JSW Steel collaborates with BCG to accelerate decarbonization journey

18 Jul 2022 , 02:01 PM

JSW Steel has entered a collaboration with leading global consulting firm, Boston Consulting Group (BCG) on its decarbonization and sustainability agenda.

As part of this collaboration, BCG will leverage its proprietaryCO2 AI platform along with its best-in-class digital and analytics capabilities to support JSW Steel in their decision making throughout the net-zero journey. As a front-runner of India’s steel sector, JSW Steel is committed to combat the climate change challenge by incorporating sustainability in its business operations.

Mr Seshagiri Rao, Joint Managing Director of JSW Steel and Group CFO said, “As part of our commitment to support India’s net zero goal, JSW Steel has an ambitious target of reducing its carbon emission by 42% (versus base year 2005) by FY30. We are currently on the journey towards achieving the target through strategic climate action agenda and various steps in our operations. We are partnering with BCG to accelerate our journey towards meeting our emission targets.

This collaboration is clearly focused on applying digital and analytics to track, measure, simulate and enhance JSW Steel’s environmental performance. In the process, BCG will also focus on upskilling our employees and enhance the sustainability culture across our manufacturing operations. This transformative initiative will play a critical role in scaling-up our sustainability initiatives.”

Christoph Schweizer, CEO of Boston Consulting Group said,“We are very excited to partner with JSW Steel on its climate and sustainability agenda. We will be deploying our proprietary and patented CO2 AI solution to achieve focused change management and impact. This is our second strategic collaboration with JSW Steel following the successful Digital Transformation partnership. We are very excited to bring our best capabilities and innovative solutions to JSW Steel’s sustainability agenda.”

The program includes a rigorous target-setting exercise, at an overall manufacturing level, devolving them into shop level targets, and converting emissions targets into actionable tasks on operating metrics. A team of sustainability champions will lead the deployment across the manufacturing operations.

For all mid-to-long term initiatives, a roadmap will be designed aimed at introducing new technologies and initiatives including use of Hydrogen, Carbon Capture and Storage, among others. It will also include end-to-end assessment of diverse technology options relevant for existing and new capacities and investments required to further the sustainability goals.