[ TECHNOLOGY ] mandatory for manufacturers . For this to be viable , the availability , steady supply , and affordability of renewable energy must be ensured . Similarly , green hydrogen purchase obligations could replace fossil fuel-based steel production , provided there is strict compliance with green hydrogen supply security and its availability at competitive prices . This would open up significant business opportunities for green hydrogen production facilities and catalyze the shift toward low-carbon steelmaking technologies .
To achieve carbon neutrality across the entire steel value chain , the iron ore mining and beneficiation processes must also adopt low-carbon technologies , including improved energy efficiency programs and measures to minimize energy wastage . The availability of high-quality iron ore , scrap , and pellets at competitive prices should not be a barrier to the industry ’ s lowcarbon transition .
Conclusion
Given steel ’ s critical role in the global economy and the significant emissions associated with traditional steel manufacturing processes , decarbonizing steel production is imperative . This is a formidable challenge , as many technologies are still in their developmental
stages and not yet commercially more affordable . This can be viable . Additionally , the limited achieved through a concerted availability of high-quality iron push from policymakers to ore , shortages of steel scrap , promote local electrolyser and scrap export restrictions in manufacturing and expanded some countries are hindering use of renewable energy progress toward green or lowemission steel production . sources .
The commitment of steel
Ensuring the steady and manufacturers to technology abundant availability of transformation — whether renewable energy and green for part or all of their hydrogen at affordable prices production capacity in a must be a top priority , as both phased manner — will also be have the potential to enable essential . To facilitate this large-scale low-carbon steel shift , government support production . Clear guidelines and in the form of viability gap regulatory norms are needed to funding can help steelmakers mandate the use of renewable achieve carbon neutrality . energy and green hydrogen Furthermore , end-users of steel purchase obligations for steel should be encouraged to adopt manufacturers . Government green steel through purchase policy should support these obligations , supported by efforts by making green incentives and the promotion of hydrogen and renewable energy green certificates .
References
1 . Decarbonization challenge for steel , McKinsey & Company , April 2020 .
2 . Decarbonizing Steel – Forging New Paths Together , Shell Energy , 2022 .
3 . Steel Decarbonization in India , Institute for Energy Economics and Financial Analysis ( IEEFA ), Report , September 2023 .
4 . Metalmorphosis : How decarbonisation is transforming the iron and steel industry , Wood Mackenzie , Report , October 2023 .
5 . Green Steel – Technology and Value Chain Shifts to Tackle Decarbonization Challenges , Deloitte , Report , July 2023 .
6 . Energy-Efficient Technology Options For Direct Reduction Of Iron Process ( Sponge Iron Plants ), The Energy and Resources Institute ( TERI ), 2021 .
7 . Evaluating Net-zero for the Indian Steel Industry , Council on Energy , Environment and Water ( CEEW ), Report , October 2023 .
8 . Tata Steel Climate Change Report , Tata Steel , 2023 .
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