India's Green Steel Revolution: Paving the Way for Sustainable Industry

The Indian government's new push towards green steel aims to reduce carbon emissions in the steel industry, increase the use of scrap, and encourage exports. New taxonomy defining green steel with star ratings based on CO2 emissions was released, which experts believe will increase global competitiveness.

The Indian government has launched a renewed push towards green steel, a significant move aimed at ushering in sustainable practices across the steel industry. This initiative is expected to drive decarbonisation, boost the use of scrap materials, and enhance exports, according to industry experts.

Union Steel Minister H D Kumaraswamy rolled out a 'taxonomy on green steel' last week, establishing star ratings for products based on carbon dioxide emissions during production. The sector's leaders have lauded this development, declaring it a pathway to improving international competitiveness.

Experts claim that measures such as shifting to green power and integrating eco-friendly fuels will significantly cut emissions, accounting for 12% of India's emissions. This aligns with India's goal of achieving carbon neutrality by 2070.

(With inputs from agencies.)