India set to unveil green steel formula

India is set to announce a formula for defining “green steel” by mid-December and is also working on government procurement plans for decarbonized steel, according to a government source familiar with the matter.

Green steel refers to steel produced through methods that drastically reduce greenhouse gas emissions and environmental impact. Traditional steel production is a significant contributor to global carbon emissions, responsible for around 7-9% of total emissions.

Green steel production methods include:

1. Hydrogen reduction: Using hydrogen instead of coal or natural gas to reduce iron ore, eliminating carbon emissions.
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2. Electric arc furnaces: Using electricity from renewable sources to power furnaces, reducing dependence on fossil fuels.
3. Carbon capture and storage: Implementing technologies to capture CO2 emissions from steel production and store them underground.
4. Recycling: Increasing the use of recycled steel to reduce the need for primary steel production.
5. Biomass-based steel production: Using biomass (e.g., waste wood) as a reducing agent instead of coal or natural gas.

The benefits of green steel include:

– Reduced carbon footprint

– Lower environmental impact

– Improved energy efficiency

– Enhanced brand reputation

– Compliance with increasingly stringent environmental regulations