WEBVTT 00:00:05.840 --> 00:00:10.200 JSW Steel is India's leading integrated steel company. 00:00:10.200 --> 00:00:12.000 With 14 plants across India, 00:00:12.000 --> 00:00:15.080 JSW produces 24 million tons 00:00:15.080 --> 00:00:17.200 of flat and long steel per year. 00:00:17.720 --> 00:00:22.280 JSW's philosophy is to grow along with the society 00:00:22.280 --> 00:00:24.280 and support India's growth. 00:00:25.200 --> 00:00:26.280 What we are expecting is that 00:00:26.280 --> 00:00:29.960 the Indian steel industry will double its capacity by 2030, 00:00:29.960 --> 00:00:32.400 and triple its capacity by 2050. 00:00:32.400 --> 00:00:33.520 But at the same time, 00:00:33.520 --> 00:00:36.560 the steel industry in India is contributing up to 12% 00:00:36.560 --> 00:00:38.480 of the CO2 emissions of the country. 00:00:38.480 --> 00:00:39.960 So that is why it is very important 00:00:39.960 --> 00:00:41.760 that we take actions right now 00:00:41.760 --> 00:00:43.720 to decouple the emissions and the growth. 00:00:45.040 --> 00:00:46.840 We look at the opportunity 00:00:46.840 --> 00:00:49.800 that sustainability provides to JSW, 00:00:49.800 --> 00:00:52.920 and we are committed to reduce our CO2 emissions 00:00:52.920 --> 00:00:56.040 by 42% by 2030, 00:00:56.040 --> 00:01:01.040 and we also aspire to achieve carbon neutrality by 2050, 00:01:01.080 --> 00:01:03.480 20 years before India has committed 00:01:03.480 --> 00:01:04.920 its carbon neutrality status. 00:01:05.600 --> 00:01:09.160 In 2022, JSW partnered with BCG 00:01:09.160 --> 00:01:11.160 to launch SEED, 00:01:11.160 --> 00:01:14.920 Sustainable Energy Environment and Decarbonization. 00:01:15.240 --> 00:01:18.880 We found BCG as the right partner 00:01:19.080 --> 00:01:22.120 to make this change management happen. 00:01:22.120 --> 00:01:24.440 They have the right international exposure, 00:01:24.440 --> 00:01:27.520 they have the right understanding of the sector, 00:01:27.520 --> 00:01:28.520 and the most important, 00:01:28.520 --> 00:01:33.000 BCG understands JSW as a group, its business, 00:01:33.000 --> 00:01:35.400 its ethics, and its operation style. 00:01:36.040 --> 00:01:39.000 SEED is a large-scale transformation program 00:01:39.000 --> 00:01:41.800 that drives both operational decarbonization 00:01:41.800 --> 00:01:43.200 and cost efficiencies 00:01:43.200 --> 00:01:46.560 by inspiring granular shop-level action plans. 00:01:46.560 --> 00:01:49.320 SEED creates on-ground change management 00:01:49.320 --> 00:01:51.840 and furthers operational efficiency efforts 00:01:51.840 --> 00:01:54.560 for stakeholders across all levels. 00:01:54.560 --> 00:01:56.320 The SEED program really helped us 00:01:56.320 --> 00:02:00.360 to bring out the shop floor innovations on the forefront, 00:02:00.360 --> 00:02:03.120 and it also helped increase the ownership 00:02:03.120 --> 00:02:05.880 for people who own these projects, own these programs 00:02:05.880 --> 00:02:07.200 in a large way. 00:02:07.200 --> 00:02:08.640 SEED was further launched 00:02:08.640 --> 00:02:12.120 at JSW's second-largest plant in Dolvi, 00:02:12.440 --> 00:02:16.280 The climate action centers have encouraged JSW team members 00:02:16.280 --> 00:02:18.160 to share hundreds of ideas 00:02:18.160 --> 00:02:20.680 for lowering their plant's climate profile. 00:02:21.040 --> 00:02:23.200 What has happened in these climate action centers, 00:02:23.800 --> 00:02:26.440 the people have taken the ownership responsibilities 00:02:26.440 --> 00:02:27.720 up to themselves, 00:02:27.720 --> 00:02:30.160 and the individual has become himself a leader 00:02:30.160 --> 00:02:32.200 to drive the initiatives. 00:02:32.200 --> 00:02:34.440 And in the overall process, efficiencies also, 00:02:34.440 --> 00:02:36.880 there are a number of things which have happened. 00:02:36.880 --> 00:02:38.280 Within the period of six months, 00:02:38.280 --> 00:02:41.080 almost 18 projects have completed in this period. 00:02:41.080 --> 00:02:43.280 We have already achieved a little more than 00:02:43.280 --> 00:02:47.200 50 kg per ton of core steel reduction in CO2. 00:02:47.200 --> 00:02:49.320 This has given a lot of advantage 00:02:49.320 --> 00:02:51.400 in terms of reducing our cost as well, 00:02:51.400 --> 00:02:52.760 not only CO2 emissions. 00:02:52.760 --> 00:02:54.520 It has also helped in reducing the cost. 00:02:54.520 --> 00:02:57.640 When you reduce your emissions, you become more efficient. 00:02:57.640 --> 00:02:59.600 Whether it is energy efficiency, 00:02:59.600 --> 00:03:01.720 whether it is process efficiency, 00:03:01.720 --> 00:03:04.600 that means you reduce the input of carbon 00:03:04.600 --> 00:03:06.440 to the steelmaking processes, 00:03:06.440 --> 00:03:10.320 so sustainability is a source of opportunity. 00:03:10.320 --> 00:03:12.920 It actually provides business with some benefits. 00:03:13.360 --> 00:03:16.600 SEED has helped in opening the mindset 00:03:16.600 --> 00:03:21.120 of every process owner to identify key initiatives, 00:03:21.120 --> 00:03:23.800 but we have identified more than 400 initiatives 00:03:23.800 --> 00:03:28.400 and it has a capability to reduce 18 million tons 00:03:28.400 --> 00:03:31.040 of CO2 emissions by 2030. 00:03:31.040 --> 00:03:33.200 That is equivalent to taking out 00:03:33.200 --> 00:03:36.240 almost 3.5 million cars from the road. 00:03:36.240 --> 00:03:39.640 And it has been recognized as a change-management program 00:03:39.640 --> 00:03:42.440 that can give the required big-scale impact. 00:03:42.440 --> 00:03:44.880 And we are encouraged by the results 00:03:44.880 --> 00:03:47.080 which has come from Dolvi and Vijayanagar. 00:03:47.080 --> 00:03:50.680 Now we have determined that we will implement it across 00:03:50.680 --> 00:03:54.520 JSW Steel at all operational sites, 00:03:54.520 --> 00:03:56.920 and we are happy to help the entire sector as a whole 00:03:56.920 --> 00:03:59.720 by disseminating the knowledge and the practices 00:03:59.720 --> 00:04:02.000 that we have learned from the process.