Green steel is produced through innovative methods that notably lower carbon emissions compared to traditional steelmaking processes. This reduction is accomplished by harnessing low-carbon energy sources, such as hydrogen, coal gasification, or electricity, in place of the conventional, carbon-heavy coal-fired methods.
India’s steel industry is responsible for roughly 10-12% of the nation’s total carbon emissions. Transitioning to green steel is vital for India to fulfill its climate commitments and significantly diminish its carbon footprint.
The Indian government is actively formulating a green steel policy aimed at boosting the production of environmentally friendly steel. This strategy includes contemplating government procurement of green steel and providing incentives for smaller steel producers to adopt sustainable production methodologies.
Indeed, several Indian steel manufacturers are making strides in investing in green steel. For example, JSW Steel plans to leverage energy from an upcoming hydrogen plant at its Vijayanagar facility to produce green steel within the next 18–24 months.
India faces several challenges in embracing green steel technologies. These challenges include high production costs, the necessity for considerable infrastructure investment, and the availability of raw materials such as green hydrogen. Moreover, aligning with international standards and managing the transition away from traditional methods presents significant obstacles.
At present, the production of green steel is more costly due to the expenses associated with renewable energy and new technologies. However, as advancements in technology occur and production scales up, costs are anticipated to decrease, making green steel more economically viable.
With robust government support and escalating investments from the private sector, India is on track to become a leader in green steel production. The commitment to sustainability and compliance with international environmental standards will propel the growth of green steel in the country.
Embracing sustainable practices today paves the way for a resilient and prosperous tomorrow.
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