Commits to Becoming Carbon Neutral by 2050
13 November 2024: JK Tyre & Industries, India’s leading tyre manufacturer, has reaffirmed its commitment towards sustainability by joining RE100 and using 100% renewable electricity by 2050.
JK Tyre is the first Indian tyre manufacturer and 16th Indian business to join RE100. To stay on course, the company has set a midterm goal (by FY’30) to reduce its greenhouse gas (GHG) emission intensity by 50% compared to the base financial year 2019. JK Tyre aims to drive sustainable practices within the sector, paving the way towards a carbon-neutral future by not only preparing for future climate regulations but going “Beyond Compliance”.
On joining the RE100 initiative, Dr. Raghupati Singhania, Chairman & Managing Director, JK Tyre, said, “Our decision to join RE100 represents our unwavering commitment to environmental responsibility. Under the motto “today for tomorrow,” we at JK Tyre believe that a sustainable future requires significant action today. As an environmentally conscious brand, energy efficiency and conservation remain at the top of our priority list. We take pride in joining world leaders in promoting this shift towards renewable energy and look forward to inspiring constructive change in the industry.”
Dr. Divya Sharma, India Executive Director, Climate Group said: “JK Tyre’s decision to procure 100% renewable electricity for their operations by 2050 is a milestone commitment. It shows that renewable electricity can indeed be considered for large scale, intensive manufacturing needs. We welcome them into the RE100 network and look forward to working with them – and to their progress.”
JK Tyre has been able to achieve positive sustainability results year-on-year. The company has set a primary objective to incrementally increase the utilisation of renewable energy by 2-5% annually and has consistently pursued the installation or procurement of green energy sources across its manufacturing facilities. Currently, 40% of the company’s energy consumption comes from renewable sources.
The company has also decreased its GHG Emission Intensity by 64% since base year 2013-14. JK Tyre has set a global benchmark in raw water usage at all its manufacturing facilities in India and has made them Zero Liquid Discharge, Zero-Waste-to-landfill as well as free of single-use plastic.
RE100 is a global initiative bringing together the world’s most influential businesses committed to 100% renewable electricity. Led by Climate Group, the initiative has over 400 of the world’s largest and most influential companies as members from diverse industries. RE100 was established in partnership with CDP.
