The government is planning to spend Rs 5,000 crore to make the steel industry greener. Steel Secretary Sandeep Poundrik explained the idea at a big energy summit in New Delhi. The project will be called the National Mission for Sustainable Steel.
How will it work?
Steel factories that reduce the smoke and gases they release will get special support from the government. Most of the money — about 75 to 80 percent — will go to smaller and mid-sized steel companies, which often find it harder to afford new technologies.
Why is this needed?
Because steel is one of the biggest polluters. Making steel releases carbon dioxide (CO2), a gas that causes global warming. In fact, India’s steel industry produces 12% of all greenhouse gases in the country, much more than the world average.
The plan is part of India’s promise under the Paris Agreement, where countries agreed to fight climate change together. Officials say the scheme could begin in the next few months and will encourage factories to use cleaner fuels and smarter technologies to make steel.
What is decarbonisation?
Decarbonisation means cutting down the release of carbon dioxide (CO2), a gas that heats up the planet. Factories can decarbonise by switching to cleaner fuels and greener machines.
(With inputs from PTI)