Mahindra Logistics moves ahead in its Carbon Neutrality goal

6 Jun 2022 , 04:01 PM

Mahindra Logistics Ltd. informed the exchanges and investors that Science Based Targets Initiative (SBTi) has validated its target to reduce carbon emissions and the company remains on course to meet its long-term sustainability goals.

This achievement of Carbon Reduction Targets has been set in line with the level of reduction needed to limit global warming to 1.5°C, as per the Paris Agreement on Climate change. This is an important milestone in the direction of the company’s ambitious aim of being carbon neutral by 2040.

Mahindra Logistics is incidentally one of the few companies in the logistics sector, to receive this validation from SBTi and is working towards achieving its sustainable goal by 2040.

This agreement with SBTi was signed by MLL last year and managed to accomplish the set standards targeted in the first year. By joining the initiative in 2021, MLL signalled its intention to align its targets to the most ambitious aim of the Paris Agreement, to limit global temperature rise to 1.5°C above preindustrial levels and reach net-zero by 2050 for the best chance of avoiding the worst impacts of climate change, stated the company in its media release.

Rampraveen Swaminathan, MD, and CEO, Mahindra Logistics commented on the achievement, “Mahindra Logistics is deeply dedicated to sustainability, at par with our RISE philosophy. Joining SBTi is part of the company’s focus on creating a transparent journey towards carbon neutrality, which can be aligned with clear programs & initiatives. This milestone is a validation of the company’s commitment and vision to become carbon-neutral by 2040.”

Mahindra Logistics ended at Rs466.75 down by Rs9.35 or 1.96% from its previous closing of Rs476.10 on the BSE.