Vedanta rolls out electric vehicle policy for all employees – EQ Mag
Vedanta rolls out unique EV policy for all employees
· In major push towards green mobility, policy incentivizes employees to switch to EVs
· Vedanta has pledged to decarbonize 100% of their light motor vehicles fleet by 2030
New Delhi : 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 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 their 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, 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.
ABOUT VEDANTA LIMITED
Vedanta Limited, a subsidiary of Vedanta Resources Limited, is one of the world’s leading Oil & Gas and Metals company with significant operations in Oil & Gas, Zinc, Lead, Silver, Copper, Iron Ore, Steel, and Aluminium & Power across India, South Africa and Namibia. For two decades, Vedanta has been contributing significantly to nation building. Governance and sustainable development are at the core of Vedanta’s strategy, with a strong focus on health, safety, and environment. 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. Giving back is in the DNA of Vedanta, which is focused on enhancing the lives of local communities. The company’s flagship social impact program, Nand Ghars, have been set up as model anganwadis focused on eradicating child malnutrition, providing education, healthcare, and empowering women with skill development. Under the aegis of the Anil Agarwal Foundation, the umbrella entity for Vedanta’s social initiatives, the Vedanta group has pledged Rs 5000 crore over the next five years on social impact programs with a thrust on nutrition, women & child development, healthcare, animal welfare, and grass-root level sports. Vedanta and the group companies have been featured in Dow Jones Sustainability Index, and was conferred Golden Peacock Award for excellence in Corporate Governance 2022 and certified as a Great Place to Work 2022. Vedanta Limited is listed on the Bombay Stock Exchange and the National Stock Exchange.
Source: vedantalimited
