IndiaCSR News Network
NEW DELHI: Jindal Steel and Power Limited (JSPL), India’s leading steel and power company, today released the company’s first Business Sustainability Report for FY 2013-14; showcasing Innovation as the corner stone of Sustainable Business. The Global Reporting Initiative (GRI) confirms that JSPL’s Business Sustainability report is the first G4 report in the Metals sector in India. Ernst & Young LLP has also independently assured the report, establishing its merit.
GRI is the most widely respected sustainability reporting framework worldwide.
The report outlines JSPL’s efforts to integrate sustainable business solutions through catalysing innovation, infusing global talent at top management, maintaining robust internal processes through a system’s driven approach, and ensuring environmental security.
Naveen Jindal, Chairman, Jindal Steel and Power Ltd. said, “JSPL is committed to nation building and in the process has always stepped forward to nurture a sustainable business environment. We firmly believe in ensuring a holistic growth of the organisation with authenticity, and reaching out to a diverse group of stakeholders by reinvesting in avenues that will boost the future growth of JSPL and the society at large.”
It is important for the industries in steel and power sector to deploy environment management systems and make continuous efforts to reduce greenhouse gas emissions and air emissions. “JSPL has adopted state-of-the-art technology and world class practices to spearhead the environment security issue and safeguard future generations,” Jindal added.
Speaking on the occasion, Ravi Uppal, M.D. & Group CEO, JSPL said –“The business environment and regulations in which JSPL operates is changing and focusing on business sustainability ensures that we leapfrog on the opportunities that change always offers, and ensure that JSPL’s growth path remains holistic and indeed authentic.”
Milestones achieved by JSPL:
- Approximately 70% of JSPL’s waste gets reused in its production process
- All JSPL’s units in India are maintained as zero discharge units ensuring maximum possible utilization of waste water.
- Outstanding in-house innovations at JSPL include the 121 m long rail which is the world’s longest rail as well as the environment friendly Coal Gasification plant for DRI that is the first-of-its-kind in India
JSPL is agile and well placed to adapt to the changes in business environment thanks to JSPL’s strong balance sheet, proven track record of high utilization of capacities both in Steel and Power, and continued highest operational margins amongst peers both in India and globally.
JSPL has 1 university (OP Jindal Global University) in Sonipat; 1 Engineering college (OP Jindal Institute of Technology) at Raigarh; 1 training school (Jindal Institute of Power Technology) for Power Plant Professionals; 5 O.P. Jindal Community Colleges in Odisha, Chattisgarh and Jharkhand; 4 Industrial Training Institutes via a Public Private Partnership scheme with Government of India; JSPL also provides 332 community teachers to 160 Government children’s schools; children’s schools under the aegis of JSPL are at Raigarh, Tamnar, Nalwa, Angul and Patratu imparting education to 5500 students.
JSPL’s unique corporate brand rests on the 3 pillars of 1. Innovation, 2. Nation building 3. Social commitment.
- JSPL’s social commitment has benefitted 9 lakh people
- More than 42000 training hours for employees were clocked in during FY 2013-14
- JSPL has brought in the last years outstanding domain experts as well as young professionals such that overall 27% of JSPL today is less than 30 years of age.
JSPL’s Management style is focusing on a systems driven approach to build internally a robust organization that is successful also in the long term.
The company has ventured into backward areas and has developed them as islands of progress and development by investing into education, healthcare and clean environment initiatives like:
Infrastructure development (such as construction/ repair/ renovation of roads, community centres, rehabilitation and resettlement colonies, rural electrification and other rural infrastructure).
Support to educational institutions by providing teachers from community to government schools, teacher trainings, learning material, scholarships, and improving and upgrading school infrastructure, developing and supporting vocational training and skill development.
Environmental conservation programs (such as watershed development, ground water recharge, solar street lighting etc.)
Healthcare and population stabilization programmes involving organising health camps, setting up state-of-the-art healthcare centres and educating people as to the merits of population control.
Clean India campaign comprises water, hygiene and sanitation related programs such as providing clean drinking water facilities, construction/ renovation of toilets and sanitation facilities, and programs to maintain cleanliness and hygiene.
The report further details the company’s social commitment to go beyond the peripheries of its site locations. During the assessment year, JSPL had spent more than 4% of PAT towards social activities. As a responsible corporate, JSPL has also been making significant efforts to resolve issues of national and global significance.
The report also deep dives into five detailed case studies which showcase innovations within the company detailing JSPL’s socio-capitalist business model, concern about health and safety of local communities, educational initiatives, and world class SOPs being implemented in plants.
JSPL’s Business Sustainability Division, set-up in 2014, is uniquely placed as a central node coordinating with various departments that are related to the company’s business longevity. The Chief Sustainability Officer is also part of the CEO’s office for all business matters. In this way, JSPL has ensured business longevity as a priority embedded into the core of company’s business.
JSPL’s Business Sustainability Report can be downloaded from the following weblink: JSPL Business Sustainability Report 2013-14