Dubai: Jindal Stainless Ltd (JSL) is set to achieve its mid-term target of 50 percent carbon emissions reduction well before the target year of 2035, a company official said. JSL Managing Director Abhyuday Jindal said the company is investing Rs 700 crore in various sustainability projects aimed at reducing 1.5 million tonnes of carbon emissions every year.
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 here.
JSL Chief Sustainability Officer Kalyan Bhattacherjee spoke about the company's efforts in establishing low carbon pathways as a leading player in a hard-to-abate sector. Jindal Stainless has committed to reducing 50 percent of its emission intensity by 2035 aligning with India's Nationally Determined Contribution (NDC) of reducing emissions intensity of its GDP by 45 percent by 2030.
"We are also underway to achieve a 300 MW combined RE-RTC capacity by 2026-27 contributing towards India's NDC of achieving 50 percent cumulative electric power installed capacity from renewable energy resources by 2030," Bhattacherjee told PTI.
"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.".
The company has 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 the ERP system SAP S4 HANA.
The company signed an MoU with Renew Power for a 100 megawatt (MW) wind-solar hybrid renewable energy (RE) round-the-clock (RTC) project, due for commissioning in 2024. Other RE RTC projects underway will help the company achieve an overall capacity of 300 MW hybrid RE..
These projects along with the green hydrogen plant will be game-changing in achieving the mid-term targets as the level of carbon emissions will begin to decline once the projects are integrated.