Jindal Stainless, India’s leading stainless steel manufacturer, has announced its commitment to set near-term science-based emissions reduction targets and achieve Net Zero by 2050, as outlined by the Science-Based Targets initiative (SBTi). This pledge marks a pivotal step in the company’s strategy towards carbon neutrality, positioning Jindal Stainless as the largest entity in its sector within India to align with SBTi’s rigorous environmental goals.
Mr. Abhyuday Jindal, Managing Director of Jindal Stainless, emphasized the significance of this commitment in transitioning to a low-carbon economy. He highlighted that the process involves developing ambitious, scientifically-driven emissions reduction targets to considerably lessen the company’s carbon footprint and drive industry-wide positive change.
According to Mr. Kalyan Bhattacherjee, Chief Sustainability Officer, the development of these targets will entail a thorough assessment of the company’s greenhouse gas emissions across all operations and the entire value chain. The aim is to align with the most recent climate science required to meet the Paris Agreement goals—limiting global warming to 1.5°C above pre-industrial levels—within the next 24 months, followed by validation from SBTi.
In recent efforts to decarbonize, Jindal Stainless has established a green hydrogen plant and contracted a 300 MW wind-solar hybrid renewable energy project. These initiatives are expected to generate over 1.9 billion units of clean electricity annually, potentially reducing carbon emissions by more than 13.52 lakh tonnes per year. The company also participated in the COP28 climate summit, announcing its progress towards a 50% reduction in carbon emissions by 2035 and its ultimate goal of achieving Net Zero emissions by 2050.
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