logo

Home>Current Affairs>Green Steel Taxonomy
Current Affairs made simple.

Current Affairs provides you with the best compilation of the Daily Current Affairs taking place across the globe: National, International, Sports, Science and Technology, Banking, Economy, Agreement, Appointments, Ranks, and Report and General Studies

banner-image

Green Steel Taxonomy

Context:

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.

More on the News

  • India is the first nation to release the Taxonomy of Green Steel.
  • The release of the Taxonomy of Green Steel marks a crucial step in advancing the National Mission on Green Steel.
  • Stakeholder consultation on the draft National Mission on Green Steel (NMGS) and draft Green Steel Public Procurement Policy (GSPPP) was also conducted during the event. 

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: 

  • Five-star Green Steel: Steel with Emission intensity lower than 1.6 t-CO2e/tfs.
  • Four-star Green Steel: Emission intensity is between 1.6 and 2.0 t-CO2e/tfs.
  • Three-star Green Steel: Emission intensity is between 2.0 and 2.2 t-CO2e/tfs.

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:

  • Agglomeration processes (sintering, pellet making, coke making)
  • Beneficiation
  • Embodied emissions in raw materials and intermediary products.

Scope 3 does not include:

  • Upstream mining
  • Downstream emissions
  • Transportation emissions (both within and outside the plant).

The National Institute of Secondary Steel Technology (NISST) will oversee the Measurement, Reporting, and Verification (MRV) process and issue greenness certificates and star ratings.

  • Certificates will be issued annually (for the financial year).
  • If steel plants request more frequent MRV, certificates can be issued more than once a year. 

footer image

The most trusted learning platform on your phone

With our training programs, learning online can be a very exciting experience! Take the next step toward achieving your professional and personal objectives

app-storeplay-store
logo
Khan Global Studies Pvt. Ltd. 5th Floor,
A13A, Graphix 1 Tower B, Sector 62,
Noida, Uttar Pradesh 201309

Course Related Query: [email protected] Store Related Query: [email protected]

Get Free Academic Counseling & Course Details

KGS best learning platform

About Khan Global Studies

We love learning. Through our innovative solutions, we encourage ourselves, our teams, and our Students to grow. We welcome and look for diverse perspectives and opinions because they enhance our decisions. We strive to understand the big picture and how we contribute to the company’s objectives. We approach challenges with optimism and harness the power of teamwork to accomplish our goals. These aren’t just pretty words to post on the office wall. This is who we are. It’s how we work. And it’s how we approach every interaction with each other and our Students.


What Makes Us Different

Come with an open mind, hungry to learn, and you’ll experience unmatched personal and professional growth, a world of different backgrounds and perspectives, and the freedom to be you—every day. We strive to build and sustain diverse teams and foster a culture of belonging. Creating an inclusive environment where every students feels welcome, appreciated, and heard gives us something to feel (really) good about.

Copyright 2024 KhanGlobalStudies

Have a question?

Get Free academic Counseling & Course Details

floatButton