JSW Group joins the World Business Council for Sustainable Development

New Delhi, 7^th February 2022 – JSW Group, one of India’s leading business houses, has joined over 200 forward-thinking companies as the newest member of the World Business Council for Sustainable Development (WBCSD).

JSW will be represented in WBCSD by Mr. Seshagiri Rao, Joint Managing Director and Group CFO, who also sits on the Board of Directors of JSW Steel. He will also take part in the WBCSD CFO network, which is driving higher ESG performance within companies, and more effective disclosure to capital markets.

The JSW Group is a USD $ 13 billion multinational conglomerate headquartered in India. JSW’s innovative and sustainable presence in various sectors including steel, energy, infrastructure, cement, paints, venture capital, and sports is helping the Group play an important role in driving India’s economic growth. The Group strives for excellence by leveraging its strengths and capabilities including a successful track record of executing large capital-intensive and technically complex projects, differentiated product mix, state-of-the-art manufacturing facilities, and a greater focus on pursuing sustainable growth.

With a culturally diverse workforce spread across India, the USA, Europe, and Africa, JSW Group directly employs nearly 40,000 people. It also has a strong social development focus aimed at empowering communities around its operations

JSW is progressing across markets with innovation, digitalization, and sustainability as its key anchors. With efficient integrated operations and a clear vision for the future, JSW is executing its strategic growth plan in line with the growing steel demand. The wide spectrum of innovation, robust ESG commitments, and a drive to be #BetterEveryday, enable JSW to consistently create responsible value, for everyone. JSW has carved a sustainability vision and has a sustainability strategy along with key focus areas (https://www.jsw.in/groups/sustainability-homepage) which help them steer their way for a sustainable planet.

JSW has set ambitious sustainability targets viz JSW Steel has set a target of reducing its specific CO2 emissions by 42% by FY2030, aligning its target with the Sustainable Development Scenario (SDS) of International Energy Agency (IEA).  JSW Energy has committed to be carbon neutral by 2050.

Seshagiri Rao, JMD & Group CFO says, “JSW is committed to harmonizing our business operations with the welfare of the planet enabling growth, sustainably.  At JSW, we remain committed to creating a “Better today, Stronger tomorrow.” We are excited to join WBCSD to collaborate and drive transition for a better world for all.”

“JSW Group is one of the leading companies in India, and a major player in the global steel industry, which is a critical industry for system transformation,” said Peter Bakker, WBCSD President and CEO. “We are particularly excited to work with them and look forward to further developing our relationship, innovating with them and other members to make real, tangible progress to tackle the global pressing sustainability challenges of climate emergency, loss of nature and mounting inequality for a more sustainable world. Only collaboration at unprecedented levels will create the impact and scale of transformations that are required for more than 9 billion people to live well, within planetary boundaries, by mid-century – as laid out in Vision 2050: Time to Transform.”

“JSW Group is joining WBCSD at an important time, when expectations of business have never been higher” said Joe Phelan, India Director, WBCSD. “It is a major player in the global steel industry, which is critical to climate action, as well as in energy, infrastructure and more. We look forward to providing opportunities for them to increase and accelerate the role they play in a sustainable world.”

About JSW

About JSW Steel: JSW Steel is the flagship business of the diversified US$ 13 billion JSW Group. As one of India’s leading business houses, JSW Group also has other business interests in sectors such as energy, infrastructure, cement, paints, sports, and venture capital. JSW Steel, certified as Great Places To Work in 2021, has emerged as an organization with a strong cultural foundation and great potential to be among the Top 100 companies. Over the last three decades, it has grown from a single manufacturing unit to become India’s leading integrated steel company with a capacity of 28 MTPA in India & the USA (including capacities under joint control). Its roadmap for the next phase of growth includes a target of achieving 37.5 MTPA steel capacity by FY25. The Company’s manufacturing unit in Vijayanagar, Karnataka is the largest single location steel-producing facility in India with a capacity of 12 MTPA. JSW Steel has always been at the forefront of research and innovation. It has a strategic collaboration with global leader JFE Steel of Japan, enabling JSW to access new and state-of-the-art technologies to produce & offer high-value special steel products to its customers.  These products are extensively used across industries and applications including construction, infrastructure, automobile, electrical applications, appliances etc.  JSW Steel is widely recognized for its excellence in business and sustainability practices. Some of these recognitions include World Steel Association’s Steel Sustainability Champion (consecutively 2019 to 2021), Leadership Rating (A-) in CDP (2020 & 2021), Deming Prize for TQM for its facilities at Vijayanagar (2018) and Salem (2019). It is part of the Dow Jones Sustainability Index (DJSI) for Emerging Markets (2021) and S&P Global’s Sustainability Yearbook (consecutively for 2020 and 2021). JSW Steel is the only Indian company to be ranked among the top 15 global steel producers by World Steel Dynamics for 13 consecutive years since 2008. As a responsible corporate citizen, JSW Steel’s carbon reduction goals are aligned to India’s Climate Change commitments under the Paris Accord.

About WBCSD

WBCSD is the premier global, CEO-led community of over 200 of the world’s leading sustainable businesses working collectively to accelerate the system transformations needed for a net zero, nature positive, and more equitable future. We do this by engaging executives and sustainability leaders from business and elsewhere to share practical insights on the obstacles and opportunities we currently face in tackling the integrated climate, nature and inequality sustainability challenge; by co-developing “how-to” CEO-guides from these insights; by providing science-based target guidance including standards and protocols; and by developing tools and platforms to help leading businesses in sustainability drive integrated actions to tackle climate, nature and inequality challenges across sectors and geographical regions. Our member companies come from all business sectors and all major economies, representing a combined revenue of more than USD $8.5 trillion and 19 million employees. Our global network of almost 70 national business councils gives our members unparalleled reach across the globe. Since 1995, WBCSD has been uniquely positioned to work with member companies along and across value chains to deliver impactful business solutions to the most challenging sustainability issues. Together, we are the leading voice of business for sustainability, united by our vision of creating a world in which 9+ billion people are living well, within planetary boundaries, by mid-century.