Jindal Stainless Limited (JSL) on Monday said it has partnered with EY India to carve out a roadmap to meet its sustainability goals.
In a statement, the company said it is making efforts to decarbonise and reduce carbon emissions significantly for its present and future capacity expansion plans.
It has “partnered with EY India to solidify ESG (Environmental, Social and Governance) goals. In the next 6 months, Jindal Stainless and EY will work seamlessly to carve out a strategic roadmap for achieving decarbonisation, evaluate continuous upgrades and retro?ts, adopt clean technologies strategy, improve ESG performance, embrace digitalisation of business process, initiate GHG accounting, etc.” it said.
During FY22, Jindal Stainless said it reduced its carbon emissions by 3,100 metric tonnes and initiated a switch from a thermal energy-intensive manufacturing setup to renewable energy alternatives such as solar and wind power. Green hydrogen and usages of bio-fuels is also a part of its decarbonisation initiatives, the company said.
Jindal Stainless has a stainless steel melting capacity of 1.9 million metric tonnes (MMT) at its Hisar and Jajpur manufacturing facilities. The company has planned a capacity expansion at its Jajpur facility by FY23 and take the total melting capacity to 2.9 MMT.
Abhyuday Jindal, MD, JSL, said: “We firmly believe that efficient and immediate efforts towards sustainability, social upliftment, good governance, decarbonisation, waste management, and digital prowess are inevitable to build long-term value for all our stakeholders and achieve a circular economy.” Rajiv Memani, Chairman & CEO, EY India, said: “Reducing carbon emissions and the energy consumed in stainless steel production requires a well-planned, stage-gated roadmap.
We are honoured to work with Jindal Stainless, who have taken a pioneering step towards a comprehensive strategy of adopting ESG in their entire value chain that will reap benefits beyond compliance to build a future-focused and a sustainable enterprise.”