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IEA for low and near-zero emissions steel


Why is it in the news?

  • The International Energy Agency (IEA) released a policy brief titled ‘Standards for a Net Zero Iron and Steel Sector in India’, focusing on standards for low and near-zero emissions steel, including emissions measurement methodologies and definitions.
  • Benefits of these standards include increased acceptance of emission-related measures by producers, simplified processes, minimized trade barriers, and improved emissions understanding across various stakeholders.

Initiatives to Standardize the Steel Sector

India

  • Implementation of the Steel Scrap Recycling Policy, 2019.
  • Perform, Achieve and Trade scheme under the National Mission for Enhanced Energy Efficiency incentivizes the steel industry to reduce energy consumption.
  • Ministry of Steel formed 14 Task Forces to support the development of its “Roadmap for Green Steel”.

Global Initiatives

  • COP26 launched the Steel Breakthrough under the Breakthrough Agenda, focusing on definitions and emissions measurement methodologies.
  • Steel Standard Principles were established at COP 28 in 2023 for the development of low/near-zero emissions steel definitions and measurement methodologies.

Measures Required for Standardizing the Steel Sector

  • Setting clear timelines for emissions reduction, measurement methodologies, and defining near-zero steel.
  • Creating markets for low-emissions materials and products and developing novel emissions reduction technologies.
  • Developing policies to support commercial-scale low emissions production and mobilizing finance and investment.
About the Steel Sector in India

路聽聽聽聽聽聽 India is the second-largest steel-producing country, accounting for 7% of total crude steel production.

路聽聽聽聽聽聽 Steel production heavily relies on coal, which is used as a reducing agent to extract iron from iron ore and provide the carbon content needed in steel.

路聽聽聽聽聽聽 India’s steel industry is the largest coal consumer and is responsible for 7鈥9% of global greenhouse gas emissions.

路聽聽聽聽聽聽 The steel industry in India accounts for 12% of carbon dioxide emissions and is expected to double by 2030 due to the government’s infrastructure push.

 

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