Vedanta has rolled out a new EV (Electrical Vehicle) Policy for its employees where the company is extending concessions to all employees with incentives ranging from 30 per cent to 50 per cent, across all locations.
The policy will cover for various employee grades for purchase of 4-wheeler and 2-wheeler electric vehicles. The policy will come into effect for the company’s employees for purchases made from December 2022 onwards.
Speaking on this initiative, Mr. Sunil Duggal, Group CEO, Vedanta Limited said, “In line with our people-first philosophy, and integrating the ESG practices into all that we do, we are pleased to announce our new EV policy for our employees. The policy will lead to increased adoption of EVs amongst employees and drive the mindset change aiding India’s green mobility push for a sustainable future. With the initiative, we also call upon other corporates to incorporate sustainability in their operations and join us in the country’s transition to net zero.”
Nearly 12% of worldwide GHG emissions are caused by road-based transportation. Vedanta has committed to decarbonizing all of its light motor vehicles by 2030 as part of its effort to achieve net-zero carbon emissions. The new EV policy is also said to be a major part towards sustainability
Vedanta has established a thorough framework to lead the natural resources industry in ESG. Furthermore, the company intends to invest $5 billion over the next ten years to hasten the transition to net zero operations and is committed to decreasing carbon emissions to zero by 2050 or earlier.
Recently, the business joined 1t.org, the one Trillion Tree platform, and pledged to cultivate 7 million trees in order to build a resilient ecosystem. This partnership with the World Economic Forum is another recent development.