For years, the steel industry has been a major contributor to greenhouse gas emissions due to the use of coal and other fossil fuels in traditional steel production, leading to climate change and air pollution. However, in recent times, the industry has started to move towards a more sustainable approach with the advent of green steel.
Green steel is steel produced with renewable energy sources or reduced carbon emissions. Unlike traditional steel that uses coal and emits high amounts of carbon, green steel uses alternative energy such as wind, solar, hydro, or hydrogen. This lowers carbon emissions and helps fight climate change, making it a promising solution for reducing carbon footprint and achieving net-zero emissions targets
This notorious steel industry has a staggering amount of carbon footprint. For every tonne of traditional steel produced, an average of 1.8 tonnes of carbon dioxide emissions are generated. The good news is that green steel can significantly reduce emissions by up to 95%. How? By using renewable energy sources such as wind, solar, hydro or hydrogen. Not only does green steel production reduce carbon emissions, but it also slashes energy consumption by up to 80% compared to traditional steel production.
But that's not all. The recycling of scrap steel in green steel production can lower energy consumption by up to 75% and reduce water usage by up to 40%. And the numbers couldn't be more significant as the global demand for steel is projected to reach 2.5 billion tonnes by 2050. If the industry fails to adopt sustainable production methods like green steel, the steel sector could contribute up to 15% of global greenhouse gas emissions by 2050.
Impact on Environment due to traditional steel
How Green steel is changing the industry?
India’s Contribution towards Decarbonising Steel Industry
In Conclusion, we can say that Green Steel is changing the global perspective on the steel industry by offering a more sustainable alternative to traditional steel production, which has been a significant contributor to greenhouse gas emissions. As more and more countries and companies are committing into reducing their carbon footprint and achieving net-zero emissions, the demand for green steel is expected to increase. This has led to significant investments in research and development of low-carbon steel production technologies, as well as the implementation of policies and initiatives to promote the adoption of green steel. Ultimately, the shift towards green steel production is expected to contribute to a more sustainable future for the global steel industry and help mitigate the impact of climate change.
"Say goodbye to traditional steel production and hello to a greener, more sustainable future with Green Steel”
Download the Metalbook app now or login at www.metalbook.in for more engaging blogs and insights.
Check out more Market Insights and prices on the Metalbook platform and website : https://lnkd.in/dkgwGdmX