JSW in an exchange filing announced that its CDP, which was earlier known as Carbon Disclosure Project Rating has been upgraded to A in 2022 from its earlier A- in 2021.
Based on data reported through CDP’s 2022 Climate Change questionnaire, JSW Steel is one of the few companies that achieved an ‘A’ out of nearly 15,000 companies scored.
CDP’s annual environmental disclosure and scoring process is widely recognized as the gold standard of corporate environmental transparency. In 2022, over 680 investors with over US$130 trillion in assets and 280 major purchasers with US$6.4 trillion in procurement spend requested companies to disclose data on environmental impacts, risks and opportunities through CDP’s platform. A record-breaking 18,700 companies responded.
A detailed and independent methodology is used by CDP to assess these companies, allocating a score of A to D- based on the comprehensiveness of disclosure, awareness and management of environmental risks and demonstration of best practices associated with environmental leadership, such as setting ambitious and meaningful targets. Those that don’t disclose or provided insufficient information are classified under category ‘F’.
Mr. Seshagiri Rao - Joint MD, JSW Steel & Group CFO, said: “ A majority of JSW’s strategic focus areas & organizational goals have been formulated with the goal of achieving sustainable operations & practices, and to participate in global efforts toward a just, equitable, and sustainable future. We strive to keep constantly raising the bar on our ambitions and actions - in order to truly unlock our potential for sustainable development.”
Dexter Galvin, Global Director of Corporations and Supply Chains at CDP, said: “Congratulations for being in this year’s A List; environmental transparency is the first vital step towards a net-zero and naturepositive future. As CDP continues to raise the bar on what qualifies as climate, forests and water leadership, we hope to see the ambitions and actions of companies on the A List – and those wanting a place on it – do the same.”
CDP is a UK-based global environmental non-profit that helps companies and cities to disclose their environmental impacts by capturing and evaluating the environmental data and thereby assigning a rating.
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