Climate Change Data

Environmental Metrics

ESG Focus Areas

• Corporate Social Responsibility

Environmental Achievements

• Improved Oxygen lancing system in Electric Arc Furnace to reduce specific electric energy consumption.
• Use of Static Var Compensator for better Power Factor and better energy efficiency in Electric Arc Furnace.
• Oxygen enrichment in hot blast air in Blast furnace to improve energy efficiency.
• Replacement of Low Ash Metallurgical coke by pulverized coal in blast furnace.
• Use of dolo char in fluidized bed boilers to reduce coal consumption for Power Plant
• Use of Blast Furnace gas in reheating furnace to reduce furnace oil consumption for Rolling Mill
• Use of hot flu furnace gas to dry coals for injection in the blast furnace

Social Achievements

• Adoption of seventeen villages in Raigarh, Chhattisgarh and nine villages in Raipur, Chhattisgarh to provide quality education and proper infrastructure to the weaker sections of the society.
• Special focus on promoting equality and economic empowerment for women through regular training classes on diverse crafts and skills.
• Focus on training the youth at computers to help increase their job opportunities.
• Setting up of Monnet DAV Public Schools, Raipur and Raigarh for the welfare of the employees’ children and for children in the surrounding areas.
• Support to non-formal education to children through ‘anganwadis’.
• Conducting literacy campaigns to increase the GER in the rural villages near the Group’s operational areas.
• Rewarding meritorious students with scholarships.
• Financial assistance to children from under-privileged families.
• Establishing a special foundation, ‘Sahan’, to look after the needs of the differently-abled children.
• Setting up of hospitals at Raipur and Raigarh, which serve as vital infrastructure units for attending to the healthcare needs of the community.
• Provision of round-the-clock free ambulance services for meeting basic healthcare needs as well as for emergency facilities.
• Regular free medical camps.
• Financial support for surgical treatments at hospitals in Raipur and Raigarh.
• Partnering with government, non-profit organizations and aid agencies to support health and hygiene awareness and treatment programs.
• Free of cost proper healthcare facilities to pregnant women, and care of mother and new born baby post delivery.
• Beautification and green landscaping of areas around the airports in the cities of Kolkata, Raipur and Bhubaneswar.
• Maintaining Chhattisgarh Haat and Anupam Garden in Raipur.
• Undertaking electrification projects in villages.
• Building schools and recreational facilities.
• Developing the Mahendrapuram integrated townships at Raipur and Raigarh.
• Constructing roads and development of proper sanitation facilities.
• Setting up of academies, sponsoring players and their kits, and organizing tournaments are among the prominent efforts initiated by Monnet for the promotion of Boxing.
• Monnet is also proud to be the first and official sponsor of the Indian Boxing Team.

Governance Achievements

• The Company has in place a qualified and independent Audit Committee.
• The Company has effective internal control environment.
• The Company has proper budgeting system and the actual performance is continuously evaluated and the corrective measures are taken from time to time.

Climate Goals & Targets

Environmental Challenges

• Persistent high inflation, high fiscal deficit and low investments in the infrastructure and construction sector impacting the steel sector.
• Sudden surge in variable and fixed expenses impacting profits after commissioning of the steel plant.
• Delays in receipt of various Government approvals and disbursement of loan from the banks for the 1050 MW pit-head coal based Thermal Power Project at Angul, Odisha.
• High cost of debt due to change in the interest rate regime.
• Delayed disbursals, late approvals and the issue of land acquisition resulting in time & cost over-run in the Angul power project.

Mitigation Strategies

• Successfully met the challenge of stabilizing various modules of the steel plant and steadily ramping-up the capacity utilization.
• Penetrating new markets and developing a customer base for value-added products.
• Freezing the Revised Cost of Project for the Angul power plant and arranging the required funding for the cost overrun.

Supply Chain Management

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: ISO 9001:2008, ISO 14001:2004

Environmental Metrics

ESG Focus Areas

• Not disclosed

Environmental Achievements

• Increased efficiency of raw material inputs in power generation; reduced/eliminated consumption wastages; used alternative energy sources; implemented 85% efficient TPH CFBC Boiler Technology, saving coal.

Social Achievements

• Not disclosed

Governance Achievements

• Established a Vigil Mechanism Cum Whistle Blower Policy; framed a Nomination and Remuneration Policy; formed a Corporate Social Responsibility Committee; complied with requirements of Regulation 34 of SEBI Listing Regulations, 2015; laid down Anti Sexual Harassment policy.

Climate Goals & Targets

Environmental Challenges

• Unprecedented adverse market conditions in the steel industry worldwide, with continuously declining product prices; unfavorable demand-supply scenario and dumping from China, CIS, Japan, and Korea; significant decline in operating profits and cash flow mismatch; inability to honor commitments to lenders; deterioration of performance due to global steel market mayhem.

Mitigation Strategies

• Lenders formed a Joint Lenders' Forum and formulated a corrective action plan; lenders converted part of outstanding debt into equity share capital; lenders are running the process of divesting their stake in favor of a new investor; implemented measures to enhance operating efficiency, optimize costs, shift to better product mix, expand dealer network, and improve quality.

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement

• Not disclosed

Climate-Related Risks & Opportunities

Physical Risks

• Not disclosed

Transition Risks

• Not disclosed

Opportunities

• Not disclosed

Reporting Standards

Frameworks Used: Indian GAAP, Companies Act 2013, Companies Act 1956, SEBI Listing Regulations, 2015

Certifications: Null

Third-party Assurance: O.P. Bagla & Company Chartered Accountants, New Delhi

UN Sustainable Development Goals

• Not disclosed

Not disclosed

Sustainable Products & Innovation

• Not disclosed

Awards & Recognition

• Not disclosed