Additionally, the joint venture underscores its commitment to investing in breakthrough technologies for net-zero steel production, such as green hydrogen and carbon capture.
08 Feb 2024 | 8140 Views | By Autocar Professional Bureau
ArcelorMittal Nippon Steel India (AM/NS India), a joint venture between ArcelorMittal and Nippon Steel, unveils its inaugural Climate Action Report, outlining ambitious targets for decarbonisation. The report signifies a critical juncture for the Indian steel sector amidst rapid economic growth projections.
Aditya Mittal, Chairman of AM/NS India, affirmed the ...
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ArcelorMittal Nippon Steel India (AM/NS India), a joint venture between ArcelorMittal and Nippon Steel, unveils its inaugural Climate Action Report, outlining ambitious targets for decarbonisation. The report signifies a critical juncture for the Indian steel sector amidst rapid economic growth projections.
Aditya Mittal, Chairman of AM/NS India, affirmed the company's commitment to balancing growth with emissions reduction, stressing the urgency to transform steel production to mitigate environmental impact. With AM/NS India already achieving a one-third reduction in emissions intensity since 2015, the new goal is to further reduce intensity by an additional 20% and eventually achieve net-zero emissions.
CEO Dilip Oommen emphasised the strategic roadmap outlined in the report, focusing on operational efficiency enhancements, renewable energy adoption, and increased scrap utilisation. These initiatives aim to propel decarbonisation while supporting company growth and resilience.
Key initiatives highlighted in the report include:
Additionally, AM/NS India underscores its commitment to investing in breakthrough technologies for net-zero steel production, such as green hydrogen and carbon capture. Collaborations with leading energy companies and research institutions aim to accelerate the deployment of these technologies.
The report also advocates for supportive policy interventions to facilitate industry-wide progress, including clear procurement standards, infrastructure development for a low-carbon economy, tax incentives for green manufacturing, and increased investment in R&D for hydrogen.
By aligning strategic actions with ambitious targets, AM/NS India aims to lead the steel industry's transition towards sustainable and environmentally responsible practices, contributing to India's broader climate goals and economic development.