Digital Manufacturing in IndiaState of readiness and adoption of Smart FactoryTowards Greener Steel Steering the Transition2| Towards Greener Steel - Steering the Transition3Towards Greener Steel - Steering the Transition | Steel is critical to continued economic development and is the backbone of global sustainable initiatives, including energy transition. It is also one of the world’s most sustainable materials — permanent, forever reusable and the most recycled material on the planet. Therefore, building more sustainable steel products through an environmentally friendly process is a long-term investment that will yield enormous environmental benefits over the full life cycle of steel. Today, the steel industry is one of the world’s most energy intensive and accounts for around 8%-9% of global carbon dioxide emissions. For steelmakers, reducing emissions and specific energy consumption is critical as the global decarbonization agenda speeds up. Steelmakers that move now on a journey to improve the sustainability of operations can get ahead of developing carbon regulations and capitalize on environmental, social and governance (ESG) metrics to gain a competitive edge. There has been a consistent improvement in metrics of sustainability over the last few years for the steel industry. However, the intensity of environmental impact of this industry needs an execution of a compelling and a well thought out action plan. Depending on the region and the existing asset base of steel production, we discuss the Forewordreasons for which such an action plan will be unique for each steel maker. The quantum and timing of investments will depend on the choice of pathway and the urgency of complying with sustainabilit...
