Clean technologies no longer a choice but a necessity for steel industry: Minster Kumaraswamy
Adopting low-carbon emitting technologies to produce green steel is no longer a choice but a necessity, Union Minister H D Kumaraswamy said as he emphasized on the urgency for taking steps towards decarbonisation. The Minister for Steel made the remarks addressing 'BigMint Future Steel Conclave' organised with a focus on innovation and usage of emerging technologies in the steel sector. The green steel taxonomy is shaping up well to provide clear guidance and incentives. Green steel and clean technologies are no longer a choice but a necessity, the minister said in a virtual address on Wednesday.
"Under the visionary leadership of Prime Minister Narendra Modi our steel industry is on a fast track with the bold target of reaching 300 million tonnes capacity by 2030. Our commitment is not only expansion but also sustainability in line with our net zero by 2070 pledge," Kumaraswamy said. In December 2024, the government came out with the definition of Green Steel and urged the industry to take measures to bring down carbon emissions below the level of 2.2 tonnes on per tonne of finished products.
The steel industry accounts for around 7 per cent of global CO2 emissions and India, the second largest producer of steel, has both the responsibility and the opportunity to lead the charge in reducing emissions, while maintaining growth, Kumaraswamy had said while releasing the taxonomy on green steel for giving star ratings on products based on the amount of carbon dioxide (CO2) emitted during the production process. The new framework will guide efforts to decarbonize steel production and encourage green practices across the value chain, the minister said. Speaking further, the Minister said the government is also addressing challenges head-on, be it raw material security like iron ore and coking coal or navigating emerging global head winds.
"The ministry is actively reviewing policies and safeguards to protect and promote our domestic industry ensuring India does not just compete but leads on the global stage," he said.
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