India’s steel, cement industries need ₹47 trillion to go net-zero: Report
₹47 trillion in capital expenditure to achieve net-zero carbon emissions, according to a study by the Council on Energy, Environment and Water (CEEW) unveiled on Thursday. These industries will also require ₹1 trillion in additional operational expenditure (OPEX) annually to achieve this net-zero transition, according to the study - a first-of-its-kind cost analysis for decarbonising these notoriously emission-intensive industries.
Achieving an 8-25% and 32% reduction in emissions from steel and cement, respectively, is feasible without price escalation by adopting technologies like waste-heat recovery and energy-efficient systems, as per the the CEEW research, which was funded by ‘bp’, an integrated energy company. "CEEW’s work with these marginal abatement cost (MAC) curves provide the necessary foundation to quantify the potential for emissions mitigation from these heavy industries and the associated costs.
Such analysis is necessary to help inform policies and systematically pursue India’s net-zero targets in pursuit of decarbonisation without deindustrialisation," said Arunabha Ghosh, chief executive, CEEW. The study highlights that the Indian steel industry emitted 297 million tonne of carbon dioxide in crude steel production in 2021-22, translating to an average emission intensity of 2.36 tCO₂/tcs (compared to the world average of 1.89 tCO₂/tcs).
The industry could see near net-zero steel production costing 40-70% more, depending on technology, production methods, and the utilisation and storage of captured carbon (CCUS). Meanwhile, although being among the world’s most energy-efficient, the Indian cement industry emitted 218 million tonne of CO2 in 2018-19 to produce 337 million tonne of cement, due in part to
. Read more on livemint.com
