JSW Group to pay up to ₹3 lakh incentive for employees to buy EV – The Hindu BusinessLine

Clipped from: https://www.thehindubusinessline.com/companies/jsw-group-to-pay-up-to-3-lakh-incentive-for-employees-to-buy-ev/article38050127.ece

WIDE

EV policy will come into force from January

In a first of its kind initiative, JSW Group has unveiled a green initiative —JSW Electric Vehicle — for its employees across India.

The EV policy will come into force from January.

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, JSW Group, said the new green policy is a unique initiative leading to increased adoption of EVs in India and enabling access to green mobility.

“We would focus on reducing our own impacts while being pioneers in the sustainability domain. The goal is to build ambition among corporate and government bodies to support India’s transition to net zero by 2070 as announced by Prime Minister at Glasgow COP26 meeting,” he added.

Dilip Pattanayak, President and CHRO, JSW Group, said the transport sector in India is currently the third-largest emitter of carbon-di-oxide.

As electric vehicles are more efficient than traditional IC engine vehicles, the JSW EV policy will set a benchmark for others to follow. EVs are not only environmentally-friendly but also cost-effective, he said.

The group’s flagship JSW Steel has adopted a specific climate change policy and set an ambitious carbon emission reduction target of 42 per cent by 2030 over the base year of 2005. The company is operating a Carbon Capture and Utilisation of 100TPD capacity where the captured and refined carbon-di-oxide is used in the beverage industry.

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