In a major step towards sustainability, Vedanta Ltd, a globally diversified natural resources company, launched its EV Policy for employees across all locations. Under the new policy, the company is extending concessions to all employees with incentives ranging from 30% to 50% for various employee grades for the purchase of 4-wheeler and 2-wheeler electric vehicles.
Road-based transportation is responsible for nearly 12% of global GHG emissions. As part of its commitment towards Net-Zero Carbon, Vedanta has pledged 100% of its light motor vehicles to be decarbonized by 2030. This EV 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, of 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.”
Vedanta has put in place a comprehensive framework to be the ESG leader in the natural resources sector. Vedanta is committed to reducing carbon emissions to zero by 2050 or sooner and aims to spend $5 billion over the next 10 years to accelerate the transition to net zero operations. The company has also recently partnered with the World Economic Forum by joining 1t.org- the one Trillion Tree platform and pledges to grow 7 million trees for creating a resilient environment.