JSW Steel Joins ResponsibleSteel
JSW Steel, one of India’s leading steel manufacturers, has today joined ResponsibleSteel, the only global multi-stakeholder standard and certification initiative for responsibly sourced and produced steel.
JSW Steel is the flagship business of the diversified, US$ 22 billion JSW Group, which is expanding across markets with innovation, digitalization, and sustainability as its key anchors. With efficient integrated operations and a clear vision for the future, JSW is executing its strategic growth plan in line with the growing steel demand.
Annie Heaton, ResponsibleSteel’s CEO, commented, “We are delighted that JSW has joined ResponsibleSteel as a member and very much welcome the commitment to sustainability standards this represents. It is another great example of leadership in the steel industry, and particularly important to see this in India given its role in driving decarbonisation both at home and globally. By joining us, JSW is committing to achieving certification against the ResponsibleSteel International Standard, which in the world of decarbonisation and ESG has no equal. Certification of a steelmaking site requires hard work across the board to integrate not only decarbonisation plans into the site’s strategy but all material environmental and social improvements, which means investment and technological know-how plus a strong commitment from the company’s management and its employees. We look forward to working with JSW as they move forward on their journey of decarbonisation and sustainable development.”
Over the last three decades, JSW Steel has grown from a single manufacturing unit to become India’s leading integrated steel company with a capacity of 28.5 MTPA in India and the USA (including capacities under joint control). Its next phase of growth in India will take its total capacity to 38.5 MTPA by FY25. The Company’s manufacturing unit in Vijayanagar, Karnataka is the largest single-location steel-producing facility in India with a capacity of 12 MTPA. JSW Steel has always been at the forefront of research and innovation. It has a strategic collaboration with global leader JFE Steel of Japan, enabling JSW to access new and state-of-the-art technologies to produce and offer high-value special steel products to its customers. These products are extensively used across industries and applications including construction, infrastructure, automobile, electrical applications, and appliances.
Seshagiri Rao, JMD & Group CFO stated, “The move to join ResponsibleSteel is to collaborate and work with other businesses in creating values, tools, and policies, to accelerate the growth of the steel industry in a sustainable manner and enhance sustainability within our supply chain, so that customers are confident that the steel they use has been sourced and produced responsibly at every stage.”
He continued, “At JSW we understand our responsibility towards making our planet better and are happy to join ResponsibleSteel to demonstrate our commitment through participating in the international certification programme.”
JSW Steel has set ambitious sustainability targets including reducing its specific CO2 emissions by 42% by FY2030 from 2005, aligning its target with the Sustainable Development Scenario (SDS) of the International Energy Agency (IEA) and India’s Nationally Determined Contributions.
Read the full press release here.
