JSW launches electric vehicle policy for employees

Business conglomerate JSW Group on Monday unveiled a new green initiative for its employees that will provide incentives on electric vehicle purchase with special provision for free charging stations and separate parking facilities at offices.

The company’s Electric Vehicle (EV) Policy, which is aligned  with India’s Nationally Determined Contributions (NDCs) and Sustainable Development Scenarios (SDS) of The International Energy Agency (IEA), will come into effect for its nationwide workforce from January 1, 2022. 

The new EV Policy will facilitate up to ₹3 Lakhs incentive for employees to purchase electric vehicles- four-wheelers, as well as two-wheelers facilitating adoption of green transport across the Group.

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, a company statement said. 

Sajjan Jindal, Chairman, JSW Group said, “Since our honourable Prime Minister announced at Glasgow COP26 meeting that India strives to reach net-zero carbon emissions by 2070, JSW Group’s new EV Policy is a unique initiative leading to increased adoption of EVs in India and enabling access to green mobility. We would continue to move ahead responsibly, singularly focused 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.”

Dilip Pattanayak, President & CHRO, JSW Group said, “With so many changes in the environment, automation, and processes, it is imperative to review and harmonize prevailing employee policies with contemporary practices. The transport sector in India is currently the third-largest emitter of CO2.  As electric vehicles are more efficient than traditional IC engine vehicles, the JSW EV policy, effective January 2022, will set a benchmark for others to follow. EVs are not only environmentally-friendly but also cost-effective.”

The EV policy is not fists sustainable development initiate by the steel to energy Group. JSW Steel Ltd has adopted a specific climate change policy and set an  CO2 emission reduction target of 42% reduction over the base year of 2005 by 2030 (to a level 1.95tCO2/tcs). 

In India, JSW Steel is operating a Carbon Capture and Utilization (CCU) of 100TPD capacity where the captured and refined CO2 is used in the beverage industry.