Indian steel giant JSW Steel has announced partnership with US based Boston Consulting Group to meet its decarbonization goals of reducing its carbon emission by 42% by 2029-30 versus base year 2005. This collaboration is focused on applying digital and analytics to track, measure, simulate and enhance the company's environmental performance, Rao said in a statement. In the process, BCG will also focus on up skilling JSW Steel's employees and enhance the sustainability culture across the manufacturing operations. This transformative initiative will play a critical role in scaling up the company's sustainability initiatives. 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. Boston Consulting Group CEO Mr Christoph Schweizer 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.” According to India’s Steel Ministry, while the iron and steel industry globally accounts for around 8% of total carbon dioxide emissions on an annual basis, Indian steel sector contributes 12% to the total CO2 emissions of India. Thus, the Indian steel industry needs to reduce its emissions substantially in view of the commitments made at the COP26 climate change conference. JSW Steel has recently unveiled plans to invest INR 10,000 crores for decarbonization and is leading the green transition of Indian steel sector.
Indian steel giant JSW Steel has announced partnership with US based Boston Consulting Group to meet its decarbonization goals of reducing its carbon emission by 42% by 2029-30 versus base year 2005. This collaboration is focused on applying digital and analytics to track, measure, simulate and enhance the company's environmental performance, Rao said in a statement. In the process, BCG will also focus on up skilling JSW Steel's employees and enhance the sustainability culture across the manufacturing operations. This transformative initiative will play a critical role in scaling up the company's sustainability initiatives. 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. Boston Consulting Group CEO Mr Christoph Schweizer 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.” According to India’s Steel Ministry, while the iron and steel industry globally accounts for around 8% of total carbon dioxide emissions on an annual basis, Indian steel sector contributes 12% to the total CO2 emissions of India. Thus, the Indian steel industry needs to reduce its emissions substantially in view of the commitments made at the COP26 climate change conference. JSW Steel has recently unveiled plans to invest INR 10,000 crores for decarbonization and is leading the green transition of Indian steel sector.
