M&M to go carbon neutral by 2040

Mahindra & Mahindra (M&M) Friday said it aims to become a carbon neutral company by 2040 with focus on energy efficiency and usage of renewable power.

The company will work on its carbon neutrality commitment with international non-profit organisation Environmental Defense Fund (EDF), M&M said in a statement.

"We are doing our part in the global fight against climate change with this ambitious new target," Mahindra Group Chairman Anand Mahindra said.

M&M will leverage the latest technological advances and its recently announced Carbon Price to work towards being carbon neutral by 2040, he added.

The company will focus on energy efficiency and the use of renewable power to achieve this target. Residual emissions will be addressed through carbon sinks, it added.

M&M is 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 2C above pre-industrial levels, the company said.