Company Profile: Mahindra Group
We Mean Business coalition
The Mahindra Group is a US$20.7 billion federation of companies headquartered in India, which collectively employs over 240,000 people across 100 countries. The group has a leadership position across a diverse range of sectors including: utility vehicles, information technology, financial services and vacation ownership in India, as well as being the world’s largest tractor company, by volume. It also has a strong presence in agribusiness, aerospace, commercial vehicles, components, defense, logistics, real estate, renewable energy, speedboats and steel, amongst other businesses.
Commitments
- The Mahindra Group is committed to becoming carbon neutral by 2040.
- Anand Mahindra, chairman of Mahindra Group, committed to setting science-based targets (SBTs) for all of the group’s companies. 20 of the group’s companies have so far committed to setting SBTs, with the Science Based Targets Initiative.
- The two Mahindra companies with the highest emissions – Tech Mahindra and Mahindra Sanyo Special Steel (MSSSPL) – were the first to commit to setting SBTs and already have approved targets. MSSSPL was the first metals company in the world to have an approved SBT. Mahindra First Choice and Bristlecone have got their targets.
- Mahindra & Mahindra and Mahindra Holidays and Resorts have both committed to double energy productivity with EP100 by 2030, from a 2009 baseline.
- Mahindra & Mahindra became the first Indian company to announce its internal carbon price of $10 per tonne of carbon emissions.
- Mahindra Holidays and Resorts is committed to switching to 100% renewable electricity with RE100.
- Tech Mahinda has committed to 22% reduction in GHGs by 2030 and 50% by 2050
Emissions reduction
- The group’s total emissions, across direct, indirect and value chain emissions (Scope 1, 2 and 3), fell 14.0% to 618,439 t CO2 in FY 2017-2018, from 718,986 t CO2 in the previous year.
- Scope 1 emissions declined by 2.4% to 41,777 tCO2 in FY 2017-2018, compared to the previous year due to process improvements and switchover to cleaner fuels.
- Scope 2 emissions increased 7.1% to 226,950 tCO2 and Scope 3 emissions fell 25.0% to 349,712 tCO2 in FY 2017-2018, from the previous year.
- The group surpassed its target for max total energy consumption in 2017-2018 by over 1%. Against the target of 477,947 MWh set for FY 2017-18, the total energy consumed stood at 473,132 MWh.
- Energy required to produce one vehicle continues to go down towards the EP100 target of doubling energy productivity by 2030 on a 2009 baseline.
- The group saved 58 million kWh of energy from more than 700 energy efficiency projects implemented in the past five years.
- Vehicles are now being produced with 87% increase in energy productivity compared to nine years ago.
Renewable electricity
- The amount of renewable energy being used by the group jumped more than 100% to 8,972 MWh in FY 2017-2018, from 3,909 MWh in the previous year.
- In FY 2017-2018, the group installed 269kW peak solar power plant at a tractor warehouse, which will cater to 27% of power requirements at Jaipur plant.
- Total investment in environmental interventions in FY 2017-2018 was US$4.21 million; with more than half of that for wind power generation.
Electric vehicles
- Mahindra Group is a pioneer of electric vehicle technology in India. It has a range of products, including newly launched e-Alfa Mini, for emission-free travel in cities.
- The company has released India’s first electric SUV, the e-KUV1OO and the first electric bus, the e-COSMO.
Cost savings through decarbonisation
- In the last 5 years, Mahindra has saved enough energy to supply electricity to 14,525 Indian homes for a year.
- More than US$5 million is being invested in energy efficiency projects each year, with returns in excess of 24%.
- Mahindra Group businesses have demonstrated that decarbonisation is possible, while boosting employment, investment, and innovation.
- The group is already generating revenue of US$419 million from its ‘green’ businesses.
Impact Areas
- Mahindra Group worked with more than 200 suppliers to help them adopt LED lighting.
- Mahindra Group is a water positive Group
- 10 different production plants are now certified as zero waste to landfill. In the automotive division, the Igatpuri plant became the first plant in India and second in the world to be certified as zero waste to landfill. Mahindra Holiday’s Virajpet resort is zero waste to landfill.
- Over 16 million trees have been planted across India thanks to Mahindra projects.
Green Portfolio
Mahindra has a $418 million green product portfolio which consists of low-carbon, climate-friendly product lines and corporate practices. It is in the arena of automotive sector through electric mobility; mobility solutions in the shared mobility space; Housing and real estate; renewables and clean technology and micro irrigation.
- Every building built by Mahindra Lifespaces is a green building
- Mahindra Susten sets up solar power generating stations and solar mini-grids
- Mahindra EPC manufactures micro-irrigation systems
- Mahindra Reva and GenZe are electric automotive businesses
- Mahindra steel business is a sustainable supplier to BMW
- M&M builds alternative fueled vehicles promoting climate smart agricultural practices
- Trringo, like Uber for tractors, encourages shared resource in agriculture
Leadership
- Chairman Anand Mahindra added his voice to the UN Global Compact, urging businesses to set more ambitious climate targets in the lead-up to the UN Secretary-General’s Climate Action Summit, September 2019