Jindal Stainless aims to cut emissions by 50% ‘way ahead’ of 2035 target

Jindal Stainless aims to reduce carbon emissions by 50 per cent “way ahead” of its targeted year of 2035 on the back of various sustainability projects, said India’s largest stainless steel company on Friday.

The company will invest Rs 700 crore in projects that will save 1.5 million tonnes of emissions annually. The company marked its presence at the United Nations Confederation of Parties (COP) 28 climate summit in Dubai for the first time, presenting its decarbonisation initiatives at a side event organised by the steel ministry at the India Pavilion in Dubai.

“We are privileged to have been invited by the Indian government for the COP28 event,” said Abhyuday Jindal, managing director of Jindal Stainless.

“We are investing Rs 700 crore in various sustainability projects aimed at reducing 1.5 million tonnes of carbon emissions every year. We are helping in building a modern, sustainable world with the best-in-class technology, innovation, investment in R&D [research and development] in order to meet the evolving customer requirements to offer high-class stainless steel solutions,” he said.

Kalyan Bhattacherjee, chief sustainability officer of Jindal Stainless, said that the company has set a mid-term target that by 2035 it would achieve 50 per cent reduction of emissions from the baseline year 2021-2022.

“But with the kind of levers we are putting in decarbonisation, it will take us way ahead before 2035,” he said.

The company aims to be net zero by 2050. “We have undertaken several measures, including internal improvements and tie-ups with external partners, to reduce our carbon footprint. We have strategically aligned our decarbonisation initiatives to meet the goal of Net Zero by 2050,” said Bhattacherjee.

The company was addressing Scope 3 environmental, social and governance (ESG) compliance through sustainable procurement, logistics decarbonisation, and circular economy,” he said.