JK Tyre & Industries, India's leading tyre manufacturer, has reaffirmed its commitment to sustainability by joining RE100 and pledging to use 100 per cent renewable electricity by 2050.
JK Tyre is the first Indian tyre manufacturer and the 16th Indian business to join RE100. To stay on course, the company has set a mid-term goal (by FY30) to reduce its greenhouse gas (GHG) emission intensity by 50 per cent 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 also going "Beyond Compliance."
On joining the RE100 initiative, Dr. Raghupati Singhania, Chairman & Managing Director of 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 of Climate Group, said: "JK Tyre's decision to procure 100 per cent 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 supporting their progress."
JK Tyre has achieved positive sustainability results year on year. The company has set a primary objective to incrementally increase the utilisation of renewable energy by 2-5 per cent annually and has consistently pursued the installation or procurement of green energy sources across its manufacturing facilities. Currently, 40 per cent of the company's energy consumption comes from renewable sources.
The company has also reduced its GHG emission intensity by 64 per cent since the base year of 2013-14. JK Tyre has set a global benchmark in raw water usage across all its manufacturing facilities in India, which have achieved Zero Liquid Discharge, Zero Waste-to-Landfill status, and are free of single-use plastics.
RE100 is a global initiative bringing together the world's most influential businesses committed to 100 per cent renewable electricity. Led by the 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.