BUILDING A SUSTAINABLE FUTURE TOGETHER

The G20 must set up a group of government and industry to formulate green policies for steel representatives

India’s G20 presidency holds immense significance in driving meaningful progress on climate change. Addressing the G20 Environment and Climate Ministers’ meeting in Chennai, Prime Minister Narendra Modi had recently asserted that climate action must follow ‘Antyodaya’, which means that climate policies and initiatives must be designed in a way that they not only address environmental concerns but also social inequalities, and promote inclusivity.

The G20 must constitute a high-level group of government and industry representatives from each member for global co-operation, which will help in formulating green, public and corporate procurement policies to accelerate the development of net-zero steel. Establishing an actionable steel decarbonisation road map with considerations for national circumstances, technological innovation and capacity-building is essential. While steel production has historically been linked to emissions, there is a sense of optimism for the future. If steel changes, India changes. With a ripple of allied green manufacturing practices, the path to net-zero is becoming clearer. Further, achieving the $5-trillion economy target by 2027 and doubling steel production capacity to 300 million tonnes in the next nine years are also intertwined. Which brings us to the question: Will India seize the opportunity to decarbonise steel manufacturing through ‘Amrit Kaal’ and become ‘Aatmanirbhar’?

Accelerating Adoption of Renewable Energy