Research Report

Green steel, in its strictest definition, entails an emission intensity of <0.5 tCO₂ /tonne of steel. Against this benchmark, India’s current average intensity of 2.5 tCO₂/t underscores a substantial gap and deep decarbonisation would be contingent on technology maturity and cost competitiveness. The low-hanging fruit through energy transition and other material efficiencies is expected to achieve ~19% reduction to around ~2 tCO₂ /t by FY2030.

Exhibit: GHG intensity and total emission (Gt CO2e) by major metals

Source: International Aluminium Institute (IAI); ICRA Research