Marking its presence at the United Nations Confederation of Parties climate summit (COP28) for the first time, the company showcased its decarbonisation initiatives at a side event organised by the Indian steel ministry at the India Pavilion
Jindal Stainless Ltd. (JSL) is on track to surpass its mid-term target of a 50 percent reduction in carbon emissions by 2035, according to Managing Director Abhyuday Jindal.
The company is making substantial investments of Rs 700 crore in sustainability projects aimed at reducing 1.5 million tonnes of carbon emissions annually. JSL's commitment to sustainability was showcased at the United Nations Confederation of Parties climate summit (COP28), where the company participated in a side event organised by the Indian steel ministry at the India Pavilion.
Kalyan Bhattacherjee, Chief Sustainability Officer at JSL, highlighted the company's efforts to establish low-carbon pathways in a challenging sector. Jindal Stainless aims to achieve a 50 percent reduction in emission intensity by 2035, aligning with India's Nationally Determined Contribution (NDC) to reduce emissions intensity in its GDP by 45 percent by 2030.
The company is also working towards a 300 MW combined Renewable Energy - Round-the-Clock (RE-RTC) capacity by 2026–27, contributing to India's NDC of achieving 50 percent cumulative electric power installed capacity from renewable sources by 2030.
To enhance sustainability data management, JSL has introduced digitalisation through a unique Environmental, Social, and Governance (ESG) digital platform. This platform automates the collection of production, energy, material consumption, and carbon emissions-related data directly from the ERP system SAP S4 HANA.
Additionally, JSL has signed a Memorandum of Understanding (MoU) with Renew Power for a 100 MW wind-solar hybrid Renewable Energy Round-the-Clock (RTC) project, scheduled for commissioning in 2024. Other Renewable Energy RTC projects in progress are expected to help the company achieve an overall capacity of 300 MW of hybrid Renewable Energy.
These initiatives, coupled with a green hydrogen plant, are anticipated to be instrumental in achieving mid-term targets, marking a significant stride towards the company's goal of Net Zero by 2050. JSL's proactive approach to sustainable practises showcases its commitment to environmental responsibility and aligns with global efforts to combat climate change.