India, 12th October 2022: BNY Mellon, a global financial institution delivering pioneering financial services to its clients, today announced a pilot project towards decarbonising its road fleet in India as part of its ongoing efforts to maintain carbon neutrality globally.
In the first phase of the project, BNY Mellon will be unveiling a fleet of 20 electric vehicles on its company premises in Pune on a pilot basis, which will eventually replace a large part of the current diesel-powered fleet across India. These MPV style cars have a range of 500km on a single charge and will primarily be used as part of BNY Mellon’s Employee Transportation program in Pune & Chennai.
Sudish Panicker, Managing Director and Head, BNY Mellon Operations, India, noted, “The impending impact of climate change requires that every institution implement long-term thinking and grow responsibly. We believe the strength of our client solutions is underpinned by our own actions and behaviour as an enterprise, and such an initiative advances our ESG efforts.”
The project is in line with BNY Mellon’s ESG practices and conducted under its Future First ESG framework, demonstrating the firm’s commitment to the efficient use of natural resources, mitigating climate-related risks, and leveraging innovative energy solutions. The project will further instill a sense of responsibility amongst its employees to take a constructive step at a personal level to build a sustainable future for upcoming generations.
Nitin Chandel, Managing Director, and Head, BNY Mellon Technology, India, said, “We are continuously looking to implement sustainable solutions across the value chain. Our intention is to electrify our entire corporate fleet by the end of 2025. The launch of this EV facility for our employees represents BNY Mellon’s vision to convert ‘Smart Pune’ into ‘Sustainable Pune’ and help the city in combating climate change and reduce pollution.”
This first set of electric vehicles is likely to make 30000 trips and is expected to save over 99,000 kgs of carbon emissions annually.
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About BNY Mellon
BNY Mellon is a global investments company dedicated to helping its clients manage and service their financial assets throughout the investment lifecycle. Whether providing financial services for institutions, corporations or individual investors, BNY Mellon delivers informed investment and wealth management and investment services in 35 countries. As of June 30, 2022, BNY Mellon had $43.0 trillion in assets under custody and/or administration, and $1.9 trillion in assets under management. BNY Mellon can act as a single point of contact for clients looking to create, trade, hold, manage, service, distribute or restructure investments. BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation (NYSE: BK). Additional information is available on www.bnymellon.com. Follow us on Twitter @BNYMellon or visit our newsroom at www.bnymellon.com/newsroom for the latest company news.