Jindal Stainless, India’s largest stainless steel manufacturer, announced, on April 16, 2024, its official commitment to the near-term science-based emissions reduction and net-zero targets outlined by global climate action body, Science-Based Targets initiative, in a significant step towards achieving carbon neutrality. This makes the company the largest player in the stainless steel and steel sector in the country to express such intent.
Jindal Stainless has taken several steps in its decarbonisation strategy in recent months. From establishing a green hydrogen plant to entering into a contract for 300 MW of wind-solar hybrid renewable energy projects, the company has strategically aligned its efforts towards decarbonisation, with the aim of achieving net-zero emissions by 2050. At the prestigious COP28 climate summit, the company said that it is set to achieve its mid-term target of 50 per cent carbon emissions reduction well before the target year of 2035, and net zero by 2050. It also plans to generate over 1.9 billion units of clean electricity per annum through initiatives that have the potential to reduce carbon emissions by over 1.352 million tonnes per annum.
By committing to a net zero target, the company has also become part of the Race to Zero campaign – the UN-backed global campaign to rally leadership from non-state actors such as companies, cities and regions; and financial, educational and healthcare institutions for healthy and resilient zero carbon recovery.