Tech Mahindra signs UNGC Initiative to reduce CO2 emissions; Target to raise renewable energy to 50% by 2025

Tech Mahindra Ltd, an IT subsidiary of the Mahindra Group has joined 155 global companies by inking a joint declaration with United Nations Global Compact (UNGC) urging governments to align their COVID-19 recovery efforts with the latest climate science.

• Through this joint declaration, Tech Mahindra aims to reduce carbon dioxide (CO₂) emissions and energy conservation by using new-age technologies like internet of things (IoT), artificial intelligence and block chain.
• Apart from above, Tech Mahindra set targets to increase the renewable source of energy to 50% by 2025.
• It has joined the global companies in calling for policies that will build resilience against future shocks by supporting efforts to hold global temperature rise to within 1.5°C above pre-industrial levels, in line with reaching net-zero emissions well before 2050.
• Tech Mahindra also reaffirms its commitment to achieving net-zero carbon emissions with fairer transition from a grey to a green economy.

Efforts by tech Mahindra towards green economy:

-An internal Carbon Price of $10/ton CO₂ has been implemented by the company to boost green investments

-Adopted a low emission technology path to increase the use of renewable energy from 1.7% in 2016 to 18% in 2020.

About Tech Mahindra

Managing Director (MD) & Chief Executive Officer (CEO)– Chander Prakash Gurnani
Headquarters- Pune, Maharashtra

About UNGC

It is world’s largest corporate sustainability initiative. It is a call to companies to align strategies and operations with universal principles on human rights, labour, environment and anti-corruption, and take actions that advance societal goals.
Headquarters– New York, United States (US)
CEO & Executive Director– Ms. Lise Kingo