Geneva, Delhi, 7 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 greater focus on pursuing sustainable growth.
With a culturally diverse workforce spread across India, 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 are progressing across markets with innovation, digitalization and sustainability as their key anchors. With efficient integrated operations and a clear vision for the future, JSW are 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 have 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 have 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 harmonising 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.”