Jindal Stainless investing Rs 700 crore on decarbonisation projects

Jindal Stainless Ltd (JSL) on Tuesday said the company is in the process of investing Rs 700 crore in decarbonisation projects to achieve its net-zero goals by 2050.

The investments will continue over next five years to set up various environment-friendly projects, which include renewable energy, green hydrogen, biodiversity conservation, waste management and adoption of carbon capture technologies, JSL said in a statement.

"By investing Rs 700 crore in decarbonisation projects over the next five years...aim is to achieve financial and environmental goals, significantly reducing GHG emissions and carbon intensity by 50 per cent by FY35, and accomplishing net-zero emissions by 2050," the company said.

JSL also said that it launched a task force on nature-related financial disclosure (TNFD) report aims to identify, assess, and mitigate nature-related risks while capitalising on opportunities to ensure business resilience and environmental stewardship.

TNFD framework focuses on the four critical pillars of governance, strategy, risk and impact management to outline its metrics and strategic targets.

Highlighting investments in renewable energy, green hydrogen and innovative recycling technologies, the report provides comprehensive Biodiversity Management Plans (BMPs) and nature risk assessments at key company facilities in Jajpur, Hisar, and Vizag.