**Mumbai**: Ankit Todi, Chief Sustainability Officer at Mahindra Group, discusses the company’s multi-faceted sustainability strategy, including a commitment to carbon neutrality by 2040 and renewable energy by 2030, amidst evolving ESG standards and the pressing urgency of climate action in business.
The conversation around Environmental, Social, and Governance (ESG) practices and sustainability in business has seen a considerable evolution, marked by differing interpretations and increasing complexity in reporting standards. Among those navigating these challenges is Ankit Todi, the Chief Sustainability Officer at Mahindra Group, a global company with a workforce of approximately 240,000 employees, operating in 100 countries across various industries, including real estate, hospitality, automotive, logistics, finance, and renewable energy. Since taking charge of the sustainability strategy in January 2022 and assuming the role of group chief sustainability officer in July 2024, Todi has been at the forefront of the company’s sustainability initiatives.
In 2022, Mahindra Group committed to achieving carbon neutrality by 2040 and utilising only renewable energy by 2030, a pledge which the company has adhered to thus far. Speaking on “The Eco-Business Podcast,” Todi elaborated on how the understanding of ESG varies widely among businesses, leading to confusion about priorities and actions that address climate change. “Climate change is not a matter of opinion. It’s a fact,” he asserted, highlighting the increasing relevance and urgency of climate-related issues in business strategy. He expressed that the implications of climate change will soon profoundly impact various industries, emphasising the need for companies to prepare for these shifts from both a risk and opportunity perspective.
Todi noted that while there may be a pushback against the ESG framework and its terminology in regions such as the United States and parts of Asia, the fundamental issues surrounding climate action would continue to gain traction. As he explained, actions towards sustainability, such as transitioning to renewable energy, should be framed increasingly around energy security and cost-saving measures, which resonate strongly from a business standpoint.
The Mahindra Group’s approach to sustainability involves a multi-faceted “Planet Positive” strategy aimed at integrating sustainable practices across its divisions. Todi outlined three main pillars of this strategy: “greening operations”, decarbonising industries, and examining intersections that positively influence societal outcomes. Greening operations focuses on reducing emissions, achieving water positivity, waste management, and material circularity. The second pillar, decarbonising industries, aims to create a line of green revenues, particularly in the automotive sector through electric vehicles and other sustainable innovations. The final pillar encompasses broader societal goals, such as supporting smallholder farmers in the agricultural sector with sustainable practices and climate resilience measures.
Mahindra Group’s sustainability agenda benefits from a relatively small but dedicated central team supplemented by sustainability units within its various listed businesses, amounting to around 50 dedicated sustainability staff members. Todi emphasised that sustainability must be a collective effort across different functions such as procurement, operations, and product development. “Sustainability teams are often advisors and change-makers, but the real action has to be taken by other teams,” Todi noted.
In discussing recent geopolitical uncertainties and the backlash against ESG, Todi acknowledged the shifting narrative surrounding sustainability. He noted that while engagement with the traditional ESG framework may become contentious, its sub-components remain essential. He argued that the climate lens remains a clearer and more actionable path forward for businesses. The Mahindra Group continues to advocate for sustainability at a corporate level, with strong support from leadership, including Chairman Anand Mahindra and Managing Director Dr Anish Shah, both of whom are actively involved in setting and promoting sustainability goals.
For those aspiring to enter the sustainability field, Todi encouraged a broad approach, suggesting that sustainability principles can be integrated into various roles beyond those explicitly related to environment and climate. For instance, procurement teams can prioritise suppliers who are committed to sustainable practices, while marketing professionals can utilise their platforms for climate advocacy. “Whichever role you end up in, you can bring a sustainability lens that will make you much more effective in your job,” he advised.
As the discussion around sustainability continues to evolve, Mahindra Group stands as a notable example of a corporation actively integrating sustainability into its business model and addressing the challenges posed by climate change and ESG complexities.
Source: Noah Wire Services
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