Jindal Stainless to Shore Up Net Zero Goals with $7B
Jindal Stainless Ltd
The company will increase investments in renewable energy and climate technologies.
It has conducted natural risk assessments at its key production sites in Jaipur, Hisar, and Vizag in India.
India's top stainless steel manufacturer, Jindal Stainless (JSL), has announced that it will invest $7 billion (Rs 700 crore in Indian rupees) over the next five years in decarbonisation projects.
JSL's goal is to reach net-zero emissions targets by 2050, and to achieve this, the company will focus on renewable energy, green hydrogen, carbon capture technologies, biodiversity conservation, and waste management. This method, according to JSL, will reduce its environmental impact and assure long-term financial stability.
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The central focus will be reducing greenhouse gas (GHG) emissions and carbon intensity by 50% by FY35. The company also believes that eco-friendly practices at its facilities will support sustainability goals and provide environmental and economic benefits.
Its task force for nature-related financial disclosures (TNFD) team will evaluate and analyse nature-related risks and opportunities using a framework that focuses on four pillars: governance, strategy, risk management, and impact assessment. This approach will help the steel producer monitor sustainable progress and swimmingly integrate environmental responsibility into its business operations.
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The company highlighted sustainable investments in renewable energy, green hydrogen, and recycling technologies in its latest ESG report. It has carried out natural risk assessments at its key production sites in Jaipur, Hisar, and Vizag and also developed Biodiversity Management Plans (BMPs).
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