JSW Steel reports 66% decline in fatalities in 2023-24 I CSR in India
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JSW Steel reports 66% decline in fatalities in 2023-24 I CSR in India

MUMBAI (India CSR): JSW Steel Limited released its Integrated Report 2023-24, showing significant improvement in safety performance across its integrated steel plants. Despite the progress, the company reported two deaths among workers, a significant drop from six deaths reported in the previous financial year.

JSW Steel Limited is one of the leading integrated and geographically diversified steel manufacturers in India. The company aims to be a partner in India’s growth story by supplying steel for key infrastructure projects and delivering value-added steel solutions through innovation. Furthermore, JSW Steel is committed to sustainable development and improving the well-being of the wider community.

Key Statistics

  • Domestic production capacity of crude steel: 28.2 million tons per year
  • Expected domestic production capacity by fiscal year 2030-31: 50 tons per year
  • Domestic steel production capacity downstream: ~13.5 million tons per year
  • International presence (raw steel production capacity): 1.5 MNTPA
  • Brand stores added: 364
  • Export footprint: 100+ countries
  • Iron ore mines: 24
  • Direct employees: 25 550
  • Coking coal mines: 03

Commitment to safety

JSW Steel emphasizes that safety is a core value integral to every task, decision and interaction in the company. Their goal is to ensure that every person returns safely to their loved ones every day. The company strives to promote a culture of safety by continuously improving its safety management systems through effective leadership, sound systems and a competent workforce.

Safety performance indicators

The report highlights key safety indicators for the financial year:

  • Fatalities: 2 (66% decrease year over year)
  • Lost Time Injuries (LTI): 16 (56% decrease year-on-year)

By 2030, JSW Steel aims to be recognized as one of the safest organizations in the world, achieving the highest safety standards in order to increase productivity to its full potential.

Leading Safety Indicators

  • Safety notes: 520,000+
  • Planned security inspections and audits: 111,000+
  • Completed e-learning modules on security: 15,000
  • Corrective and preventive actions implemented: 93%
  • Contractors assessed under CARES (Contractor Assessment and Rating for Safety Excellence): 4400

The company’s Lost Time Injury Rate (LTIFR) for 2023-24 was 0.095, a significant improvement over previous years.

Security initiatives and achievements

JSW Steel has implemented several key safety initiatives, contributing to significant improvements in safety performance. These include:

  • Cluster of Excellence – Safety Program
  • Employee Engagement Programs
  • Skills Assessments for New Contract Employees
  • Practical security training in security experience centers and MySet sessions
  • Process Safety Management (PSM) Initiatives
  • Digitalization of critical security processes
  • Robust Contractor Safety Management Under CARES
  • Structured Security Leadership Development Programs for Senior Leaders

The introduction of the Corrective and Preventive Actions (CAPA) module on the MySet platform was a significant step towards streamlining the horizontal implementation of lessons learned from previous incidents. This initiative aims to improve safety practices and prevent recurrence of incidents at JSW Steel plants.

JSW Steel reports 66% decline in fatalities in 2023-24 I CSR in India

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Safety performance indicators

The table presents a detailed comparison of JSW Steel’s safety indicators among employees over the last two financial years.

Safety Index Employees Employees Total
Lost Time Injury Incidence Rate (LTIFR)
Tax year 2023-24 0.11 0.09 0.095
Tax year 2022-23 0.33 0.19 0.26
Total number of recorded work-related injuries
Tax year 2023-24 8 75 83
Tax year 2022-23 25 104 129
Number of deaths
Tax year 2023-24 0 2 2
Tax year 2022-23 0 6 6
Injuries or occupational diseases of major importance
Tax year 2023-24 3 13 16
Tax year 2022-23 0 44 44

Vision 2030 – Zero Harm

JSW Steel has formulated a comprehensive safety vision, “Vision 2030 – Zero Harm”, setting ambitious goals to achieve zero fatalities, zero lost time injuries and zero injuries in the next few years. By 2030, JSW Steel aims to be recognized as the safest organization in the world, where implementation of the highest safety standards leads to the highest level of productivity.

Looking to the future

Safety will continue to be an area of ​​utmost importance for JSW Steel. The company is committed to its goal of zero harm and will continually work to establish industry-leading safety standards and practices.

The company’s commitment to safety and continuous improvement demonstrates its dedication to the well-being of its employees, contractors, associates, partners and guests, ensuring a safer and more productive work environment for all.

Key Facts: Security 2023-24

The key facts presented below highlight the significant improvement in JSW Steel’s safety performance over the past year.

Metric Tax year 2023-24 Tax year 2022-23 Change
Fatalities 2 6 -66%
Lost Time Injuries (LTI) 16 25 -36%
Lost Time Injury Incidence Rate (LTIFR) 0.095 0.32 -70%
Safety observations 520,000+
Planned security checks and audits 111,000+
Completed e-learning modules on safety 15,000
Corrective and preventive actions implemented 93%
Contractors assessed for CARES 4400
Total number of recorded work-related injuries 83 129 -36%
Injuries or occupational diseases of major importance 16 44 -64%

(CSR in India)