India’s Jindal Stainless Limited (JSL) is in the process of investing $79 million in decarbonisation initiatives to reduce carbon dioxide emissions, the company said in a statement on Friday, September 26.
The company is taking multiple steps to reduce carbon footprints, including building Odisha's largest captive solar plant where its mill is located, it said in the statement.
"Over the next few years, JSL plans to invest $79 million in its decarbonization initiatives, including Odisha's largest captive solar plant, energy efficiency upgrades, digitisation of our supply chain for greater transparency, and community development initiatives in education, healthcare and skilling around our plants," it added.
In the fiscal year 2024-25, JSL achieved a 14 percent year-on-year reduction in CO2 emissions, avoiding approximately a 318,248 mt carbon footprint compared to the previous fiscal year.
For the fiscal year 2025-26, the company's focus is to build on this momentum and further reduce emissions, as was achieved in 2024-25 in terms of emission reductions. This is part of the mid- and long-term roadmap to achieve a 50 percent reduction by 2035 and net zero by 2050, the company said.
JSL, India's largest stainless steelmaking company, is ramping up its facilities to reach a capacity of 4.2 million mt per year by 2028.