Jindal Stainless, India's
largest stainless steel manufacturer, recently launched its first Task Force on
Nature-Related Financial Disclosure (TNFD) Report, marking a significant
milestone in its sustainability journey. This report outlines the company's
strategic approach to embedding nature-related considerations into its business
operations, showcasing its commitment to sustainability, biodiversity
conservation and proactive risk management, while balancing growth and social
responsibility in addressing the global challenge of climate change.
The TNFD report
underscores Jindal Stainless' dedication to incorporate nature-focused
strategies across all its operations, aligning with global standards such as
the International Financial Reporting Standards (IFRS) and the Global
Biodiversity Framework (GBF). The TNFD report aims to identify, assess, and
mitigate nature-related risks while capitalising on opportunities to ensure
business resilience and environmental stewardship. As an early adopter of the
TNFD framework, the company has set the benchmark in the metals sector by
adopting innovative and transparent approaches to managing dependencies on
natural resources and biodiversity conservation.
Speaking on the launch of
the TNFD report, Chief Sustainability
Officer, Jindal Stainless Limited, Mr Kalyan Bhattacherjee, remarked, “At
JSL, we believe that true progress comes from striking the right balance
between growth and responsibility. This report represents our commitment to
embedding nature-focused considerations into everything we do, ensuring our
actions align with global goals like the Kunming-Montreal Global Biodiversity
Framework. As an early adopter of the TNFD framework, JSL is proud to lead the
way in India's metals sector, demonstrating our dedication to transparency,
thoughtful planning, and effective management of nature-related risks and
opportunities. Our TNFD report is a call to action for everyone—our employees,
partners, communities, and investors—to work together in creating a future
where economic growth and environmental care go hand in hand.”
Underscoring a
forward-thinking approach to sustainability and circular economy initiatives,
the TNFD framework focuses on the four critical pillars of governance,
strategy, risk and impact management to outline its metrics and strategic targets.
Highlighting investments in renewable energy, Green Hydrogen and innovative
recycling technologies, the report provides comprehensive Biodiversity
Management Plans (BMPs) and nature risk assessments at key Jindal Stainless
facilities in Jajpur, Hisar, and Vizag.
Identifying key risks and
opportunities, Jindal Stainless' TNFD Report outlines measures to enhance
long-term business resilience and mitigating supply chain volatilities through
sustainable sourcing practices. Leveraging tools like ENCORE and the WWF
Biodiversity Risk Filter, Jindal Stainless has not only identified and
mitigated risks, including habitat degradation and climate-induced disruptions,
but has also demonstrated a proactive approach to achieving "No Net
Loss" in biodiversity. By investing ₹700 crore in decarbonisation projects
over the next five years, including renewable energy, Green Hydrogen,
biodiversity conservation, waste management and carbon capture technologies,
Jindal Stainless aims to achieve its financial and environmental goals,
significantly reducing its GHG emissions and carbon intensity by 50% by FY35,
and accomplishing net-zero emissions by 2050.
