INDIA'S FIRST GREEN STEEL TAXONOMY LAUNCHED BY KUMARSWAMY

*  Union Minister H D Kumarswamy Released The India's Green Steel Taxonomy.

FEATURES OF GREEN STEEL TAXONOMY

Green Steel” shall be defined in terms of percentage greenness of the steel, which is produced from the steel plant with CO2 equivalent emission intensity less 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.

1. Based on the greenness, the Green steel shall be rated as follows:

• Five-star green-rated steel: Steel with emission intensity lower than 1.6 t-CO2e/tfs.
• Four-star green-rated steel: Steel with emission intensity between 1.6 and 2.0 t-CO2e/tfs.
• Three-star green-rated steel: Steel with emission intensity between 2.0 and 2.2 t-CO2e/tfs.

Steel with emission intensity higher than 2.2 t-CO2e/tfs shall not be eligible for green rating.

3. The threshold limit for defining the star rating of Green Steel shall be reviewed every three years.
4. The scope of emissions shall include Scope 1, Scope 2, and limited Scope 3, up to finished steel production. Scope 3 emissions shall include agglomeration (including sintering, pellet making, coke making), beneficiation, and embodied emissions in purchased raw materials and intermediary products, but shall not include upstream mining, downstream emissions and transportation emissions, both within and outside the gates of a steel plant.
5. The National Institute of Secondary Steel Technology (NISST) shall serve as the nodal agency for measurement, reporting, and verification (MRV) as well as for issuing the greenness certificates and star ratings for the steel.
6. The certificate shall be issued on yearly basis (financial year). In case the steel plants opt for MRV more frequently, then the certificate may be issued more than once in a year as per the requirement.