According to latest reports India’s steel industry will set more than triple its carbon footprint by 2050, owning to growing demand for steel in the world’s second-biggest producer.
Sources allege, carbon dioxide emissions from the steel industry are projected to soar to 837 million tonnes over the next three decades from 242 million tonnes. The rise is attributed to the demand for steel in the country which has quadrupled to about 490 million tonnes, as stated by the Energy and Resources Institute. Furthermore, it will contribute more than a third of the nation’s total fossil fuel combustion emissions from the present 12%.
India is home to 977 steel plants and hence hails significant global demand. Furthermore, Prime Minister Narendra Modi has introduced a plans to spend about $1.5 trillion owning to up gradation and infrastructure building over the next five years. Steel however has become the largest source for carbon dioxide emission across Indian industries.
In the wake of the situation, Will Hall, associate fellow at TERI, suggested, in the future, mills should therefore maximize the use of domestic scrap steel, improve energy efficiency, in addition also establish pilot plants to test emerging low carbon technologies.
Furthermore, success in the electricity sector with the growth of wind and solar, action in heavy industry, like iron and steel, will be more challenging.
A statement by TERI owning to the latest news suggests introduction of a penalty for emissions in the steel sector from 2030 onward would pave way to the industry to start planning for deeper decarbonisation technologies. Substitution of coal or natural gas as a reducing agent with hydrogen would further also curb India’s import dependency while cutting emissions.