JTL Infra Takes a Positive Step
Towards Cleaner Future With ESG
Adoption
Vi j a y S i n g l a
Vijay Singla of JTL Infra announced the adoption of ESG
(Environmental, Social, and Governance) within his company,
along with voicing concern about increasing focus on the
environmental challenges plaguing various countries and
communities in the world.
He says “from eating habits to spending patterns to social attitudes
to challenging regressive customs- there is a rising awareness of
how minor changes may make a big difference in society. In the
same way, adopting ESG will set slow but definite new carbon
expectations for the steel industry.”
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The recent forward-looking Union Budget, as well as the fact
that energy transition and climate action are both critical to
the economy's long-term viability, are two of the
government's development pillars. "The budget continues to
give encouragement for growth, particularly in the Steel and
mining industry," Vijay Singla, JTL Infra says.
According to Saurabh Bhatnagar, Partner, Ernst & Young LLP,
EY India National Mining & Metals Consulting Leader
“Companies with stronger ESG performance can acquire
project finance at a reduced cost, improve resource
management, minimize operational risk, and strengthen
resiliency against future changes,” says the report.
When determining the profitability of capital investments,
several steelmakers consider the impact of carbon emissions.
Adopting shadow internal carbon pricing can aid in the
identification of sustainability inefficiencies as well as the
economic implications of a low-carbon economy.
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Vijay Singla strongly feels that JTL Infra must focus on finding
solutions, including a collaborative approach, to the difficulties
that continue to afflict it. "The steel sector is on the verge of a
much-anticipated transformation, with all eyes on ESG," he adds.
The actions taken from here on should support that shift. This
would include leveraging the power of modern technologies, a
necessity highlighted by the epidemic, as well as an emphasis on
decarbonization, digitalization, and decentralization. "Today's
cutting-edge technology has the capacity to fulfill energy demand
while also pushing sustainability," Singla stated.
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Vijay Singla of JTL Infra is looking forward to embracing the
ESG practice within the company and has a few suggestions
on how to make it happen. The most important of these is
to create an environment with built-in structural incentives
that not only encourage but also enable the sector to get
comfortable with new technologies. He believes
“government green stimulus packages and the global green
infrastructure investment push will have a double-edged
effect on the metals and mining sector like JTL Infra that
helps the company to grow in adversity.”
Vijay Singla has a strong intuition that digital solutions may
assist in boosting productivity, reducing energy usage,
reducing waste, and managing pollutants.
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“Blockchain has the potential to validate the steel value
chain's sustainability quotient, providing end-users with
verifiable data to analyze their net carbon footprint. Cloud
computing may also aid in the creation of more flexible supply
networks, while central command and control centers can
monitor geographically scattered mine-to-metal value chains,”
he added.
Decisions about sustainability efforts cannot be made solely
based on financial expenses to the company. Vijay Singla has
figured out a solution, he says, “We must act in the best
interests of all stakeholders and be willing to make a fair
trade-off between industry, end-users, and the environment.
Stakeholder alignment will be important to accelerating the
speed of change and enabling the collaboration required to
co-develop realistic solutions to complicated issues.”
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Vijay Singla (JTL Infra) underlined the need for a reliable supply system. He believes that "in the long term, it will
establish a win-win paradigm that benefits customers, distribution companies, and franchisees."