Mumbai-based mining and metallurgy giant Vedanta Ltd recently introduced its new EV policy for employees at all locations as a significant step toward sustainability. According to the new EV policy, the corporation is providing discounts to all employees along with incentives ranging from 30% to 50% for different employee classes to buy 4-wheeler and 2-wheeler electric vehicles.
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Almost 12% of the world’s GHG emissions are caused by the transportation sector on the road. Vedanta has vowed to completely decarbonize all of its light motor vehicles by 2030 as part of its commitment to achieving Net-Zero Carbon. For purchases made starting in December 2022, this EV Policy will be in force for the company’s employees.
Mr. Sunil Duggal, Group CEO of Vedanta Limited, commented on this move, saying, “In keeping with our people-first attitude and incorporating the ESG standards into everything that we do, we are glad to announce our new EV policy for our workers. The strategy would encourage more employee EV adoption and change of thinking, supporting India’s green transportation effort for a sustainable future. With the program, we also invite other businesses to adopt sustainability practices and work with us to get the nation to net zero.”
Vedanta has established a thorough framework to lead the natural resources industry in ESG. Vedanta 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. The business recently joined 1t.org, the one Trillion Tree platform, and pledged to cultivate 7 million trees to build a resilient ecosystem. This partnership with the World Economic Forum is another recent development.
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