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Home Corporate Social Responsibility

Steel Industry Targets Net Zero Carbon Emissions by 2047: Naveen Jindal

Industry Leaders Push for Decarbonisation Amidst Climate Change Efforts

India CSR by India CSR
September 4, 2024
in Corporate Social Responsibility
Reading Time: 2 mins read
"In FY 2023-24, our Company reported a strong gross revenue of Rs. 58,115 crore and net revenue of J50,183 crore. Our adjusted EBITDA for the year is Rs. 10,231 crore, demonstrating a strong performance.", Naveen Jindal, Chairman of JSPL said.

Naveen Jindal Chairman Jindal Steel and Power Limited India CSR

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In a bold move towards sustainability, the steel industry is setting ambitious goals to achieve net zero carbon emissions by 2047, according to Jindal Steel Chairman, Naveen Jindal. Speaking at the ISA Steel Conclave, Jindal emphasized the steel sector’s crucial role in India’s climate commitments, aligning with the nation’s goal to achieve net zero emissions by 2070.

Steel Industry’s Decarbonisation Vision

The steel industry is at the forefront of India’s decarbonisation efforts. Jindal highlighted that the Ministry of Steel has taken proactive measures, including the formation of task forces aimed at reducing the environmental footprint of steel production. These initiatives are designed to tackle the significant challenge of decarbonising one of the most carbon-intensive industries.

“Decarbonising the steel industry is a complex challenge,” Jindal stated, “but it is achievable through collective efforts and industry collaboration.”

Collective Action Towards Climate Goals

Jindal reiterated the importance of industry-wide cooperation to meet the ambitious goals set by the government. He stressed that while promoting the use of steel remains essential for infrastructure development, tackling climate change must go hand-in-hand with growth. He also pointed to Prime Minister Narendra Modi’s commitment to reducing India’s carbon footprint, reinforcing the government’s serious approach to environmental sustainability.

“The path to decarbonisation is not easy, but with our combined efforts, the steel industry is poised to lead the way in reducing emissions, ensuring a sustainable future for generations to come,” Jindal concluded.

A Long-Term Strategy for a Greener Future

As the steel industry plays a pivotal role in India’s industrial landscape, achieving net zero emissions will require innovative technologies, strong policy support, and ongoing collaboration between public and private sectors. Jindal’s statements reflect the industry’s determination to not only meet environmental goals but to pioneer the transition towards a low-carbon economy.

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India CSR is the largest media on CSR and sustainability offering diverse content across multisectoral issues on business responsibility. It covers Sustainable Development, Corporate Social Responsibility (CSR), Sustainability, and related issues in India. Founded in 2009, the organisation aspires to become a globally admired media that offers valuable information to its readers through responsible reporting.

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