Jindal Stainless commits to science-based emissions targets, aiming for carbon neutrality
In a landmark move for the industry, Jindal Stainless, India’s leading stainless steel manufacturer, has officially announced its commitment to achieving near-term science-based emissions reduction and Net Zero targets as stipulated by the global climate action body, the Science-Based Targets initiative (SBTi). This pledge positions Jindal Stainless as the largest entity in the country’s stainless steel and broader steel sector to take such a significant step toward carbon neutrality.
The announcement was made by Mr. Abhyuday Jindal, Managing Director of Jindal Stainless, who emphasized the importance of this commitment as a cornerstone in the company’s strategy to transition to a low-carbon economy. “This commitment marks the beginning of a rigorous process to develop ambitious, science-driven emissions reduction targets,” stated Mr. Jindal. He highlighted that aligning with the SBTi’s rigorous standards is a strategic move to significantly cut the company’s carbon footprint and set a precedent within the industry.
Jindal Stainless’s path to these ambitious goals involves a detailed assessment of the company’s Greenhouse Gas (GHG) inventory across its operations and the entire value chain. Chief Sustainability Officer, Mr. Kalyan Bhattacherjee, noted, “Over the next 24 months, we aim to develop and get validated the Science Based Targets (SBTs) necessary to meet the goals of the Paris Agreement — limiting global warming to 1.5°C above pre-industrial levels.”
In recent months, Jindal Stainless has initiated several projects to bolster its decarbonization strategy. These include the establishment of a green hydrogen plant and entering into a contract for a 300 MW wind-solar hybrid renewable energy project. These efforts are in line with the company’s goal to achieve a 50% reduction in carbon emissions by 2035 and ultimately reach Net Zero by 2050. At the recent COP28 climate summit, the company showcased its progress, affirming its commitment to generating over 1.9 billion units of clean electricity annually, which will significantly reduce carbon emissions.
By aligning with the Race to Zero campaign, an UN-backed global initiative, Jindal Stainless is not just making strides internally but is also influencing broader industry and global practices towards a sustainable and resilient zero-carbon future. The SBTi, a collaborative effort of CDP, the United Nations Global Compact, World Resources Institute (WRI), and the World Wide Fund for Nature (WWF), provides a robust framework for companies like Jindal Stainless to set scientifically aligned emissions targets, showcasing a committed pathway towards combating climate change.
Jindal Stainless’s proactive stance in adopting science-based targets for emissions reduction is a significant development in the industrial sector’s response to climate change. It reflects a growing trend among major corporations to integrate sustainable practices into their business models, driven by both environmental considerations and increasing regulatory expectations. The company’s efforts to not only set but also achieve ambitious environmental targets could serve as a blueprint for other firms in the steel industry and beyond, illustrating the practical steps and commitments needed to make a tangible impact on global carbon emissions reductions.
As Jindal Stainless leads the way with its firm commitment to science-based climate goals, the implications for the steel industry and corporate responsibility towards the environment are profound. This commitment is a promising step forward in the global fight against climate change, highlighting the role of corporate leadership in achieving significant environmental benchmarks.