JSW Steel Joins UN Global Compact Initiative for Sustainability
JSW Steel, the flagship company of the $22 billion JSW Group, recently announced that it had joined as the latest member of the United Nations Global Compact (UNGC) network, the world's largest voluntary corporate sustainability initiative.
According to a regulatory filing, JSW Steel is the fifth Indian company in the "Industrial Mining and Manufacturing" category to join the UN Global Compact initiative. JSW Steel is one of the thousands of companies worldwide that have joined this network to develop sustainable business practices.
Seshagiri Rao, joint MD, JSW Steel & Group CFO, said:
"We are happy to get associated with the United Nations Global Compact in an endeavour to further expedite our sustainability efforts.
"A majority of JSW’s strategic focus areas and organisational goals have been formulated to align with the UN SDGs (Sustainable Development Goals). With this formal membership, we intend to continue executing operations and practices sustainably that harmonise with these objectives and to participate in global efforts toward a just and sustainable future."
The UN Global Compact encourages companies to conduct business responsibly by aligning their operations and strategy with the UN's Ten Principles. Furthermore, it binds them to act in support of societal advancements under the UN SDGs.
The UN Global Compact, which includes over 20,000 companies from 160 countries and 69 local networks, holds participants to the highest sustainability standards. The JSW Foundation, the social arm of the JSW Group, is already a member of UNGC and a part of the UNGC local network in India.
Source: Money Control