>Leading ESG

Mahindra Group continues to lead the way on sustainability

Three Mahindra Group companies — Mahindra & Mahindra Limited. (M&M), Tech Mahindra and Mahindra Lifespaces — have been included in the Leadership Band for corporate sustainability by global environmental non-profit CDP. M&M and Tech Mahindra are the only Indian companies to have secured places on the ‘A List’ of the Leadership Band for both climate and water-related disclosures, while Mahindra Lifespaces is the only real estate company in the country to feature in the ‘A List’ of the Leadership Band for climate-related disclosures.

This year, 12,000 businesses worldwide made disclosures using CDP's questionnaires. CDP uses a detailed methodology to assess the disclosures and rates organisations from A to D based on the comprehensiveness of disclosure, awareness and management of environmental risks, and demonstration of best practices associated with environmental leadership, such as setting ambitious and meaningful targets. CDP's annual environmental disclosure and scoring process are widely recognised as the gold standard of corporate environmental transparency. In 2021, over 590 investors with over US$110 trillion in assets and 200 major purchasers with US$5.5 trillion in procurement spend requested companies to disclose data on environmental impacts, risks and opportunities through CDP's platform.

On this recognition, Dr Anish Shah, Managing Director & CEO, M&M Ltd., says, “Three Mahindra Group companies being featured in the Leadership Band of CDP is a testimony of the depth of our effort to deliver on climate goals. For more than a decade, we have been reporting on our sustainability work. We have been among the first to commit to doubling energy productivity, using an internal carbon price, getting to 100 per cent renewable energy, setting Science-Based Targets and becoming carbon neutral. We are on a continuous improvement journey towards the greater good.

This year, Mahindra Group has articulated 10 very specific, bold, measurable ESG commitments. These are on attaining the gold standard in Governance — compliance and disclosures; being water positive at the Group level; using carbon pricing emphasis for internal business decisions; targets on the use of renewable energy and adopting energy efficiency processes; being a carbon-neutral Group by 2040 and on its locations being certified zero waste to landfill. Additionally, the Mahindra Group has made commitments on its CSR programmes —Project Hariyali (its tree plantation programme) and Nanhi Kali, which is focussed on educating the girl child and women empowerment programmes.

Speaking on the occasion, Paul Simpson, CEO of CDP, said: “Many congratulations to all the companies on this year’s A-List. Taking the lead on environmental transparency and action is one of the most important steps businesses can make, even more so in the year of COP26 and the IPCC’s Sixth Assessment Report. The scale of the risk to businesses from climate change, water insecurity and deforestation can no longer be ignored, and we know the opportunities of action far outweigh the risks of inaction. Leadership from the private sector is essential for securing global ambitions for a net-zero, nature positive and equitable world. Our A-List celebrates those companies who are preparing themselves to excel in the economy of the future by taking action today.”

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