Given India’s commitment to achieve net-zero emissions by 2070, reducing the carbon footprint of the steel industry is both essential and urgent considering the anticipated increase in demand over the coming decades. Under the National Steel Policy (2017), the Indian government aims to raise steel production capacity to 300 million tonnes by 2030, from the current capacity of around 160 million tonnes, necessitating innovative and sustainable approaches to mitigate associated emissions.
This report by Climate Group presents an analysis of how India’s ship recycling sector can facilitate and expedite steel decarbonisation and assesses whether the sector can adequately supplement domestic scrap supply and promote circular economy principles. The report’s objectives are:
- Assessing the volume of high-quality scrap steel generated through ship recycling, with a focus on how it can support the steel industry’s sustainability goals.
- Evaluating the extent to which ship recycling can facilitate circular economy practices, especially through upcycling of steel recovered from decommissioned vessels into high-value products.
- Providing a scenario-based projection of India’s position in the global ship recycling market and recommending policy and capacity enhancements based on stakeholder consultations.
You can download the report below.