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New Delhi, December 28, 2023: Jindal Stainless, India’s largest stainless steel manufacturer will generate over 1.9 billion units of clean electricity per annum through its wind-solar hybrid, floating and roof-top solar plants, according to its newly released Sustainability Report. The initiatives have the potential to reduce carbon emissions by over 13.52 lakh tonnes per annum.
The company has already partnered with ReNew Power to deliver 100 megawatt (MW) round-the-clock (RTC) renewable energy. It is also in discussions to establish separate 100 MW RTC renewable energy projects at both its manufacturing units, in Jajpur and Hisar. This effort aims to achieve a combined capacity of 300 MW RE-RTC for both units.
Launching the Sustainability Report, Managing Director, Jindal Stainless, Mr Abhyuday Jindal said, “The Sustainability Report is a thorough representation of our relentless pursuit of excellence in environmental stewardship and social responsibility. The remarkable achievements in renewable energy initiatives are pivotal to our vision of a greener future. Our strides in R&D foster innovation that elevates industry standards and ensures our operations contribute positively to the planet and its people.”
Commenting on the occasion, Chief Sustainability Officer, Jindal Stainless, Mr Kalyan Bhattacherjee, said, “We are already on our digital transformation journey to strengthen our data management and monitoring by automation of Environmental, Social, and Governance data. At Jindal Stainless, our commitment towards the environment and responsible business practices is a cornerstone of our values and business strategy. We are building a legacy of sustainability that transcends business objectives, embedding ecological consciousness into the core of our operations.”
The report reflects Jindal Stainless’ dedication to sustainable practices, including a vision for net zero emissions by 2050, upholding zero liquid discharge, and utilizing the recycled material. PwC assisted Jindal Stainless in preparing the Sustainability Report FY 2022-23 under Global Reporting Initiative (GRI) standards, which has been independently verified by the third-party assurance provider, TÜV SÜD South Asia Pvt. Ltd.
Breakthroughs in R&D in the Sustainability Report:
Jindal Stainless has been at the forefront of stainless steel innovation, developing specialized grades like the IRS 350CR, which played a key role in constructing India’s first stainless steel pedestrian bridge at Naupada Junction in Maharashtra. This alloy stands out for its durability and maintenance-free characteristics, even in the harshest environments, making it ideal for coastal infrastructure prone to corrosion. Furthermore, the company’s R&D has led to the creation of stainless steel that withstands extreme conditions, such as the high-aluminum ferritic variant and the robust austenitic stainless steel EQ 317L, both of which are tailored for high-performance applications like automotive parts and industrial equipment. These advancements are transforming the industry, setting new standards for quality and sustainability.
The company has transformed its operational capabilities with innovative approaches and an expanded product range. From a wide array of flat products to long products, including unique offerings like razor blade cold-rolled strips and coin blanks, Jindal Stainless showcases its technological prowess and industry leadership. Embracing a circular economy, Jindal Stainless’ product stewardship strategy focuses on reducing environmental impact using recyclable materials. The company’s adherence to robotic process automation and industry 4.0 principles enhances operational efficiency, decreases emissions and bolsters both environmental and social performance.
Additionally, Jindal Stainless is set to achieve its mid-term target of 50% carbon emissions reduction well before the target year of 2035, as it marked its presence at the prestigious United Nations Confederation of Parties (COP) 28 climate summit for the first time.
The Sustainability Report can be accessed here.