Climate Policy Engagement Analysis
Climate Policy Engagement Overview: Mahindra & Mahindra demonstrates strategic policy engagement that is partially aligned with policy pathways aiming to deliver the temperature goals of the Paris Agreement. Mahindra & Mahindra has positive top-line climate policy messaging and has supported multiple policies to support India’s transition to electric vehicles.
Top-line Messaging on Climate Policy: Mahindra & Mahindra’s Chairman Anand Mahindra supported the Paris Agreement and its 1.5°C global warming goal in the company’s 2023-24 Sustainability Report published in June 2024. In an October 2023 joint We Mean Business letter, Mahindra & Mahindra supported numerous higher ambition climate regulations, and strong action at COP28 to meet Paris Agreement goals. In October 2023, Mahindra & Mahindra CEO Anish Shah signed a WEF joint letter that supported carbon pricing.
Engagement with Climate-Related Regulations: Mahindra & Mahindra has mostly positive engagement on climate-related regulations in 2023-24. Mahindra CEO, Anish Shah, supported global targets to triple renewable energy capacity by 2030 and to increase the share of renewable energy in global electricity to 70-90% by 2030 in a September 2023 joint letter to G20 Heads of State. Mahindra & Mahindra also disclosed supporting gradual increases to requirements in India’s Renewable Purchase Obligation program in its 2023 CDP disclosure.
In Mahindra & Mahindra’s 2023 CDP disclosure, the company disclosed that it actively supports a carbon tax in India, and supported the extension of India’s Perform Achieve and Trade (PAT) energy efficiency program to the automotive industry. CEO Shah expressed support for energy efficiency targets in a September 2023 joint letter to G20 Heads of State, and investments to make agricultural production more efficient in an October 2023 joint statement through the Alliance of CEO Climate Leaders.
More negatively, Mahindra & Mahindra appeared to advocate for weaker emissions trading rules under India’s Corporate Average Fuel Economy (CAFE) standards in a February 2024 BusinessLine news article. In a May 2024 Autocar Professional article, Mahindra & Mahindra stated compliance with CAFE standards without taking a clear position on the policy.
Positioning on Energy Transition: Mahindra & Mahindra has mostly positive engagement on policies promoting the electrification of transportation in 2023-24. Mahindra & Mahindra CEO Anish Shah strongly supported India’s e-DRIVE scheme, including incentives for battery electric vehicle purchases, in September 2024 comments in the Economic Times. The CEO also supported both India’s Production Linked Incentive (PLI) Scheme and Faster Adoption and Manufacturing of Electric Vehicles (FAME III) Scheme in a July 2024 CNBC interview. Last Mile Mobility, a Mahindra & Mahindra subsidiary, also supported an extension to India's FAME II EV subsidy scheme in an April 2023 Live Mint interview.
Mahindra & Mahindra CEO Anish Shah also supported incentives to expand electric vehicle charging infrastructure, while advocating against extending incentives to internal combustion engine (ICE)-powered hybrid vehicles in June 2024 comments reported by Business Standard. Similarly, Mahindra & Mahindra advocated against the Indian government reducing the Goods and Services Tax (GST) for ICE-powered hybrid vehicles in January and August 2024 press articles, supporting instead the full electrification of transportation. Similarly, Reuters in August 2024 further reported that Mahindra had urged the Uttar Pradesh government to not cut registration taxes on ICE-powered hybrids, and instead prioritize battery electric vehicles.
In its 2023-24 Annual Report, published in June 2024, Mahindra & Mahindra supported the electrification of road transport and the decarbonization of the industry sector in India. In an October 2023 We Mean Business joint letter, Mahindra & Mahindra advocated to remove fossil fuels subsidies and to phase-out fossil fuels in favor of renewables to urgently decarbonize the power sector. Mahindra & Mahindra’s CEO, Anish Shah, also supported the rapid expansion of renewables in India in a comment reported by the Economic Times in December 2024.
Industry Association Governance: Mahindra & Mahindra has disclosed its industry association memberships in its 2024-25 Annual Report, with no further details on its role within the organization, or its alignment with industry associations’ climate policy positions. Mahindra & Mahindra has not published an industry association review. A Mahindra & Mahindra executive is co-chair of Society of Indian Automobile Manufacturers (SIAM) Sustainable Mobility Group, with SIAM having mostly negative positions on Indian automotive climate policy. Mahindra & Mahindra is a member of the Federation of Indian Chambers of Commerce & Industry (FICCI), which has both positive and negative engagement on climate policies in India. Mahindra & Mahindra is also a member of the Associated Chambers of Commerce and Industry of India (ASSOCHAM) and the of Indian Industry (CII), which both have mostly positive engagement on climate policy in India.
InfluenceMap collects and assesses evidence of corporate climate policy engagement on a weekly basis, depending on the availability of information from each specific data source (for more information, see our methodology). While this analysis flows through to the company’s scores each week, the summary above is updated periodically.
Additional Note: Mahindra & Mahindra is headquartered in India, where InfluenceMap’s LobbyMap platform can currently only make a provisional assessment of corporate climate policy engagement, due to limited capability to access publicly available data on this issue. As it is possible that InfluenceMap is not yet able to fully capture evidence of Mahindra & Mahindra’s climate policy engagement activities, these scores should be considered provisional at this time.
This summary was last updated in Q3 2025.