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In a step toward decarbonising the steel sector in alignment with the net-zero emission intensity target by 2070, the Union Minister of Steel & Heavy Industries recently unveiled the Taxonomy of Green Steel for India during an event held at Vigyan Bhavan.
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Salient Features of Green Steel Taxonomy
“Green Steel” shall be defined in terms of the percentage greenness of the steel produced from the steel plant with CO2 equivalent emission intensity of fewer than 2.2 tonnes of CO2e per tonne of finished steel (tfs).
The greenness of the steel shall be expressed as a percentage, based on how much the steel plant’s emission intensity is lower compared to the 2.2 t-CO2e/tfs threshold.
Based on the greenness, the Green Steel shall be rated as follows:
Steel with emissions above 2.2 t-CO2e/tfs will not be eligible for green rating.
The thresholds for the star ratings will be reviewed every three years.
Emissions considered will include Scope 1, Scope 2, and limited Scope 3 (up to finished steel production).
Scope 3 emissions cover:
Scope 3 does not include:
The National Institute of Secondary Steel Technology (NISST) will oversee the Measurement, Reporting, and Verification (MRV) process and issue greenness certificates and star ratings.
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