KARACHI: The Agha Steel Industries Ltd has signed the Sustainable Development Goals (SDGs) Charter, a voluntary initiative that encourages companies to align their strategies and operations with the goals.
Set forth by the United Nations, the SDGs aim to end poverty, protect the planet, and ensure prosperity for all. As a corporate entity, Agha Steel recognises its responsibility towards contributing to a sustainable future for all and is dedicated to aligning its business practices with the SDGs.
In pursuit of this commitment, Agha Steel has signed the SDG Charter, a voluntary initiative that encourages companies to align their strategies and operations with the SDGs. By signing the Charter, Agha Steel is demonstrating its dedication to contributing to a sustainable future for all.
This commitment to the SDGs will guide the company's business decisions and actions, with the integration of sustainability into all aspects of its operations.
Hussain Agha, CEO of Agha Steel Industries, has said that Agha Steel commitment to the SDGs is a reflection of our belief that businesses have a responsibility to contribute to society and the planet. “We are proud to join other leading global companies in the SDG Charter initiative and look forward to working towards a more sustainable future together", he added.
Agha Steel has committed to four SDGs that align with its business practices, namely SDG 7: Affordable and Clean Energy, SDG 9: Industry Innovation and Infrastructure, SDG 11: Sustainable Cities and Communities, and SDG 12: Responsible Consumption and Production. The company will monitor its progress towards these goals and report on its sustainability performance regularly.
Agha Steel's commitment towards the SDGs is a significant step towards building a better future and leaving a lasting legacy for generations to come. The company's efforts towards achieving these goals can make a positive impact on both the environment and society.
Agha Steel Industries commenced the Green Steel Revolution through ESG initiatives by inaugurating a 2.25-Megawatt solar power project and signing a term sheet with Engro Energy for further Renewable Energy commitments.
It is estimated that once Agha Steel installs MiDa technology in 2023, it would reduce its electricity consumption by a hefty 20 percent and its production losses in terms of raw material would be reduced by 8 percent.
Hussain Agha said that Agha Steel utilizes scrap-based Electric Arc Furnace (EAF) technology for producing 100 percent refined green steel. “By using recycled scrap for our raw material, we reduce the need for natural resources.
Our CO2 Scope 1 greenhouse gas emissions and energy consumption intensities are approximately 7 times less than the global steelmaking average, making the Green Arc Furnace Technology environmentally friendly, he added.
Copyright Business Recorder, 2023
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