Tata Motors, LeadIT collaborate for greener future

13 Feb 2024 , 12:16 PM

Tata Motors said on Monday that it has joined the Leadership Group for Industry Transition (LeadIT), a worldwide partnership formed by the governments of Sweden and India at the UN Climate Action Summit in September 2019.

As a member of LeadIT, the automaker will be able to use the power of global best practices, influence policymaking, and enhance climate action plans alongside other members, expediting the transition to net-zero emissions.

Tata Motors Vice President and Chief Sustainability Officer SJR Kutty affirmed our dedication to a more environmentally friendly future, stating that our commitment to achieving net-zero emissions in the Passenger Vehicles (PV) business by 2040 and the Commercial Vehicles (CV) business by 2045 stands as a testament to this pledge.

Joining hands with LeadIT brings the carmaker closer to its ambitious aims, providing a path to long-term change, he noted.

Romina Pourmokhtari, Sweden's Minister for Climate and the Environment and Co-Chair of LeadIT, stated that the participation represents a significant commitment to net-zero from a major worldwide manufacturer in the supply chain.

Demand signals are critical to the evolution of our sector. 'Fostering dialogues and strengthening partnerships in areas where transition challenges must be addressed is critical to achieving lower climate emissions,' she said.

At around 10.56 AM, Tata Motors was trading 0.18% higher at ₹913.25, against the previous close of ₹911.60 on NSE.

Tata Power posted a net profit of ₹1,076.12 Crore, up 2% year-on-year from ₹1,052.14 Crore. Revenue increased by 6.2% to ₹15,294.13 Crore from ₹14,401.95 Crore in the previous fiscal. Earnings before interest, taxes, depreciation, and amortization (EBITDA) increased 20% to ₹3,060.55 Crore from ₹2,607.61 Crore.

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