Government's Green Transition Plan for Steel Sector
Key Ideas
- Government is implementing measures like the National Green Hydrogen Mission to promote green hydrogen production and usage in the steel sector.
- Policy initiatives such as the Steel Scrap Recycling Policy and Motor Vehicles Rules aim to increase the availability of domestically generated scrap for steel making, reducing carbon emissions.
- Implementation of the Perform, Achieve and Trade scheme incentivizes the steel industry to enhance energy efficiency.
- These actions are part of a comprehensive roadmap and action plan for the green transition of the steel sector.
The Indian government has announced various measures to address challenges like decarbonisation and the European Union's Carbon Border Adjustment Mechanism. The Ministry of Steel has formulated a roadmap and action plan after consulting stakeholders to facilitate the green transition of the steel sector. Key policy initiatives include the National Green Hydrogen Mission, which promotes the production and use of green hydrogen in steel manufacturing. Additionally, policies like the Steel Scrap Recycling Policy and Motor Vehicles Rules have been introduced to boost the availability of scrap for steel production, thereby reducing carbon emissions. The implementation of the Perform, Achieve and Trade scheme under the National Mission for Enhanced Energy Efficiency incentivizes the steel industry to improve energy efficiency. These initiatives showcase the government's commitment to a more sustainable and environmentally friendly steel sector.