The company to invest INR 700 crores in various
sustainability projects aimed at reducing 1.5 million tonnes of carbon
emissions every year
Jindal Stainless Limited (JSL), India’s largest
stainless steel manufacturer, said it is set to achieve its mid-term target of
50% carbon emissions reduction well before the target year of 2035, as it
marked its presence at the prestigious United Nations Confederation of Parties
(COP) 28 climate summit for the first time.
The company was invited by the Ministry of Steel,
Government of India to showcase its decarbonisation initiatives at a side event
organised by the Ministry of Steel, Government of India at the India Pavilion
in Dubai. The Ministry of Environment Forest and Climate Change (MoEFCC) was
assigned as the nodal ministry for the event titled ‘Forging a carbon-free
future: The Indian Steel Sector’s Transition’ on Day 6. This coincided with the
thematic day of ‘Energy, Industry/ Just Transition/ Indigenous Peoples’ of the
global platform.
Managing Director, Mr Abhyuday Jindal said, “We are privileged to
have been invited by the Indian government for the COP28 event. We are proud of
our decarbonisation efforts, and an event of this stature is an opportune
moment to reaffirm our global commitments. We are investing INR 700 crores in
various sustainability projects aimed at reducing 1.5 million tonnes of carbon
emissions every year. We are helping in building a modern, sustainable world
with the best-in-class technology, innovation, investment in R&D in order
to meet the evolving customer requirements to offer high-class stainless steel
solutions.”
Chief Sustainability Officer Mr Kalyan
Bhattacherjee, while addressing the event, spoke about the company’s efforts in
establishing low carbon pathways as leading player in a hard to abate sector.
“We have undertaken several measures, including
internal improvements and tie-ups with external partners, to reduce our carbon
footprint. We’ve strategically aligned our decarbonisation initiatives to meet
the goal of Net Zero by 2050. We have also introduced digitalisation for
sustainability data management through a unique ESG digital platform, which
automatically collects production, energy, material consumption and carbon
emissions-related data directly from our ERP system SAP S4 HANA. This helps in
accuracy and transparency of GHG accounting and reporting. We are actively
addressing our Scope 3 environmental, social and governance (ESG) compliance
through Sustainable Procurement, Logistics Decarbonisation and circular economy,” Mr Bhattacherjee
said.