(MENAFN- KNN India)
New Delhi, Dec 12 (KNN) In a landmark event at Vigyan Bhavan on Thursday, Union Minister for Steel and Heavy Industries, HD Kumaraswamy, officially launched India's Green Steel Taxonomy, a pioneering framework designed to decarbonise steel production and promote eco-friendly practices in the sector.
The initiative marks a significant step towards aligning India's steel industry with global sustainability objectives.
Kumaraswamy stressed the urgency of transforming the steel sector, which accounts for around 7 per cent of global CO2 emissions, and highlighted Prime Minister Narendra Modi's vision for a green future.
"The Indian steel sector is poised to lead the global transition to sustainable practices, while continuing its growth under the leadership of Hon'ble Prime Minister Narendra Modi," Kumaraswamy stated, emphasising the balance between industrial progress and environmental responsibility.
The Green Steel Taxonomy provides a comprehensive framework aimed at encouraging green technologies, recycling, and innovation.
It includes the National Mission on Green Steel, which focuses on three key priorities: promoting green technologies like hydrogen-based production and carbon capture, advancing circularity through recycling, and fostering R&D for sustainable methods.
This framework is expected to help India meet its Paris Agreement commitments while maintaining competitiveness in the global steel market.
Kumaraswamy expressed his gratitude to all stakeholders involved, from steel producers to policymakers, and called for continued collaboration to meet the ambitious goals outlined in the National Mission on Green Steel. "With collective effort, India will emerge as a global leader in green steel production," he declared.
Attended by several key figures including Minister of State for Steel and Heavy Industries Bhupathi Raju Srinivasa Varma, Steel Secretary Sandeep Poundrik, and SAIL Chairman Amarendu Prakash, the event underscored the government's commitment to sustainable practices in one of the country's most vital industries.
This bold initiative is set to position India at the forefront of sustainable industrial growth, paving the way for a greener, more responsible future in the steel sector.
(KNN Bureau)
MENAFN12122024000155011030ID1108987444
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.