Corporate Citizenship at JSW
Regular engagement with different stakeholder groups forms an integral part of our business strategy. With best of our efforts, we strive towards transforming our stakeholder engagement into an active two-way dialogue.
We strive to be a responsible corporate citizen and conduct our business with this aim in mind. Our policies are based on the ideology of maintaining transparency and openness in the Management and Board dealings. Our executives contribute to the ideologies and work towards embedding robust corporate governance principles in their practices. Cutting edge technology combined with our application and customer service skills help us to create value for all our stakeholders.
With growing scarcity of primary and non-renewable sources of energy, we are striving to minimize our energy consumption through process optimization and energy conservation initiatives while deploying new technologies.
Since inception, we have consistently aggregated competencies from diverse cultures, educational backgrounds and domain experience with a singular objective: to accelerate growth. We reinforced this focus through an institutionalized multi-hierarchical training extending from steel manufacturing to holistic personality development which commences from day one of employment, followed by specialized trainings at regular intervals.
We strive to maintain the highest standards for the safety and wellbeing of our employees which minimize injuries and casualties during day-to-day operations. Our safety team conducts regular training programmes to instil the concept of maintaining safe operations among our employees and to educate them on the safety norms and procedures to be followed in case of any incident.
The JSW group believes in the policy of ‘People First’ and the objective of our activities is to make a tangible difference in the lives of the people in the areas surrounding our operations. As a responsible organization, we are committed to investing a minimum of 2 percent of our PAT towards community development. Employees are encouraged to contribute upto 40 hours towards community development activities per employee per year.
Promoting on a wider platform The JSW Earth Care Awards is aimed at highlighting action of direct relevance to tackle challenges posed by climate change. The award extending over SAARC region is for excellence in climate change mitigation and adaptation.
JSW is fundamentally committed to sustainable business and the 9 principles of National Voluntary Guidelines on Social, Environmental and Economic Responsibilities of Business (NVGs) it has been pursuing in spirit while at JSW Steel Limited reporting on GRI framework assured by third party independently (since FY 2005) on International Standards for Assurance Engagements (ISAE) 3000. The policies in the context of these principles are Board approved and a Committee of Board comprising 3 Independent and 3 Executive Directors is overseeing the same, quarterly. CSO structure implements the sustainability oversight reporting.
All of us at the JSW Group are committed to live by these tenets.
The JSW Group has always strived to become a leading player in every sector it operates in. The Vision of global recognition for quality and efficiency while nurturing nature and society, and Mission of supporting India's growth in core economic sectors with speed and innovation, have driven the organisation. In other words, the passion for inclusive, social-economic growth while taking care of the environment amply shows the corporate DNA has sustainability embedded in it.
The JSW Group values natural resources, and has always taken extra efforts to minimiseits environmental footprint. For example, the life of mines has been extended by utilising commonly unused grade of iron ore through adedicated beneficiation plant. Further, modifications in the fuel blend helped improve the economic bottom-line significantly. JSW has invested in innovation not only to reduce dependence on high quality iron ore, but also to invest in improving productivity and efficiency, enriching its product portfolio and preparing itself for future opportunities. Although India is endowed with a rich mineral deposit base, it needs to be tapped sustainably to enable growth from a long-term perspective, thereby paving the way for a self-reliant nation.
JSW Steel has established a Board-level Business Responsibility Reporting Committee which reviewsthe sustainability parameters every quarter, as well as the CSR performance. JSW has also adopted policies to address the principles of the National Voluntary Guidelines; this amply demonstrates commitment to corporate governance.
All production units of JSW Steel have adopted certified Environment Management System as per ISO 14001. It is the only player in the Indian steel industry to have implemented a wide range of iron and steel making technologies, including Corex, Blast Furnace, DRI and Twin Shell ConArc2. Such a combination has led to optimum resource utilisation. The plant at Toranagalluis the first green-field project in India to use the Corex technology to produce steel. So far, an amount of Rs.162 croreshave been invested towards environmental management.
The scientific efforts of the organisation have ensured the operations at the Toranagallu planthave no adverse effects on the biodiversity and wildlife, as confirmed by a Government committee. Further, JSW is in the process of becoming the first integrated iron and steel plant in India to use Corex gas to produce DRI based on the Midrex process, which has a potential to reduce CO2 emissions by as much as 40% when compared to the conventional coal route.
Among other key initiatives, JSW Steel has been sharing information on its greenhouse gas emissions for the past several years to not only the MoEF's effort to compile the National GHG Inventory as part of India's National Communication to the UNFCCC, but also to the other initiatives such as the Carbon Disclosure Project. Further, it is one of the few companies in India that have added a section on sustainability in its annual report for 2012-2013. Also, besides regularly publishing sustainability reports using the framework of the highly respected Global Reporting Initiative (GRI), JSW is also a member of GRI's Consortium on Sustainability and Transparency. Finally, since July 2013, JSW's newly-constructed headquarters - the JSW Centre, Mumbai - has several unique features that led to achieving Platinum certification under LEED, i.e., the highest rank in the green building rating system.
JSW Steel has established its leadership position as India's highest manpower productiveteam per tonne of steel manufactured. The organisation strives to adopt the highest standards of safety for the well-being of employees during day-to-day operations, with a goal of zero fatality.Besides conducting regular training on safety to instil a safety culture across the organisation and the value chain, efforts are on to continuously improve occupational health and safety performance to attain benchmarked global standards.
JSW's approach to business is deeply ingrained with the belief that empowering communities and enabling them to grow hand-in-hand would be integral for inclusive growth. The community initiatives have long preceded the mandatory provisions on corporate social responsibility in the Companies Act, and cascades down from the overall Vision and Mission of the JSW Group.
Since January 2011, JSW launched a novel initiative on employee volunteerism called LEAP (Learn, Experience, Act and Persuade)for communities. Employees have a choice to contribute their time, talent and finances for the CSR projects initiated through the JSW Foundation, leading to happiness in the community.
The key focus of the community initiatives has been on making primary education universal, mitigating infant mortality and improving maternal health; these are in harmony with the UN Millennium Development Goals. Emphasishas also been on securing livelihood in the communities through farm-based and non-farm based initiatives, as well as waste management and water conservation.
Apart from the above, JSW also has a keen interest in conserving art and heritage of the country. This is evident from the restoration of the Krishna temple, Hampi (Karnataka) - a UNESCO World Heritage site. There are initiatives for the deprived and differently-abled; e.g., the Tamanna School for special children assists them in fulfilling their potential and lead independent lives with dignity.
All the community initiatives are implemented directly, or in partnership with other NGOs, government bodies or the community. The initiatives are based on needs identified by engaging with the local communities at the planning stage of projects, and consequent impacts of the initiatives are assessed externally. The trust and bond the neighbouring communities have with JSW is testimony to the effectiveness of this approach.