JSW Steel engages continuously with its diverse external stakeholders in a variety of ways. All along its development from a humble beginning to becoming a leading corporate citizen over the last two and a half decades, the Company has made incessant efforts to improve the quality of life in the neighbouring community. The Company reinforces relationships through regular engagement and partnerships with its key stakeholders: employees, customers, suppliers, community, financial and research institutions, government bodies and the civil society. Initiating meaningful changes, the Company has deployed a strategic inclusive development approach for its neighbouring communities.
On behalf of the Company, JSW Foundation has led the efforts over the years to identify and implement initiatives on seven thematic areas for social and community development prioritised after needs assessment. They encompass water, sanitation, environment, health, nutrition, education, skills, livelihoods, sports and art, culture and heritage, along with:
These initiatives at all the manufacturing sites are regularly reviewed and their impacts assessed to serve as inputs for further engagement and better quality of lives in the community.
JSW Steel believes engaging effectively with all stakeholders constitute a fundamental part of its business operations, and the resources of the Company are utilised to benefit the society at large. While the Company is dependent on domestic as well as international suppliers for meeting its raw material requirement, it prioritises domestic sourcing over import wherever possible. A testimony to this is the fact that about 85% of the iron ore procured by the Company in FY18 was from domestic sources. Not only do the suppliers and vendors of the Company agree to abide by its Code of Conduct covering ethical, social and environmental aspects, it also subscribes to similar requirements from its customers. As a responsible corporate citizen, the Company complies with all regulatory and legal requirements, has not been subject to any penalties on account of the same, and also not been subject to any cases filed by any stakeholder relating to unfair trade practices, irresponsible advertising or anti-competitive behaviour.
One site of the Company received a notice from the Central Pollution Control Board (CPCB) for noninstallation of a continuous emission monitoring system. The site was already in the process of procuring the system; it obtained a stay order from the High Court and completed the installation of the monitoring system for the requisite number of stacks. The CPCB was requested to revoke the order. The formal decision is awaited.
Reduction in malnutrition cases in Vijayanagar
JSW Steel believes in pursuing its business objectives ethically, transparently and with accountability to its stakeholders across the value chain. The Company is committed to promoting integrated responsible behaviour and value for social and environmental wellbeing. To this end, it has a policy on business conduct that is applicable to all its employees and value chain partners. JSW Steel is committed to not only continuing to allocate resources towards special corpus for Corporate Social Responsibility as per the categories of the Companies Act, 2013, but also to:
In line with the above, JSW Steel engages with leading industry bodies and organisations such as the World Steel Association, CII, FICCI, ASSOCHAM, Indian Steel Association, GRI, DJSI, CDP, UN Global Compact, Bangalore Chamber of Industry & Commerce, Karnataka Iron & Steel Manufacturing Association, Indian Institute of Metals, American Society of Metals, Association of Iron & Steel Technology (USA), Iron and Steel Institute of Japan, PMS (Metal Society of USA), Indian Chamber of Commerce and Bengal Chamber of Commerce & Industry. These engagements provide an opportunity for the Company to partner with the government for policy advocacy and work towards the collective welfare of the society, thereby enhancing value for all.
JSW Steel's focus is to add value to its customers and remain a supplier of choice in all markets, while improving the wellbeing of customers and the society. The Company is committed to operating processes and conducting marketing promotions in a transparent and responsible manner by sharing product information
JSW Steel strives to ensure an efficient customer feedback mechanism and conducts regular customer satisfaction surveys to understand their expectations and concerns.
To enable this, the Company has portals for customers and suppliers. While this facilitates procurement and delivery, it also provides opportunity to gauge evolving customer requirements and supplier capabilities. With some customers and suppliers, the Company even collaborates and co-creates. This type of innovation has helped in mutual profitability, while also reducing emissions and use of energy and other resources. Additionally, a grievance redressal mechanism is available to all stakeholders. Besides resolving the grievances seamlessly, this also provides an opportunity to engage more closely with the entire value chain. JSW Steel conducts customer satisfaction surveys through a third party. The survey captures customer expectations on the following attributes: