Commitment # 1

100% Renewable Electricity by 2030

Net Zero emissions by 2050 is an international goal and a global consensus arrived at the Paris Agreement to contain global warming to 1.5°C above pre-industrial levels. Considering that the energy sector contributes to nearly 75% of global greenhouse gas emissions, renewable electricity assumes great significance in accomplishing Net Zero by 2050. Energy transition is a strategic priority for India as well. India has committed to Net Zero carbon emissions by 2070 and fulfillment of 50% of energy requirements with renewable power by 2030 at the COP 26 held in Glasgow in November 2021.

For the Mahindra group, sustainability lies at the core of its purpose. It has been one of the foremost businesses rising to the climate challenge. Renewable electricity plays a vital role in Mahindra group’s climate strategy and is committed to 100% Renewable Electricity by 2030. The share of renewable electricity to total electricity at a group level stands at 26 % as on FY23. By increasing the share of renewable electricity in the total energy consumption, the group demonstrates its commitment to environmental responsibility and support to the global effort to transition to a low carbon economy.

Some of the notable accomplishments and ongoing initiatives include:

This is a commitment that is aligned with UNSDG 7 - Clean and safe energy.