Essar
Climate Impact & Sustainability Data (2023, 2024)
Reporting Period: 2023
Environmental Metrics
Total Carbon Emissions:Not disclosed
Scope 1 Emissions:Not disclosed
Scope 2 Emissions:Not disclosed
Scope 3 Emissions:Not disclosed
Renewable Energy Share:Not disclosed
Total Energy Consumption:Not disclosed
Water Consumption:Not disclosed
Waste Generated:Not disclosed
Carbon Intensity:Not disclosed
ESG Focus Areas
- Decarbonisation
- Decentralisation
- Digitalisation
Environmental Achievements
- Essar's refinery operations to reduce emissions by half by 2030 and eliminate them entirely by 2040.
- Investments to generate 1.35 GW of hydrogen, sufficient to power a city like Liverpool. Carbon capture to capture 1.8 million tonnes per annum, equivalent to removing 750,000 cars from the roads.
- 85% Reduction in CO2 emissions by FY 2035 (Target: < 0.3 T per T of steel) for Green Steel Arabia
Social Achievements
- Essar Foundation has a rich heritage of 50 years of service across Pan-India; in health, education, livelihood, women empowerment, sports, environment and infrastructure.
- Pluckk CSR initiatives: Reduce food wastage (savings of 2 Mn kgs of good), Plastic neutrality (6 tons of plastic recycled), Women empowerment (50% women in labour workforce)
Governance Achievements
- All operating companies have Board of Directors comprising of: Executive Directors, Non-Executive Directors (Independent and Nominee), Investor Directors
- Committees with delegated powers for focused oversight: Audit, Nomination and Remuneration Committee (NRC), Corporate Social Responsibility (CSR), Risk, Reputation & Regulatory, Group Monitoring Committee
Climate Goals & Targets
Long-term Goals:
- Net zero emissions by 2040 for Essar's refinery operations
- To build fresh food FMCG unicorn with revenue of 1000+ crs and 10% EBITDA by 2028
Medium-term Goals:
- To become India’s top 3 Multi-Modal Green Port Operators by 2030
- To become MENA region’s First Green Steel Complex – by 2030
- To become World’s leading EPC Company by 2030
- To become India’s largest green fleet operator by 2025
- 95% CO2 Reduction by FY30 for EET Fuels
Short-term Goals:
- Greenline plans to introduce 3500 LNG Trucks and 1000 Electric Trucks to meet the customer demand in FY2025
Environmental Challenges
- Not disclosed
Mitigation Strategies
- Not disclosed
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: Null
Certifications: Null
Third-party Assurance: Not disclosed
UN Sustainable Development Goals
- SDG 7
- SDG 13
- SDG 9
- SDG 12
- SDG 17
Essar is demonstrating its commitment to the UN Sustainable Development Goals (SDGs) and its role as a ‘responsible global corporate citizen’.
Sustainable Products & Innovation
- Not disclosed
Awards & Recognition
- Not disclosed
Reporting Period: 2024
Environmental Metrics
Total Carbon Emissions:Not disclosed
Scope 1 Emissions:Not disclosed
Scope 2 Emissions:Not disclosed
Scope 3 Emissions:Not disclosed
Renewable Energy Share:Not disclosed
Total Energy Consumption:Not disclosed
Water Consumption:Not disclosed
Waste Generated:Not disclosed
Carbon Intensity:Not disclosed
ESG Focus Areas
- Decarbonisation
- Decentralisation
- Digitalisation
Environmental Achievements
- Essar's refinery operations to reduce emissions by half by 2030 and eliminate them entirely by 2040.
- Investments to generate 1.35 GW of hydrogen, sufficient to power a city like Liverpool. Carbon capture to capture 1.8 million tonnes per annum, equivalent to removing 750,000 cars from the roads.
- Use of natural gas and renewables to minimize carbon footprint in Odisha steel plant. MoUs in place with Essar Power’s planned solar plants. Efficient Logistics: 245-km slurry pipeline for green, sustainable, and efficient logistics. Return water pipeline aligned with the zero water discharge principle.
Social Achievements
- Essar Foundation's work in health, education, livelihood, women empowerment, sports, environment and infrastructure. Provided 2,000,000 Meals, 155,000 Medical Supplies, 700,000 Sanitary Napkins.
- Avid Learning, Essar's cultural philanthropy arm, provides thought-provoking programs impacting cultural policy, education, and the creative sector in India.
Governance Achievements
- All operating companies have Boards of Directors comprising Executive Directors, Non-Executive Directors (Independent and Nominee), and Investor Directors. Sub-committees with delegated powers for focused oversight (Audit, NRC, CSR). Group Monitoring Committee oversees strategic investments, reviews annual business plans, ensures management alignment, develops sustainable financing strategies, maintains financial policies, recommends shareholder nominees, implements risk management, and enhances brand perception.
Climate Goals & Targets
Long-term Goals:
- Essar's refinery operations to eliminate emissions entirely by 2040.
Medium-term Goals:
- Essar's refinery operations to reduce emissions by half by 2030.
Short-term Goals:
- Not disclosed
Environmental Challenges
- Not disclosed
Mitigation Strategies
- Not disclosed
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: Null
Certifications: Null
Third-party Assurance: Not disclosed
UN Sustainable Development Goals
- SDG 7
- SDG 13
- SDG 9
- SDG 12
- SDG 17
Essar's investments in clean energy, sustainable mining, and green steel initiatives align with the global need for net-zero emissions and positive impact. Their focus on infrastructure for a shared economy and leveraging AI for distribution networks also contributes to relevant SDGs.
Sustainable Products & Innovation
- Green ammonia, green hydrogen, green steel
Awards & Recognition
- Not disclosed