Standards for a net zero iron and steel sector in India

Policy brief

About this report

India is the second-largest steel-producing country in the world, accounting for 7% of total crude steel production. Both domestic demand and production are set to rise faster in the coming years in India than in any other single large economy. Unless mitigation policies are put in place, emissions from the sector are also set to rise rapidly, posing climate, air quality and stranded asset risks.

 There are many levers which governments, industry and civil society can work together on to help accelerate the iron and steel sector’s path to net zero emissions. Standards for low and near zero emissions steel are a key tool to unlock policies supportive of the transition and other enabling mechanisms, including procurement, access to finance, carbon pricing and emissions trading systems. Such standards include both emissions measurement methodologies and definitions for low and near zero emissions steel.

 This policy brief reviews experiences internationally and in India related to steel standards for the net zero transition, building from the IEA’s previous work in this area on definitions and emissions measurement methodologies. Areas of emerging common ground and principles for net zero-compatible standards are highlighted. The brief concludes with possible steps to help continue advancing on emissions measurement methodologies and definitions in support of clean energy transitions in India.