The international non-profit Climate Group, in partnership with ResponsibleSteel, is launching SteelZero in India, a global initiative that brings together leading organisations to speed up the transition to a net zero steel industry.
India is the second-largest producer of steel after China. Emissions from India’s steel industry are projected to triple over the next three decades (source: IEA). The country’s push to meet its net zero targets will rely heavily on the decarbonisation of its steel sector. SteelZero brings together businesses across the steel industry to make a public commitment to buy and use 50% low emission steel by 2030, setting a clear pathway to using 100% net zero steel by 2050.
The Indian launch event saw key addresses from Amitabh Kant, India’s Sherpa to G20 and Sajjan Jindal, Chairman, JSW and Chairman, World Steel Association to kick start important discussions on the ecosystem needed in India to decarbonise steel. A panel featuring Derek Shah, Senior VP, Head Green Energy Business, Larsen & Toubro; Neha Verma, Director, Ministry of Steel; Capt. Prashant Widge, Head of Responsible Ship Recycling, A. P. Moller-Maersk; Sanjiv Paul, Vice President, TATA Steel; and Shiva Kumar, Policy and Impacts Director, ResponsibleSteel shared their support for the initiative and explored its potential to have a significant impact on investment, policy, manufacturing and production of net zero steel in India.
Amitabh Kant, India’s Sherpa to G20 said: “It is high time climate action is recognised as a competitive advantage by all stakeholders. I applaud the consultative approach taken on the path to reorienting market dynamics toward the production and procurement of clean steel. The launch of SteelZero is only the beginning of a long, productive road ahead.”
Divya Sharma, India Executive Director at Climate Group, said: “The launch of SteelZero in India is an important moment to ensure we stay on track to achieve our ambitious climate targets. We look forward to working with Indian companies who are getting on board with the importance of acquiring responsible steel, being right at the forefront of climate-friendly business practices.”
Sajjan Jindal, Chairman, JSW and Chairman, World Steel Association said: “The steel industry is committed to reducing the carbon footprint from its operations and from its end products. We support the role of SteelZero as a unifying demand initiative that seeks collaboration across the demand and supply ecosystem, jointly working towards speeding up the transition to a net zero steel industry. We welcome the launch of SteelZero in India.”
In the coming months, Climate Group will launch a Net Zero Steel Demand Outlook report based on the Indian steel demand landscape. Companies will then be invited to join working groups for individual steel-using sectors with the objective of supporting them in adopting net zero or low carbon steel. Climate Group will also publish an insights report for each identified sector resulting from the working group discussions.