Mindspace Business Parks REIT pledges 100% shift to electric vehicles by 2030

Mindspace Business Parks REIT is the first real estate entity from India to join the Climate Group’s global EV100 initiative that brings together nearly 90 international companies committed to making electric transport the new normal by the end of this decade.

The announcement came during the recent Climate Week NYC 2020, a climate summit that showcases action by leading businesses and governments.

“By providing charge points for thousands of its employees, the entity is helping to drive India’s transition to electric mobility, lowering emissions and improving air quality at the same time,” said Divya Sharma, Executive Director- India, Climate Group.

The company that went public in August saw its initial public offering subscribed 13 times and listed at a premium of 11 percent at Rs 304 per unit at a time when the economy has taken a hard knock due to the coronavirus outbreak.

More and more companies are committing to electric vehicles as they face increased scrutiny and concerns over global warming and climate change.

In late August, Walmart-owned online retailer Flipkart, too, joined the EV100 initiative and said its entire fleet would be electric by 2030.

Flipkart will do this by placing requirements in service contracts, installing charging infrastructure close to its 1,400 supply chain outlets and incentivising delivery executives, it said.