NEW DELHI: Jindal Steel & Power Ltd (JSPL), leading private sector play in steel and power, has released its 3rd annual Business Sustainability Report highlighting progress made in 2015-16 against the initiative completed in a year fraught with extreme challenges.
Report is authored in conformance with the latest Generation 4 set of Global Reporting Initiative (RGI) guidelines on sustainability reporting. This report has also mapped to the National Voluntary Guidelines issued by Ministry of Corporate Affairs, Govt. of India. First time, JSPL has also disclosed 11 aspects information based on Materiality Assessment conducted in-house. Report is also followed the 17 Sustainable Development Goals (DGDs) that were introduced on 25 December 2015 by United Nations.
“This is an important report that summarises the slew of positive changes we made during the year, by following the tenets of financial prudence, operational excellence and enhancing capacity utilization for the company, thereby creating long-term value for all our stakeholders.”, in the report said, Ravi Uppal, MD & Group CEO.
“An important consequence of this has been that JSPL stands stronger and more united as and organization today as we work to overcome unprecedented challenges. And the 3rd edition of JSPL’s Business Sustainability Report tells this extraordinary story of resilience.”, said Miniya, Chief Sustainability Officer.
JSPL has created two new departments, the Energy Efficiency Department and Compliance and Risk Management Department.
Ensuring 100% Compliance
Ensuring 100% compliance is the priority of company. As a strong step towards progress on this priority as mentioned in the report, in June 2015 it established a well-endowed Compliance and Risk Management Department. At all works sites in India officers were appointed internally. Chief Sustainability Officer and Compliance & Risk Management coordinator together prepared formats for conducting hard copy compliance checks across sites, overhauled an online compliance tool iComply so as to ensure transparency, and constituted a common risk assessment methodology for the company.
Energy Conservation
Energy conservation was also the priority matter for the year. It has established group level Energy Conservation Department because the challenges related to energy management at various sites were inter-related to each other. The accredited energy auditor of Bureau of Energy Efficiency (BEE) was invited during the end of 2015 to conduct an independent audit, and provide JSPL with a roadmap of projects to implement. Based on the audit, the enegery saving target announced on March 31, 2016 for particular designated consumer sites at JSPL Tamnar, JSPL Raigarh and Nalwa Steel & Power.
Raw Material Security
It has been a milestone year for raw material procurement strategy of the company. JSPL reorganized itself from its backward integrated business model. External sources for coal were identified and procured from. A new company Jindal Transfreight is created to ensure smooth logistic.
About the author:
Rusen Kumar – Author is editor at India CSR
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