{"id":34566,"date":"2024-12-31T18:26:55","date_gmt":"2024-12-31T12:56:55","guid":{"rendered":"https:\/\/www.nextias.com\/ca\/?p=34566"},"modified":"2024-12-31T18:26:57","modified_gmt":"2024-12-31T12:56:57","slug":"green-steel-mission","status":"publish","type":"post","link":"https:\/\/www.nextias.com\/ca\/current-affairs\/31-12-2024\/green-steel-mission","title":{"rendered":"Green Steel Mission: To Help Steel Industry Cut Carbon Emissions"},"content":{"rendered":"\n<p><strong>Syllabus: GS3\/Economy;<\/strong><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Context<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Recently, the Indian government has unveiled a comprehensive roadmap known as the <strong>Green Steel Mission<\/strong>, worth Rs 15,000 crore aimed at reducing carbon emissions in the steel industry.<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><a href=\"https:\/\/www.nextias.com\/ca\/current-affairs\/06-09-2024\/govt-sets-target-of-500-million-tonnes-steel-production-by-2034\"><strong><u>Steel Sector in India<\/u><\/strong><\/a><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Production<\/strong>: India\u2019s crude steel capacity reached 179.5 million tonnes in 2023-24. The production of finished steel, including alloy and non-alloy, has shown a consistent increase, with 139.15 million tonnes produced in 2023-24.\n<ul class=\"wp-block-list\">\n<li>The <strong>private sector<\/strong> dominates steel production, contributing about 83% of the total crude steel output.<\/li>\n\n\n\n<li><strong>National Steel Policy 2017 <\/strong>aims to create a technologically advanced and globally competitive steel industry, targeting a production capacity of <strong>300 million tonnes by 2030-31.<\/strong><\/li>\n<\/ul>\n<\/li>\n\n\n\n<li><strong>Consumption of Steel: <\/strong>The total consumption of finished steel was around 75.6 million tonnes during April-October 2024.\n<ul class=\"wp-block-list\">\n<li>The per-capita consumption of steel stood at 86.7 kgs in FY23.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Green Steel Mission<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>It is aimed at <strong>decarbonizing the steel sector<\/strong> and aligning it with <strong>India&#8217;s net-zero emission targets by 2070<\/strong>.<\/li>\n\n\n\n<li><strong>Key Components<\/strong><\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Production-Linked Incentive (PLI) Scheme for Green Steel:<\/strong> It aims to encourage the production of green steel, and attract investments and boost the domestic manufacturing of specialty steel, reducing reliance on imports.<\/li>\n\n\n\n<li><strong>Incentives for Renewable Energy: <\/strong>To promote the use of renewable energy in steel production, the mission includes various incentives.\n<ul class=\"wp-block-list\">\n<li>It aims to help in reducing the carbon footprint of the steel industry.<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li><strong>Mandates for Government Agencies:<\/strong> Government agencies are now required to purchase green steel, which will drive demand and support the industry\u2019s transition to more sustainable practices.<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>\u00a0The Benefits of Decarbonizing the Steel Industry<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Positive impact on the global climate: <\/strong>The primary benefit of reducing steel sector emissions is the positive impact on the global climate.\n<ul class=\"wp-block-list\">\n<li>Lowering emissions from steel production can help limit global temperature rise, contributing to the achievement of climate targets under the Paris Agreement.<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li><strong>Health and Environmental Protection: <\/strong>By adopting cleaner technologies, steel plants can reduce pollution levels, improving air and water quality.\n<ul class=\"wp-block-list\">\n<li>This will reduce the negative health impacts on local communities and prevent environmental degradation.<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li>The<strong> transition to green steel<\/strong> can create <strong>new jobs in renewable energy,<\/strong> technology development, and infrastructure<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Related policies and initiatives taken for promoting decarbonisation in steel industry\u00a0<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Task Forces<\/strong>: 14 task forces were created involving industry, academia, think tanks, and government bodies to recommend decarbonisation strategies for the steel sector.<\/li>\n\n\n\n<li><strong>Steel Scrap Recycling Policy (2019<\/strong>)enhances the availability of domestically generated scrap, promotes a circular economy, and facilitates the establishment of metal scrapping centers for recycling ferrous scrap, including End-of-Life vehicles (ELVs).<\/li>\n\n\n\n<li><strong>Vehicle Scrapping Policy (2021)<\/strong> Increases scrap availability for the steel sector by implementing the Motor Vehicles (Registration and Functions of Vehicles Scrapping Facility) Rules under the Motor Vehicles Act.<\/li>\n\n\n\n<li><strong>National Solar Mission (2010)<\/strong> promotes solar energy usage, contributing to emission reductions in the steel industry.<\/li>\n\n\n\n<li><strong>Perform, Achieve and Trade (PAT) Scheme<\/strong> Incentivize energy efficiency improvements in the steel industry.\u00a0<\/li>\n\n\n\n<li><strong>Integrating National Green Hydrogen Mission:<\/strong> Announced by the Ministry of New and Renewable Energy (MNRE) to support green hydrogen production, with the steel sector as a key stakeholder.\n<ul class=\"wp-block-list\">\n<li>The steel sector is integrated into the National Green Hydrogen Mission, which focuses on producing and using green hydrogen. It is crucial for decarbonizing steel production.<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li><strong>Green Steel Taxonomy: <\/strong>India has introduced a taxonomy for green steel, defining and categorizing low-emission steel.\n<ul class=\"wp-block-list\">\n<li>It helps in creating a market for green steel and facilitates financial support for green initiatives.<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li><strong>Carbon Credit Trading Scheme (CCTS)<\/strong> notified in June 2023 to reduce emissions across sectors, including steel, through a carbon credit certificate trading mechanism.<\/li>\n\n\n\n<li>The Ministry of Steel has launched several pilot projects under the Green Steel Mission.\n<ul class=\"wp-block-list\">\n<li>These projects focus on<strong> producing Direct Reduced Iron (DRI) using 100% hydrogen<\/strong> and <strong>reducing coal\/coke consumption<\/strong> in existing blast furnaces.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Conclusion and Way Forward\u00a0<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Reducing carbon emissions in the steel industry is an urgent need to combat climate change and ensure sustainable growth.\u00a0<\/li>\n\n\n\n<li>By focusing on energy efficiency, renewable energy adoption, green hydrogen, and carbon capture technologies, the steel sector can significantly lower its carbon footprint.<\/li>\n\n\n\n<li>Collaboration between the government, industry players, and research organizations is essential to accelerate the transition toward a greener, more sustainable steel industry.<\/li>\n<\/ul>\n\n\n\n<p><a href=\"https:\/\/ddnews.gov.in\/en\/govt-rolling-out-rs-15000-crore-roadmap-to-help-steel-industry-cut-carbon-emissions\/\" target=\"_blank\" rel=\"noopener\">Source: DD News<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Recently, the Indian government has unveiled a comprehensive roadmap known as the Green Steel Mission, worth Rs 15,000 crore aimed at reducing carbon emissions in the steel industry.<\/p>\n","protected":false},"author":15,"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-34566","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\/34566","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\/15"}],"replies":[{"embeddable":true,"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/comments?post=34566"}],"version-history":[{"count":1,"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/posts\/34566\/revisions"}],"predecessor-version":[{"id":34567,"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/posts\/34566\/revisions\/34567"}],"wp:attachment":[{"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/media?parent=34566"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/categories?post=34566"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/tags?post=34566"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}