Sustainability at JSPL

 

As one of the leading economies of the world, India is expected to grow at a significant pace in the coming years, and the steel and power sector will play a pivotal role in India’s growth story. With the rise in production, the industries would also face severe environmental and societal constraints. Businesses would, thus, need to play a much larger role in addressing the sustainability challenges in transitioning India into a circular and low-carbon economy.

JSPL has been an ardent advocate and practitioner of sustainable development since its inception and is whole-heartedly committed to improving its sustainability performance and making a positive difference in the society. We aim to incorporate sustainability into our businesses by strengthening our economic, social, environmental, human and governance pillars and mitigating the impact of our operations.

JSPL is a signatory to the World Steel Sustainable Development Charter, 2015 and is also a Climate Action member with the World Steel Association. Our policies reflect the purpose and intent of United Nation Global Compact, World Steel Sustainable Development Charter and the Global Reporting Initiative Standards. We have recognised climate change as one of the most pressing problems that is being felt across the globe. We are striving hard to avoid and manage climate-related risks and reduce our carbon emissions. We have implemented some of the most innovative technologies and best practices at our plants to address the various environmental issues and reduce our overall carbon footprint.

Through our various initiatives, approaches and products, we are committed to achieve the United Nations Sustainable Development Goals. We strive to build a strong and lasting relationship with our stakeholders, make investments to mitigate the effects that our operations have on the environment and incorporate transparency and accountability into our management policies and decisions.

At the heart of our sustainability strategy lies our valuable employees and their safety. We have placed the utmost importance for the safety and well-being of our people. We are committed to carry out all our operations free from workplace hazards and occupational illnesses. We strive hard to implement world-class Global OHS Safety Standards, which provide a central framework for unit-specific safety management manuals, systems and procedures for all our stakeholders and employees.

The approach towards a sustainable growth is ingrained with our belief and ability to deliver long-term value to all our stakeholders, with an oversight at the Board level. We have, thus, set up a Health, Safety, CSR and Environment (HSCE) Committee, which meets once every quarter to address and assess the social and environmental performance of our Company. It promotes and supports the sustainable development of our businesses in the communities and countries we operate in.

Embedding sustainability practices into our work, our people, the communities that we are a part of, in addition to our esteemed stakeholders would help us to carve out a sustainable path with defined actions and goals, that will contribute to a greener and cleaner future and a better living world.

At JSPL, we are poised to create superior value for the stakeholders by meeting our customers' needs, maximising free cash flows from our world-class assets, and allocating capital with discipline. We are working towards building the furnace of India's growth. Considering 65% of our portfolio, that consists of margin-strong long products, we hold a unique position among our Indian peers and substantiate the growth agenda of the world's fastest growing large economy.

We focus on three parameters as part of our sustainable business growth strategy:

Sustainable commitment centred around education, population stabilization and building a clean/green India'

Customer centricity, where we emphasize our motto of  'One-Time-In-Full-Delivery' of our projects.

Corporate governance philosophy, where our Group Code of Conduct (GCoC) details our model code that governs our operating principles as employees, managers and business associates.

Our strategic efforts are carefully chosen across the economic, social and environmental platforms, so that they are in-line with our core business strategy and vision of sustainability. We firmly believe that this is the best approach to develop a sustainable strategy that can be accepted and implemented by our stakeholders effortlessly.

Capital
Economy
Short Term
Increase capacity across the board to improve utilization and to attain near to full capacity to maximizing EBITDA.

Transformation our balance sheet by continuing on our delivering journey by focusing on enhancing internal cash generation.
Medium Term
Asset sweating

Leverage policies and incentives from the Governement of India

Increase share of value added products Reduce working capital

Marketing focus to create a larger pipeline of long terms orders.
Long Term
Reduce upstream and downstream business and energy cost

Improve cost efficiencies

Mitigate financial risks to business.
Social
Resolve stakeholder grievances and concerns at the earliest

Increase our customers and market focus
Zero harm to employees
Enhance stakeholder wellbeing through increased engagements and meaningful interaction.
ENVIRONMENT
Full compliance with the existing environmental laws and regulations
Attain raw material sufficiency

reduce impact on environment through research and development
Setup environment benchmark for the Steel and Power Industry
1952
Shri O.P. Jindal established steel manufacturing unit in Hisar (Haryana)
1979
Promoted as Orbit Steel Private Limited (OSPL by Shri O.P. Jindal
1999
Shares of company got listed through demerger
2000
Shares of company got listed on BSE, NSE, The Stock Exchange, Ahmedabad
2005
Jindal Power Limited (JPL) became a subsidiary
2008
1,000 MW Tamnar-1 commissioned
 
2009
Commissioned a 4.5 MTPA Pellet Plant at Barbil
2010
Acquired 99.99 % stake in Shadeed Iron & Steel Co.
2012
Commercial production of India's widest 5.0-meter-wide plate mill production at Angul
2014
1,200 MW Tamnar-2 commissioned The second 4.5 MTPA Pelet plant commissioned at Barbil
2015
Commissioning of 2 MTPA coal gasification plant, first of its kind and the Angul
Commissioning of 2 MTPA SMS at Shadeed 1,200 MW of Tamnar-III commissioned
 
2017
Commissioned India's largest and most modern 4,554 m3 blast furnace at Angul.
Completion of 3 MTPA Basic Oxygen Furnace at Angul. All facilities of the 6 MTPA steel capacity at Angul is completed.
2018
First equity raised through QIP (oversubscribed > 2.0x)
2019
Commissioning of 2 coke oven batteries.
Rail order for - 100k MT of rails to Indian Railways received
2020
Resumption of CGP. DRI operations.
 

JSPL Foundation, which spearheads the Corporate Social Responsibility (CSR) initiatives of Jindal Steel and Power Limited (JSPL), launched the ‘Swayamsiddh Samman’ in 2015 to recognize, reward and nurture talent at the grassroots level.

The award was instituted to showcase untold stories of courage and determination in India, as well as felicitate the unsung heroes for their exemplary courage, commitment and confidence that have enabled them to overcome adversities and create a unique identity of their own, making them a source of inspiration for many in India. These people would become ‘Ambassadors of Change’, who will motivate and guide others to achieve their dreams.

The first-ever Swayamsiddh Samman awards were organised in the states of Chhattisgarh, Odisha and Jharkhand in March, May and July, 2015 respectively. The Awardees were beneficiaries of JSPL’s societal interventions themselves, who in turn continued on the path of social good and made a difference in the lives of many, thus forming a human chain. The ‘Swayamsiddh Samman’ has so far been conferred upon more than 160 action leaders.

After receiving an overwhelming response, the concept was taken to the national level. The title of the award was changed to ‘Rashtriya Swayamsiddh Samman’, which received 358 entries from across the country. Out of them, 25 individuals and organizations from different walks of life were felicitated with the Rashtriya Swayamsiddh Samman. 9 Individuals and 10 Organisations from across sectors also received the prestigious award and a cash prize of Rs. 1 lakh along with a certificate of appreciation to support their ongoing work, was handed to them. Additionally, 6 individuals and organisations were also given a ‘Special Recognition Certificate’ and a cash prize of Rs. 50,000 in cash.

For the second edition of the Awards, we have introduced the ‘Rashtriya Swayamsiddh Jeevan Samman’ to honour the social innovators and change-makers, who have made a commendable contribution to the society but work in silence. This award is a small token of appreciation for their lifelong inspirational and selfless service.