added that M&M will be deploying its latest technology to work towards its goal by the estimated timeframe.
Richie Ahuja, senior director for Global Climate at EDF has applauded M&M for its initiative. He said that the company had sent out a message that investing in the climate-smart growth was good for business. He added that M&M’s commitment can result to innovations in this sector.
The company is looking forward to using its ten years’ experience in the creation of carbon sinks to address the residual emissions. M&M, which is a part of the $ 20.7 billion Mahindra group, has the vision to reduce emissions keeping in line with the Paris Agreement’s aim to curb global warming to below 2°C above pre-industrial levels.
The buzz is that the company has doubled its energy productivity in the automotive sector by using energy efficient lighting, heating, ventilation and air conditioning motors and heat recovery projects 12 years ahead of schedule. M&M also has, reportedly, become the first Indian company to release its internal carbon price of $10 per ton of carbon emitted to fund investments to achieving its goal of carbon neutrality.
Energy efficient appliances
The Mahindra group’s chairman made this announcement in the Global Climate Action Summit. He also viewed that the initiative has a future of its own. He visions that making the homes and factories energy efficient can be done by the manufacture of billions of energy efficient appliances for lighting, heating, cooking, cooling and washing for every home. The leader has also encouraged the stakeholders to be a part of this possibility.