The R&D division of the German luxury carmaker, Mercedes-Benz Research and Development India (MBRDI) in association with Villgro and World Resource Institute India (WRI India), has launched an assessment framework.
The framework aims to raise awareness on maximising impact beyond zero tailpipe emissions while also facilitating the creation of a uniform standard for socio-economic and environmental impacts within the electric mobility sector.
Further, it also allows enterprises to track and manage their impact from the early stages of development, allowing deeper integration of sustainable practices into their business.
This framework will prove to be an equally important instrument for impact investing firms to base their investment decisions on a holistic, comparable, and standardised framework that prioritises social and environmental impact besides financial viability and growth metrics, a press release from the company said.
It further added that an estimated $180 billion of investments are required to meet India’s 2030 EV targets.
Manu Saale, Managing Director, and CEO, MBRDI, said, “Sustainable mobility requires a holistic approach, and the direct and indirect impact of this assessment framework will influence a wide range of socio-economic and environmental outcomes in the industry.”
With rapid global growth in e-mobility and massive investments expected over the next decade, there is a unique opportunity to maximise the positive impact of this sector across the value chain, he added.
Chaitanya Kanuri, Senior Manager – Electric Mobility, WRI India, said, “With a growing number of investors applying ESG and impact lenses in making investment decisions, this framework will help companies in aligning their economic and environmental sustainability.”
Ananth Aravamudan, Sector Lead, Climate Action at Villgro Innovations Foundation, said that many e-mobility start-ups are integrating impactful initiatives in their evolving business models in manufacturing, sales, or services.
MBRDI currently supports e-mobility start-ups such as Sheru and Ziptrax with battery swapping infrastructure and battery packs utilised by their e-rickshaw drivers, the release said.
Over time, this framework will support the development of benchmarks for consumer, workforce, and societal impacts in the e-mobility sector for new and mature enterprises, it added.