JSW Steel partnered with US-based Boston Consulting Group (BCG) on Monday to meet its decarbonization goals. JSW Steel has an ambitious target of 42 per cent to reduce carbon emissions till 2029-30.

According to a ministry document, “the iron and steel industry globally accounts for around 8 per cent of total carbon dioxide (CO2) emissions annually, whereas, in India, it contributes 12 per cent to the total CO2 emissions.”

• HCL Tech Shares Gain 2% on Partnering Up with Strategy 
• Shares of Shriram Pistons skyrocketed 9% on Acquiring Antolin Lighting
• Stocks in Focus: Lloyds Engineering, SEAMEC, RailTel, and Others
• Overnight Stock Market Movements: Key Developments 
• Stocks Under F&O Ban: Bandhan Bank, and Others

The steel industry in India requires to reduce carbon emissions substantially with the commitments made at the COP26 climate change conference.

Seshagiri Rao, Joint Managing Director of JSW Steel and Group CFO, said JSW Steel is partnering with BCG to accelerate its journey towards meeting emission targets.

“This collaboration is focused on applying digital and analytics to track, measure, simulate and enhance the company’s environmental performance,” Rao said in a statement.