By 2030, ArcelorMittal Nippon Steel Joint Venture wants to cut emissions by 20%

The Climate Action Report from ArcelorMittal Nippon Steel India lays out suggestions for enabling laws that help spur advancement throughout the sector, including as tax breaks, new FDI regulations, green grids, and more.

Promoting renewable energy is the main goal of the plan in order to satisfy all grid power requirements.

According to a climate action report produced by the two firms in February, a joint venture between steelmakers ArcelorMittal and Nippon Steel India Ltd. has developed a roadmap aiming a 20 percent decrease in emissions intensity by 2030, with India's development playing a key role in the plan. There is a plan in place for quick action to accelerate and decarbonize.

Promoting renewable energy is the main goal of the plan in order to satisfy all grid power requirements. to encourage the recycling of scrap steel and boost productivity via the development of innovative technologies.

The research lays forth suggestions for enabling laws, such as tax breaks, revised FDI standards, green grids, and more, that might spur advancement across the sector.

Aditya Mittal, president of JV ArcelorMittal Nippon Steel India (AM/NS), said that "research indicates that rising demand could lead to a 200% increase in sector emissions by 2050 without changes in steel production."

By the end of 2024, the joint venture hopes to provide over 20% of the electricity required by the flagship Hazira plant, resulting in an annual reduction of 1.5 million tonnes of carbon emissions from AM/NS India. By 2030, it wants to raise scrap utilization from 3-5% to around 10%, and it intends to establish many steel scrap processing facilities across the nation.

Companies want to develop pilot initiatives to investigate the use of low-carbon gases in manufacturing processes in order to benefit from green hydrogen. The joint venture also aims to establish long-term strategic alliances with the top energy firms globally in order to evaluate the deployment of hydrogen and guarantee the supply of low-carbon gas.

The Ministry of New and Renewable Energy said last week that it will concentrate on clean and sustainable energy in the area.Implementing pilot programs using green hydrogen to replace fossil fuels in the manufacture of steel is a step toward the practices. Guidelines for such pilot projects have been established by MNRE.