Sustainability at the Core: How IT Is Pioneering Change at Shyam Steel


Prakash Tripathi, the Chief Information Officer at Shyam Steel Industries Limited, is at the helm of driving the company’s technological advancements and sustainability initiatives. With a robust background in IT and leadership, Prakash has been instrumental in modernizing the IT infrastructure at Shyam Steel and aligning it with the company’s Environmental, Social, and Governance (ESG) goals. His previous experiences with notable organizations such as Giesecke+Devrient Currency Technology, RICOH Company Limited & Shriram Finance Limited have equipped him with the expertise to lead Shyam Steel toward a more sustainable and innovative future. The C-Suite Circle team engaged with Prakash Tripathi to gain insights into his perspectives on ESG strategy, modernization, and the critical role of technology in driving sustainability. Edited excerpts:

What are Your Views on your Organisation’s ESG Strategy, where do you see the organisation heading, why do you think ESG is important for an Organisation, and how are you driving the ESG strategy?

 

At Shyam Steel, we are dedicated to improving our Environmental, Social, and Governance (ESG) practices. This means we focus on being environmentally friendly, and socially responsible, ensuring good governance in all our operations. I see Shyam Steel becoming a leader in sustainable steel production. Our efforts in ESG will help us innovate and adapt to future challenges, setting new standards in the industry.

Why ESG is Important:

• Sustainability: ESG practices help us manage risks and comply with environmental regulations.
• Reputation: Being committed to ESG enhances our brand and builds trust with customers and stakeholders.
• Investment: Companies that focus on ESG attract more investors who care about sustainability.
• Employee Satisfaction: Strong ESG values help us attract and retain talented employees who share these values.
• Regulatory Compliance: Staying ahead of regulations reduces legal and financial risks.

How We’re Driving ESG:

• Using Technology: We use digital tools to track and report our ESG progress, ensuring transparency.
• Engaging Stakeholders: We involve employees, distributors, and communities in our ESG initiatives.
• Innovating Processes: We implement green technologies and sustainable practices to reduce our environmental impact.
• Training: We provide regular training to our employees to understand and support our ESG goals.
• Collaborating: We partner with other organizations to share best practices and drive collective impact.

 

It is so important today, for IT professionals to be business-oriented professionals too, to understand the business, and to get close to the business. When It comes to sustainability, there is no difference you have to be connected to the company’s strategy. How IT can drive the sustainability agenda?

 

IT professionals are key drivers of sustainability in organizations, particularly in industries with significant environmental impacts like steel manufacturing. By optimizing data centres, leveraging cloud computing, and promoting green IT practices, they help reduce energy consumption and carbon footprints. Sustainable software development also plays a crucial role, focusing on creating eco-friendly code and ensuring applications are designed with lifecycle management in mind. Data and analytics are essential for tracking sustainability metrics, enabling informed decisions, and optimizing operations through predictive analysis. Digital transformation, such as moving towards paperless operations and supporting remote work, further contributes to sustainability by reducing traditional office carbon footprints. In supply chain management, IT ensures sustainable sourcing and transparency through technologies like blockchain. Finally, IT facilitates regulatory compliance, automates sustainability reporting, and fosters innovation in smart technologies and renewable energy solutions. These efforts align business operations with environmental goals, reinforcing the role of IT in driving the sustainability agenda.

 

What should you be recommending or telling the Peers, that their teams should be doing to support sustainability initiatives in IT focusing on The Role Of Technology?

 

To support sustainability initiatives in IT, CIOs should recommend optimizing energy use by adopting energy-efficient devices and ensuring equipment is powered down when not in use. Emphasizing digital transformation, they should promote going paperless, using cloud solutions, and adopting green software that minimizes energy consumption. Additionally, proper e-waste recycling practices and encouraging remote work can significantly reduce the environmental impact. Monitoring energy usage and regularly reporting on sustainability progress are crucial, as are educating and involving teams in sustainable practices. These steps align IT operations with broader environmental objectives, driving a more sustainable future.

 

 

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