Sarda Energy & Minerals Ltd., one of the leading iron and steel manufacturers, has come out with its Business Responsibility and Sustainability Report for FY 2023-24. This is an integral part of annual disclosures of the company, which further reiterates the commitment of SEML towards sustainable business practices and responsible operations, thus reflecting the greater industry movement of embedding environmental, social, and governance factors into core business strategies.
The report highlights all the major achievements and short- and long-term initiatives of SEML on different facets of business responsibility and sustainability. In this regard, its performance in ensuring energy efficiency and control of emissions is of great significance. In the financial year, SEML continued to implement energy-efficient technologies and expanded the use of renewable energy sources. It is also in the process of installing a 50 MW solar power plant, which is likely to be commissioned during the years 2024–25. The said action was divulged to be in tandem with the overall strategy of SEML to decrease carbon footprints and encourage the usage of green energy.
Apart from this, another major commitment in the report of SEML relates to waste management and resource efficiency. The company has installed a zero liquid discharge system whereby no wastewater generated from its operations is discharged into the environment without proper treatment. Further, SEML has initiated various activities to recycle and reuse production waste, which includes the use of fly ash and slag in construction materials; it therefore reduces the environmental impact of its operations.
On the aspect of social responsibility, SEML has been able to facilitate the aspects of employee welfare and safety. It indicates that it had 100% coverage of health and accident insurance for its permanent workers and employees, clearly indicating that it cares about the workers’ safety. Similarly, SEML focuses on its commitment to maintaining the best workplace standards concerning occupational health and safety through periodic training and auditing of a safe working environment.
Besides this, SEML has been engaging with its stakeholders and, most importantly, local communities to ensure that its operations are conducted in a manner that leaves a positive mark on the areas of its operation. Various corporate social responsibility activities of the company revolve around health, education, and livelihood programs, especially in far-flung and less-developed areas. This will surely uplift the marginal communities and open up avenues for sustainable development.
Conclusion: While SEML attempts to negotiate the headwind and opportunities thrown open by the global march towards sustainability, its BRSR for 2023–24 epitomizes how the company is taking stringent strides in implementing ESG principles. By highlighting energy efficiency, waste management, and social responsibility, SEML works on behalf of not only enhancing the resilience of the business but also supplementing the aspirations of sustainable development. This report once again reassures that SEML is well set to continue leading from the front and keeping its commitment to responsible growth for the benefit of all its stakeholders.
Source: BRSR
Credit: Sarda Energy & Minerals Ltd