JSW Group launches new EV Policy for employees to promote adoption of electric vehicles

(Representative image)

JSW Group has launched an Electric Vehicle (EV) Policy for their employees as their latest Green Initiative. The policy, which comes into effect from January 1, 2022, aims to promote the adoption of electric vehicles across the Group.

The new EV Policy will facilitate up to Rs 3 lakh incentive for employees to purchase electric vehicles - four-wheelers, as well as two-wheelers. Apart from financial incentives, free-of-cost dedicated charging stations and green zones (parking slots) for electric vehicles will be provided at all JSW offices and plant locations for employees.

Sajjan Jindal, Chairman of JSW Group said the policy is in line with India's commitment at COP26 to have net-zero carbon emissions by 2070. He said the policy is a 'unique initiative' that will lead to increased adoption of EVs in India and enable access to green mobility.

JSW Group has been adopting Best Available Technologies (BAT) to improve climate impact performance. JSW Steel Ltd has adopted a specific climate change policy and set an ambitious CO2 emission reduction target of 42% over the base year of 2005 by 2030 (to a level 1.95tCO2/tcs).

In India, JSW Steel is operating a Carbon Capture and Utilisation (CCU) of 100TPD capacity where the captured and refined CO2 is used in the beverage industry.

"The transport sector in India is currently the third-largest emitter of CO2. As electric vehicles are more efficient than traditional IC engine vehicles, the JSW EV policy, effective January 2022, will set a benchmark for others to follow. EVs are not only environmentally-friendly but also cost-effective", said Dilip Pattanayak, President & CHRO, JSW Group.