By Lancelot Joseph. Executive Editor, Business India

JSPL believes that, as a steelmaker, it needs to play a larger role in addressing the sustainability challenges in transitioning India into a circular and low-carbon economy. Hence, the company plans to meet its environmental, social and governance (ESG) objectives.

With the rise in steel production, the steel industry would probably face environmental constraints. JSPL believes that steelmakers need to play a much larger role in addressing the sustainability challenges in transitioning India into a circular and low-carbon economy. “JSPL has always advocated sustainable development since its inception and is committed to improving its sustainability performance and making a difference in society,” says Sharma.

So, taking cognisance of these concerns, JSPL aims to incorporate sustainability into their businesses in a big way by strengthening the economic, social, environmental, human and governance pillars and mitigating its operations. An increased focus on just its steel business will boost the momentum for the company to achieve their ESG objectives and reduce carbon emissions substantially on full capacity utilisations.

For instance, at JSPL’s Angul site, the DRI-BF- electric arc furnace route has been adopted for manufacturing steel. To overcome the challenge of non-availability of natural gas, a coal to gas plant was set up. It uses high ash coal, available in the vicinity of the site, and converts it into synthetic gas or syngas. “It is the first plant of its kind in India and only the second in the world. The expenditure of setting up of the syngas plant was high and had a gestation period of three years.

However, this high investment is offset by the improved energy efficiency of the system, as compared to the conventional model of producing steel, and reduced environment impact in the long run. Another added advantage was the utilisation of waste. All seven by-products of the Syngas plant are recycled through internal use or sold to external parties. This ensures the health and safety of employees as well as local communities and environmental protection,” points out Sharma.

To add to that, JSPL is a signatory to the World Steel Sustainable Development Charter 2015 and is also a Climate Action member with the World Steel Association. “JSPL’s policies reflect the purpose and intent of the United Nation Global Compact, World Steel Sustainable Development Charter and the Global Reporting Initiative Standards. The company has also recognised climate change as one of the most pressing problems that is being felt across the globe,” says Sharma.