Mahindra & Mahindra Ltd. (M&M Ltd. or Mahindra), a mobility products and farm solutions provider, is the flagship company of the Mahindra Group, an Indian multinational federation of companies operating in over 100 countries around the globe with a presence in multiple industries.
In order to take action on combating climate-related risk and contribute to the ambitious emissions reduction target set by the Group, M&M Ltd. decided to set a robust Science Based Target (SBT) in line with the climate goal from the Paris Agreement. During the target development process the company assessed and set science-based greenhouse gas (GHG) reduction targets, considering their direct (scope 1) and indirect (scope 2 & 3) emissions. Mahindra evaluated their emissions based on the Science Based Target Initiative (SBTi) methodology, using primary collected data and data from Sphera’s LCA databases GaBi, to get robust insights for their entire value chain.
Setting a SBT helped Mahindra improve the environmental performance and gain more transparency for their internal and external stakeholders. The company became a part of CDP (Climate Disclosure Project) Climate Change Rising Star 2019 List and received Bronze Class in DJSI’s (Dow Jones Sustainability Index) Global Sustainability Yearbook 2020.
Founded in: 1945
Mumbai, Maharashtra, India (HQ)
Sphera’s Sustainability Consulting Services
Mahindra turned to Sphera to benefit from their expertise in scope 3 GHGs screening and quantification across applicable categories from all of 15 categories and strategic consulting services in simulating scenarios for setting up emission reduction targets using the Transportation Sector Decarbonization Approach (SDA) and SBTi tools.
Sphera’s sustainability experts supported M&M Ltd. by setting up targets using SBTi methodology for scope 1, 2 and 3 emissions, by assisting in the validation process and helping with announcing the targets. Furthermore, the baseline for scope 3 GHG emissions was calculated based on Sphera’s Life Cycle Assessment (LCA) GaBi databases.
“Setting GHG emission reduction targets in line with climate science is a great way to future-proof natural capital for all of us. We partnered with Sphera for our mobility and farm solutions business to set up emissions reduction targets as per the SBTi framework. Sphera’s data services on supply chain GHG emissions and domain expertise helped us to achieve the desired outcome.”
— Anirban Ghosh, Chief Sustainability Officer, Mahindra Group