India Launched the World’s first Green Steel Taxonomy

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Taxonomy (or classification) was launched by the Union Ministry of Steel.

Key features of Green Steel Taxonomy

Definition of Green Steel: Steel with CO2 equivalent emission intensity of less than 2.2 tonnes of CO2e per tonne of finished steel.
Star Rating System (based on greenness): The threshold limit for star ratings will be reviewed every three years. And the current threshold is
- Five-star green-rated steel: Emission intensity lower than 1.6 tonnes.
- Four-star green-rated steel: Emission intensity between 1.6 and 2.0 tonnes.
- Three-star green-rated steel: Emission intensity between 2.0 and 2.2 tonnes.
Nodal Agency: National Institute of Secondary Steel Technology (NISST) will be nodal agency for measurement, reporting, and verification (MRV) and issuance of greenness certificates (issued annually) and star ratings.

Advancing National Mission on Green Steel: A proposed ₹15,000 crore mission under the upcoming ‘Green Steel Policy’ to support decarbonisation of steel industry.
Boosting Global Competitiveness Helps Indian steel remain competitive amid global policies like the EU's Carbon Border Adjustment Mechanism (CABM). Positions India as a leader in green steel manufacturing.
Promoting Innovation and Growth: Represent a transformative framework in steel production that will foster innovation, and create a market for low-carbon products in India.

National Mission for Enhanced Energy Efficiency: It is one of the eight missions under the National Action Plan for Climate Change (NAPCC).
Perform Achieve & Trade (PAT) Scheme: Market-based mechanism under NMEEE to enhance energy efficiency through Energy Saving Certificates (ESCerts).
Other initiatives: Green Hydrogen Energy Mission, National Solar Mission, Steel Scrap Recycling Policy, 2019, etc.