JSW Steel has tied up with US-based Boston Consulting Group to meet its ambitious decarbonisation target to reduce carbon emissions by 42 per cent by 2029-30 versus the base year of 2005.

Joint Managing Director and Group CFO, JSW Steel, Seshagiri Rao, said the company is joining hands with BCG to accelerate its journey towards meeting its emission targets. This collaboration is focused on applying digital and analytics to track, measure, simulate and enhance the company’s environmental performance, he said.

According to a ministry document, the iron and steel industry globally accounts for around 8 per cent of the carbon dioxide emissions annually, whereas in India, it contributes 12 per cent to the 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.

In the process, BCG will also focus on upskilling JSW Steel’s employees and enhance the sustainability culture across manufacturing operations. This transformative initiative will play a critical role in scaling up the company’s sustainability initiatives.

Christoph Schweizer, CEO, Boston Consulting Group, said it will deploy its proprietary and patented CO2 AI (artificial intelligence) solution to achieve focused change management and impact.

This is the second strategic collaboration with JSW Steel, following the successful Digital Transformation partnership, he added.

The programme includes a rigorous target-setting exercise at an overall manufacturing level, devolving them into shop-level targets, and converting emission targets into actionable tasks on operating metrics.

A team of sustainability champions will lead the deployment across 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, said JSW Steel in a statement.

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