JSW Steel Committed Major Investment to Reduce Carbon Footprint

SEATTLE (Scrap Monster): Leading steelmaker JSW Steel announced that it has decided to invest big in reducing its overall carbon footprint. The company has set aside INR 10,000 crore, which will be spent on various green initiatives, including efforts to boost the use of renewable energy in replacement of thermal power.

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According to Sajjan Jindal, Chairman, JSW Steel, the proposed investment will fund various initiatives aimed at reducing its carbon emissions. Apart from replacing thermal energy, the company will focus on reducing its fuel rate through improved raw material quality via beneficiation and deployment of best available technologies in steelmaking process so as to reduce associated carbon dioxide emissions.

It must be noted that the steelmaker has already committed to reduce its carbon emissions intensity by 42% by 2030, upon comparison with 2005.

JSW Steel has already signed contract for 1 GW of renewable energy, out of which approximately 225 MW has already become operational as of April this year. The balance is expected to come online in phases. The ongoing expansion project at its Vijayanagar plant too focuses on use of renewable power to produce more volumes of steel.

As per estimates, the iron and steel industry in India accounts for 12% of the total carbon dioxide emissions in the country.