Mumbai-based JSW Group has become the first major Indian multinational conglomerate to roll out an electric vehicle (EV) policy for its employees. Under the new scheme, employees will be able to avail an incentive of up to Rs 3 lakh towards purchasing a four-wheeler or two-wheeler EV. The Green Initiative JSW Electric Vehicle (EV) Policy will be rolled out nationwide for all JSW employees from January 1, 2022.
The policy is aimed at increasing the pace of EV adoption across sectors and creating the necessary supplementary framework to slowly decarbonise the transportation sector, which is the third leading sector in terms of carbon emissions in India. The policy is also “aligned with India’s Nationally Determined Contributions (NDCs) and Sustainable Development Scenarios (SDS) of The International Energy Agency (IEA)”.
“The new JSW EV Policy is a unique initiative leading to increased thrust on EVs in India and enable access to green mobility as our country pledged to reach net-zero carbon emissions by 2070. We would continue to move ahead responsibly, singularly focused on reducing our own impacts and be the pioneers in the sustainability domain. The goal is to build ambition among corporate and government bodies to support India’s submission at COP26,” said Sajjan Jindal, Chairman, JSW Group & WorldSteel Chairman.
The JSW Group will also add free-of-cost dedicated charging stations and green zones (parking slots) for electric vehicles across all its office and plant locations for both employees and visitors.
“With so many changes in the environment, automation, and processes, it is imperative to review and harmonise prevailing employee policies with contemporary practices. As electric vehicles are more efficient than traditional IC engine vehicles, the JSW EV policy effective from January will set a benchmark for others to follow. EVs are not only cost-effective, but they also have tax advantages," said Dilip Pattanayak, President & CHRO, JSW Group.
The company’s latest policy is aligned with its long-term vision to bring its carbon emissions down by 42 percent by 2030. The company already engages in new-age carbon reduction strategies like carbon capture and utilisation, operating a CCU of 100TPD capacity.