Jindal Stainless reduced 1.4 lakh tonnes of CO2 emissions in FY22, says MD

The country's largest stainless steel maker Jindal Stainless took various initiatives to reduce 1.4 lakh tonnes (LT) of carbon emissions in the last financial year, its Managing Director Abhyuday Jindal said on Monday.

The company aims to be carbon neutral by 2050.

To achieve the goal, JSL has also created a position of Chief Sustainability Officer (CSO) and appointed Kalyan Kumar Bhattacherjee to the key post, Jindal said in a company statement.

"We reduced 1.4 LT CO2 in FY22 through various initiatives. From investing in Renewable Energy, Green Hydrogen production to introducing EVs at our manufacturing plants, we are continuously building an ecosystem that supports our environmental, social, and governance goals (ESGs)," he said.

Bhattacherjee will be responsible for leading sustainability initiatives, reducing carbon emissions for the company's current and future capacity expansion plans with the goal to achieve the net-zero target by 2050, JSL said.

Bhattacherjee said JSL is India's first stainless steel company to install a Green Hydrogen Plant to manufacture stainless steel.

"We are continuously investing in low Carbon technologies, recycling process, digitalization and process upgradation for energy efficiency projects," he said.

As part of the carbon reduction plan, JSL recently signed an agreement with RenNew Power to develop a utility-scale captive renewable energy project in Jajpur. This project will generate 700 million units of clean energy per year using a combination of solar and wind power-generation technologies.

Jindal Stainless also partnered with Hygenco India Private Ltd to build a Green Hydrogen Plant in Hisar that will help in CO2 reduction significantly.