{"id":33658,"date":"2024-12-13T18:31:07","date_gmt":"2024-12-13T13:01:07","guid":{"rendered":"https:\/\/www.nextias.com\/ca\/?p=33658"},"modified":"2024-12-13T18:31:09","modified_gmt":"2024-12-13T13:01:09","slug":"india-green-steel-taxonomy","status":"publish","type":"post","link":"https:\/\/www.nextias.com\/ca\/current-affairs\/13-12-2024\/india-green-steel-taxonomy","title":{"rendered":"India\u2019s Green Steel Taxonomy"},"content":{"rendered":"\n

Syllabus: GS3\/ Environment<\/strong><\/p>\n\n\n\n

In News<\/strong><\/h2>\n\n\n\n
    \n
  • India is the first country globally to define a taxonomy for green steel<\/strong>. The Taxonomy marks a milestone in India’s decarbonization journey in the steel sector.<\/li>\n<\/ul>\n\n\n\n

    What is the Green Steel Taxonomy?<\/strong><\/h2>\n\n\n\n
      \n
    • Definition:<\/strong> It’s a framework that defines “green steel” based on its carbon emission intensity<\/strong>. This is the first such taxonomy globally, making India a pioneer in setting standards for sustainable steel production.<\/li>\n\n\n\n
    • Key Features:<\/strong>\n
        \n
      • Emission Intensity Threshold:<\/strong> Steel is considered “green” if its CO2 equivalent emission intensity is less than 2.2 tonnes of CO2e per tonne of finished steel.<\/li>\n\n\n\n
      • Star Rating System: <\/strong>A star rating system categorizes green steel based on emission intensity:\n
          \n
        • Five-star:<\/strong> < 1.6 tCO2e\/tfs<\/li>\n\n\n\n
        • Four-star: <\/strong>1.6 – 2.0 tCO2e\/tfs<\/li>\n\n\n\n
        • Three-star:<\/strong> 2.0 – 2.2 tCO2e\/tfs<\/li>\n<\/ul>\n<\/li>\n\n\n\n
        • Scope of Emissions: <\/strong>Includes Scope 1 (direct emissions), Scope 2 (indirect emissions from energy consumption), and limited Scope 3 emissions (indirect emissions from the supply chain).<\/li>\n\n\n\n
        • Nodal Agency: <\/strong>The National Institute of Secondary Steel Technology (NISST) will be responsible for measurement, reporting, verification (MRV), and issuing greenness certificates.<\/li>\n\n\n\n
        • Review: <\/strong>The emission intensity threshold will be reviewed every three years to ensure continuous improvement.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n\n\n\n

          Benefits of Green Steel Taxonomy\u00a0<\/strong><\/h2>\n\n\n\n
            \n
          • Environmental Sustainability:<\/strong> Promotes decarbonization of the steel sector, a major contributor to greenhouse gas emissions.<\/li>\n\n\n\n
          • Global Leadership<\/strong>: Establishes India as a frontrunner in defining green steel standards.<\/li>\n\n\n\n
          • Market Creation:<\/strong> Drives demand for low-carbon steel products and encourages innovation in sustainable steelmaking technologies.<\/li>\n\n\n\n
          • Policy Coherence: <\/strong>Provides a clear framework for developing policies and incentives to support green steel production.<\/li>\n<\/ul>\n\n\n\n

            Challenges<\/strong><\/h2>\n\n\n\n
              \n
            • Implementation: <\/strong>Meeting the emission intensity targets will require significant investments and technological advancements.<\/li>\n\n\n\n
            • Data Collection and MRV:<\/strong> Accurate and reliable measurement, reporting, and verification of emissions will be crucial.<\/li>\n\n\n\n
            • Competitiveness: <\/strong>Ensuring that Indian steel remains competitive in the global market while meeting the green steel criteria.<\/li>\n<\/ul>\n\n\n\n

              Initiatives to Decarbonise Steel Sector in India<\/strong><\/h2>\n\n\n\n
                \n
              • National Mission on Green Steel (NMGS):<\/strong> This mission aims to provide a framework for the transition to green steel production, including financial incentives, R&D support, and policy interventions.<\/li>\n\n\n\n
              • Green Steel Public Procurement Policy (GSPPP): <\/strong>This policy will promote the use of green steel in government procurement, creating a market for low-carbon steel products.<\/li>\n\n\n\n
              • Steel Scrap Recycling Policy 2019:<\/strong> Encourages the use of scrap in steel production, reducing reliance on primary production routes that are more carbon-intensive.<\/li>\n\n\n\n
              • Perform, Achieve and Trade (PAT) Scheme: <\/strong>Incentivizes energy efficiency improvements in the steel sector.<\/li>\n\n\n\n
              • Carbon Capture, Utilization and Storage (CCUS):<\/strong> While still in early stages of development in India, CCUS technologies have the potential to capture and store carbon emissions from steel plants.<\/li>\n<\/ul>\n\n\n\n

                Source: PIB<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

                India is the first country globally to define a taxonomy for green steel. The Taxonomy marks a milestone in India’s decarbonization journey in the steel sector.<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[21],"tags":[],"class_list":["post-33658","post","type-post","status-publish","format-standard","hentry","category-current-affairs"],"acf":[],"jetpack_featured_media_url":"","_links":{"self":[{"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/posts\/33658","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/comments?post=33658"}],"version-history":[{"count":1,"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/posts\/33658\/revisions"}],"predecessor-version":[{"id":33660,"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/posts\/33658\/revisions\/33660"}],"wp:attachment":[{"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/media?parent=33658"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/categories?post=33658"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/tags?post=33658"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}