- signs MoU with SMS group for Carbon reduction projects investing Rs 10,000 crore to reduce carbon emissions
JSW Steel, the flagship company of the $22 billion JSW Group, today forged a collaboration with German-based engineering and technology company SMS group to explore mul tiple cutting-edge solutions and R&D projects to reduce carbon emission in its iron and steelmaking operations in India.
The collaboration will enable the companies to explore opportunities together to reduce carbon emissions and produce green steel in one of the hard-to-abate sectors.
A Memorandum of Understanding (MoU) between JSW Steel and SMS group GmbH, has been signed on Tuesday in Mumbai for exploring solutions for implementation of the decarbonisation projects across various JSW Steel plants in India.
To achieve the task of decarbonisation at various JSW Steel plants, the SMS group, the leading partner with the world use their expertise and experience in metallurgy, industrial processes and digitalisation, shall provide its technology experts design, engineering consultancy and commissioning for executing various projects.
JSW Steel shall make available at its plants all the support to SMS group like raw materials, consumables and manpower for exploring solutions for implementation of general decarbonisation projects.
Sajjan Jindal, Chairman & MD, JSW Steel said, “While the steel Industry accounts for 0.7% of the world’s economic output, the industry also contributes 7% towards global emissions. We need a new transformative approach focused on green steel vision. With our technology partner SMS group, we are on our way to turning metals green in the world.”
“We are also committed to build and continually upgrade all our plants with latest available technologies to ensure safe, secure and healthy future for all our stakeholders/ communities. Achieving net zero in steel industry will require major upgrades and capital investments at the steel mills and the initiative will have to be taken at the industry as well as policy level,” Mr Jindal added.
Burkhard Dahmen, Chairman of the Managing Board & CEO, SMS group said, “Our knowhow and experience in metallurgy combined with our digital expertise and plant technology consultancy enable SMS group and JSW Steel to create a greener metals industry.”
JSW Steel is India’s leading and one of the world’s most efficient integrated steelmakers and is investing Rs. 10,000 crores to reduce carbon emissions from steel manufacturing, it targets to bring down GHG emissions by 42% (from the base year 2005 levels) to <1.95 tonnes of CO2 per tonne of crude steel (tcs) by 2030. JSW Steel will focus on replacing thermal power with renewable power, higher usage of steel scrap in its operations, and increasing the beneficiation of low and medium-grade iron ore.
The company has set a target of achieving specific water consumption (in steel production) of 2.21m3/ tcs by 2030. Currently, all the facilities follow Zero Liquid Discharge principles. The major steel-producing facilities of JSW Steel operate in water-stressed regions, and thus the Company consistently introduces process improvements to ensure better water conservation and harvesting.
JSW Steel is widely recognized for its excellence in business and sustainability practices. Some of these recognitions include World Steel Association’s Steel Sustainability Champion (consecutively from 2019 to 2022), Leadership Rating (A-) in CDP (2020 & 2021), Deming Prize for TQM for its facilities at Vijayanagar (2018), and Salem (2019). It is part of the S&P Dow Jones Sustainability Index (DJSI) for Emerging Markets (2021) and S&P Global’s Sustainability Yearbook (consecutively for 2020 and 2021). JSW Steel is the only Indian company to be ranked among the top 15 global steel producers by World Steel Dynamics for 13 consecutive years since 2008. As a responsible corporate citizen, JSW Steel’s carbon reduction goals are aligned with India’s Climate Change commitments under the Paris Accord.
