ENA Economy 2024-12-12 17:13:49 <p><span style="font-size:14px"><strong>New Delhi, Dec 12 (KNN)</strong> In a landmark event at Vigyan Bhavan on Thursday, Union Minister for Steel and Heavy Industries, HD Kumaraswamy, officially launched Indias Green Steel Taxonomy, a pioneering framework designed to decarbonise steel production and promote eco-friendly practices in the sector.</span></p> <p><span style="font-size:14px">The initiative marks a significant step towards aligning India's steel industry with global sustainability objectives.</span></p> <p><span style="font-size:14px">Kumaraswamy stressed the urgency of transforming the steel sector, which accounts for around 7 per cent of global CO2 emissions, and highlighted Prime Minister Narendra Modis vision for a green future.</span></p> <p><span style="font-size:14px"> The Indian steel sector is poised to lead the global transition to sustainable practices, while continuing its growth under the leadership of Honble Prime Minister Narendra Modi, Kumaraswamy stated, emphasising the balance between industrial progress and environmental responsibility.</span></p> <p><span style="font-size:14px">The Green Steel Taxonomy provides a comprehensive framework aimed at encouraging green technologies, recycling, and innovation.</span></p> <p><span style="font-size:14px">It includes the National Mission on Green Steel, which focuses on three key priorities: promoting green technologies like hydrogen-based production and carbon capture, advancing circularity through recycling, and fostering R&amp;D for sustainable methods.</span></p> <p><span style="font-size:14px">This framework is expected to help India meet its Paris Agreement commitments while maintaining competitiveness in the global steel market.</span></p> <p><span style="font-size:14px">Kumaraswamy expressed his gratitude to all stakeholders involved, from steel producers to policymakers, and called for continued collaboration to meet the ambitious goals outlined in the National Mission on Green Steel. With collective effort, India will emerge as a global leader in green steel production, he declared.</span></p> <p><span style="font-size:14px">Attended by several key figures including Minister of State for Steel and Heavy Industries Bhupathi Raju Srinivasa Varma, Steel Secretary Sandeep Poundrik, and SAIL Chairman Amarendu Prakash, the event underscored the government's commitment to sustainable practices in one of the countrys most vital industries.</span></p> <p><span style="font-size:14px">This bold initiative is set to position India at the forefront of sustainable industrial growth, paving the way for a greener, more responsible future in the steel sector.</span></p> <p><span style="font-size:14px"><em><strong>(KNN Bureau)</strong></em></span></p> 40235 https://knnindia.co.in/news/newsdetails/economy/india-unveils-green-steel-taxonomy-to-lead-global-sustainability-efforts 2024-12-12 17:13:49 knnindia.co.in