Steel industry accounts for more than 6 percent of the total global CO2 emissions. It emits around 2 tonnes of CO2 per tonne of steel produced.
Vehicle scrappage policy will give more access to high quality scrap and is going to benefit the domestic steel makers as they import more than Rs 24500 crores of scrap per year. At the same time adopting the scrap based steel making process through the EAF route will reduce GHG emissions to below 0.5 tonnes of CO2 per tonne of steel produced.
