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The authorities have issued green steel certificates to two dozen low-emission manufacturers, according to officials monitoring the sector's decarbonisation. The certificate, valid for 12 months, makes these companies eligible for incentives or purchase preferences to green steel that the Centre may approve. "Around 25 green steel certificates have been issued out of 60 applications till now," a senior official told ET. Shree TMT, Kalyani Steels and Vardhman Special Steel are among companies that have got the certificates, according to industry representatives. The steel ministry has proposed that over a third of the total government steel procurement will be of low-carbon variant. The National Institute of Secondary Steel Technology (NISST), the steel ministry's nodal agency for measurement, reporting, and verification (MRV) of emissions in the industry, issues the green certificates. It is expected to help metal exporters to align with the emission thresholds under the European Union's carbon border adjustment mechanism, allowing them to avoid a carbon tax on their products.Live Events 'Green steel' is defined as steel produced with emissions lower than 2.2 tonnes of carbon dioxide per tonne of finished steel. A star-rated grading system measures the 'greenness' of steel, with a five-star rating for emission intensity lower than 1.6 tonnes of CO2 equivalent per tonne of finished steel. Shree TMT in September said it has received a five-star rating green steel certificate. Industry representatives said Kalyani Steels and Vardhman Special Steel have also received the certificates, but they did not specify the level of decarbonisation achieved. Responding to a query in the Rajya Sabha, Union Steel Minister H D Kumaraswamy said the objective of this taxonomy is developing a framework for encouraging production of low carbon steel. This is being done by adopting energy efficient technology and non-fossil fuels for steel making. The minister said green steel certificates are issued to plants meeting defined emission intensity levels.Add as a Reliable and Trusted News Source Add Now! (You can now subscribe to our Economic Times WhatsApp channel) Read More News onkalyani steelsGreen steelgreen steel certificatesgovernment incentives for green steeldecarbonisation in steel industryemission thresholds (Catch all the Business News, Breaking News and Latest News Updates on The Economic Times.) Subscribe to The Economic Times Prime and read the ET ePaper online....moreless (You can now subscribe to our Economic Times WhatsApp channel)Read More News onkalyani steelsGreen steelgreen steel certificatesgovernment incentives for green steeldecarbonisation in steel industryemission thresholds(Catch all the Business News, Breaking News and Latest News Updates on The Economic Times.) Subscribe to The Economic Times Prime and read the ET ePaper online....moreless Prime ExclusivesInvestment IdeasStock Report PlusePaperWealth Edition123View all Stories
