Vedanta Ltd. announced on Tuesday that as part of its commitment to net-zero carbon, it has implemented an electric vehicle policy for its staff. Vedanta employees will receive significant discounts on the purchase of electric two and four-wheeler cars under the recently announced incentives (EVs).
Vedanta rolls out electric vehicle policy for all employees
With its main operations in iron ore, gold, and aluminum mines in Goa, Karnataka, Rajasthan, and Odisha, Vedanta Limited is a multinational mining company with its headquarters in Mumbai, India.
The company focuses on reducing the imports into India by increasing manufacturing and through sustainable growth make India ‘atmanirbhar’ in natural resources. The company accounts for almost 1.4 per cent of India’s GDP. The company has raised $35 billion internationally over the years and invested it into the nation’s natural resources industry.
As part of its commitment to net-zero carbon emissions, the firm promised that 100% of its light motor vehicles would be decarbonized by 2030. According to the company, incentives ranging from 30 to 50 per cent will be given to different employee grades. Vehicles purchased starting this month onwards will be subject to the EV Policy.
“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 their light motor vehicles to be decarbonized by 2030” the company said.
According to Sunil Duggal, group CEO of Vedanta Ltd, the policy will encourage staff EV adoption and promote a shift in employees’ perspectives that will support India’s push for sustainable transportation.
“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,” said Sunil Duggal, Group CEO, Vedanta Limited.
The internationally diversified natural resources company plans to invest USD 5 billion over the next ten years in its goal of achieving zero carbon emissions by 2050 or earlier. Additionally, the company has teamed up with the World Economic Forum by joining 1t.org – one Trillion Tree program and making a commitment to plant 7 million trees in an effort to build a more resilient ecosystem.