JSW Group offers Rs 300,000 EV-buying incentive to employees

Mumbai-based conglomerate JSW Group has unveiled its latest green initiative – the JSW Electric Vehicle (EV) Policy – for its employees across India. This is the first Initiative of its kind by a major Indian corporate house and comes into effect for its nationwide workforce from January 1, 2022.

The company’s EV policy will facilitate up to Rs 300,000 incentive for employees to purchase electric vehicles – four-wheelers as well as two-wheelers – and aims to promote the adoption of EVs 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.

Commenting on the initiative, Sajjan Jindal, Chairman, JSW Group said, “Since our Prime Minister announced at the 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 and 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. 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 JSW Group has been incorporating sustainability into its core operations and decision-making practices, along with adopting the Best Available Technologies (BAT) to improve climate impact performance.

JSW Steel Ltd has adopted a specific climate change policy and set an ambitious 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.