Mahindra becomes first Indian ‘Auto company’ to enter the World Index of DJSI
New Delhi: Mahindra & Mahindra Limited (M&M)has entered the World Index list of companies in the Dow Jones Sustainability Index (DJSI) 2021. Interestingly, out of the five Indian companies featuring in the World Index this year, two are Mahindra Group companies – M&M and Tech Mahindra.
M&M is the first Indian ‘Automobile and Components’ company to enter the World Index of DJSI.
While M&M also features in the Emerging Market Index of DJSI for the 12th time in a row, Tech Mahindra has been a member of both the World Index and the Emerging Market Index for the last 7 years. This year, there are only 13 other Indian companies in the Emerging Market Index.
Inclusion in the Index is a recognition of the company’s leadership in the ESG domain. The company has been committed to being a carbon-neutral company by 2040. It is also the first company in the world to commit to doubling energy productivity and the first company in India to use an internal carbon price to drive climate investments.
As a signatory of the Science-Based Targets program, M&M has committed to reducing Scope 1 and Scope 2 emissions by 47 per cent and Scope 3 emissions by 30 per cent on a 2016 baseline and is well on its way to do so.
S&P Dow Jones Sustainability Index (DJSI), a partnership between the S&P Dow Jones Indices and RobecoSAM, seeks disclosures from more than 5300 companies globally. It is the first global index to track sustainability actions by corporates on environmental, social, and governance dimensions.
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As per the criteria, the company makes it to the World Index if its scores are in the top 10 per cent of its sector worldwide.
Remarking on M&M’s achievement, Dr Anish Shah, Managing Director & CEO, M&M Ltd said, “This recognition comes at a time when all of us are fresh from COP26 discussions and revitalising our sustainability agenda. We believe that we have crossed the threshold on technology readiness in many industries including auto – this is a major shift from past years. As a result, we are working closely with our partners and suppliers to create a viable ecosystem for the customers.”
He further added that the company’s employees follow the “MSP” mantra i.e., make sustainability personal, which has brought several changes in building the company’s sustainability efforts at the grass-roots levels.
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