India’s JSW Limited has entered into a partnership with US-based Boston Consulting Group (BCG) to meet its decarbonization goals of reducing carbon emissions by 42 percent by 2029-30, a company said in a statement on Monday, July 18.
“According to a ministry of steel document, the iron and steel industry globally accounts for around eight percent of total carbon dioxide (CO2) emissions on an annual basis, whereas in India it contributes 12 percent to total CO2 emissions. Thus, the Indian steel industry needs to reduce its emissions substantially in view of the commitments made at the COP26 climate change conference. JSW Limited’s partnering with BCG will accelerate this journey towards meeting emissions targets,” JSW Steel joint managing director Seshagiri Rao said.
The collaboration will focus on applying digital and analytics to track, measure, simulate and enhance the company’s environmental performance.
BCG will also focus on upskilling JSW Steel’s employees and enhancing the sustainability culture across the manufacturing operations, the company said.
Christoph Schweizer, CEO of Boston Consulting Group, said, “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.”