India's Steel Sector Transition Towards Net-Zero: Green Hydrogen Focus
Key Ideas
- Government of India aims for Net-Zero emissions by 2070 with short-term focus on energy efficiency and renewable energy in steel industry.
- Medium-term strategies include utilization of Green Hydrogen and Carbon Capture technologies.
- Ministry of New and Renewable Energy launches National Green Hydrogen Mission with significant allocation for steel sector.
- India's steel exports face challenges due to EU and UK Carbon Border Adjustment Mechanism regulations.
The Ministry of Steel in India is actively working towards achieving a Net-Zero target by 2070. In the short term, the focus is on reducing carbon emissions in the steel industry through energy and resource efficiency and promoting renewable energy. Medium-term goals encompass utilizing Green Hydrogen and Carbon Capture technologies. The Ministry of New and Renewable Energy has launched the National Green Hydrogen Mission, with a substantial allocation to promote Green Hydrogen usage in the iron and steel sector. The steel industry is encouraged to adopt Best Available Technologies and participate in schemes like the Carbon Credit Trading Scheme to incentivize emissions reduction. However, India's steel exports to the European Union and the UK face challenges due to the implementation of Carbon Border Adjustment Mechanism regulations. The Ministry of Steel's efforts include task forces engaging various stakeholders to discuss decarbonization strategies and the adoption of global energy efficiency improvement projects. These initiatives aim to modernize the steel sector and align it with global sustainability goals.
Topics
India
Renewable Energy
Technology
Energy Efficiency
Decarbonisation
Steel Industry
Carbon Footprint
Exports
Carbon Trading
Latest News