Mahindra's Igatpuri plant India's first Carbon Neutral Facility: Here's what it means - The Financial Express

Mahindra’s Igatpuri plant India’s first Carbon Neutral Facility: Here’s what it means

Mahindra is the first Indian manufacturer to announce its internal Carbon Price of $10 per ton of carbon emitted to fund investments required to pursue the path of carbon neutrality. The company is also a signatory of the Science-Based Targets initiative which provides companies with a clear pathway for reducing emissions.

By: | Published: December 4, 2018 4:25 PM

Mahindra's Igatpuri plant has become India's first carbon neutral manufacturing facility and has been certified by Bureau Veritas (India) Pvt. Ltd. Mahindra & Mahindra said that it was the first company in the world to commit to doubling its energy productivity by 2030, signing on to The Climate Group’s EP100 program. The company has said in a press statement that by using energy efficient lighting, efficient heating, ventilation, and air conditioning (HVAC), motors and heat recovery projects, it has doubled the energy productivity of its automotive business almost 12 years ahead of schedule. In simple words, carbon neutrality means achieving net zero carbon emissions by balancing out a measured amount of carbon released by a facility with an equivalent amount secluded or offset, or buying enough carbon credits in order to make up the difference.

Also, Mahindra is the first Indian manufacturer to announce its internal Carbon Price of $10 per ton of carbon emitted to fund investments required to pursue the path of carbon neutrality. The brand has over 10 years of experience in creating carbon sinks that has helped it to achieve the goal. M&M said that it will be working on its carbon neutrality commitment with the international non-profit organization Environmental Defense Fund (EDF), which works with leading companies to raise the bar for corporate sustainability leadership. The company says that it will continue to work with EDF and other leading partners as it implements actions towards achieving carbon neutrality.

Vijay Kalra, CEO, Mahindra Vehicle Manufacturers Ltd. & Chief Manufacturing Operations at Mahindra and Mahindra Limited, said that this is the first plant within the Mahindra Group to be certified as carbon neutral. The company has been able to achieve this through energy efficiency, a sharp focus on the use of renewable energy and the planting of trees to absorb residual carbon.

M&M 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 2°C above pre-industrial levels. All these commitments are helping the company on its path towards carbon neutrality.

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