INDIA’S steel sector could make or break a key global decarbonization objective, according to a non-profit that tracks energy infrastructure.
While China still dominates in terms of operating capacity, India is the most polluting steelmaker and has the largest pipeline, with more than 350 million tons per year at various stages of development. Much of the upcoming furnaces will be fed by coal, as the country still lacks the scrap feedstock used in cleaner production methods.
“India is now the bellwether of global steel decarbonization,” Astrid Grigsby-Schulte, a project manager at Global Energy Monitor, said in a statement. “If the country does not increase its plans for green steel production, the entire sector will miss an important milestone.”
New data from GEM suggest that by 2030 the share of steel made without the use of coal as feedstock may reach 36% of the total, close to a 37% target set by the International Energy Agency. The goal is part of a global scenario in which all energy sources contribute to reaching the sector’s net-zero emissions by mid century.
The steel industry is one of the world’s largest carbon emitters, contributing to over 10% of the total, mainly through coal-based blast furnaces, according to GEM. Countries are seeking to transition to less polluting technologies such as electric arc furnaces and direct reduced iron. –BLOOMBERG
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