Mahindra Group, one of the largest businesses in India, has announced new commitments in an effort to reduce its emissions.
Chief Sustainability Officer Anirban Ghosh confirmed 11 more Mahindra companies will set Science Based Targets (SBT) – following commitments made by Tech Mahindra and Mahindra Sanyo Special Steel Private Limited – at the Global Climate Action Summit in San Francisco yesterday.
The SBT initiative helps companies determine how much emissions need to be reduced to prevent the worst impacts of climate change and keep global temperature increase to below 2°C in line with the Paris Agreement.
The latest firms joining the initiative include Mahindra & Mahindra, Mahindra World City Jaipur and Mahindra Holidays & Resorts India.
Anirban Ghosh, Chief Sustainability Officer at Mahindra Group said: “This gives us all a clear signal that using science-based targets are becoming mainstream business practice – because more and more companies, like ours, are recognising that the transition to a low carbon economy is a huge business opportunity as well as the only way to secure sustainable prosperity for all.
“At Mahindra, our businesses are demonstrating that decarbonisation is possible while boosting employment, investment and innovation. We are already generating revenue of $400 million [£294m] from our green businesses. In the last five years, we saved enough energy to supply electricity to 14,525 Indian homes for a year.”