Commenting on the development, Tom Kerr, Director, Carbon Pricing Leadership Coalition, The World Bank Group, said "Mahindra & Mahindra's new internal carbon price is an excellent example for companies in India—and around the world—of how smart companies are taking advantage of low-carbon investment opportunities while managing carbon risk."

Mahindra adopted the new carbon price after several months of rigorous planning and effort in keeping with its progressive attitude toward sustainability. The company partnered with the World Bank and IFC led Carbon Pricing Leadership Coalition along with the World Resources Institute, India to enhance its understanding of the Carbon Price mechanism.

Mahindra started reporting its emissions from FY-2008 and over the last eight years the company has reduced its carbon emissions by 47% and its energy use by 32%. It has invested in developing India' first and only electric car, the E2O. Other initiatives include a recent investment in 4.2 MW of wind power and the use of Magnetic induction, LED lighting technology and waste heat recovery systems at its plants.

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