It has set steel scrap use targets as part of its fourteenth Five-Year Plan for the Development of the Circular Economy.40 The government is implementing policies to increase the proportion of secondary, scrap-based EAF production – from 10% in 2020 to 15% in 2025 and 20% in 2030.41 These represent important starting points and can lead to a broader focus on material efficiency and demand reductio. [...] 2 4 C O U N T R Y P R O F I L E S – 2 0 2 3 S T E E L P O L I C Y S C O R E C A R D Priority recommendations for Indian steel policy Keep up the momentum and leadership created through the Indian G20 Presidency in 2023 in the space of circular economy and steel, by building on and increasing the ambition of existing relevant policies such as the Steel Scrap Policy. [...] India’s GDP per capita is 1/20th of that of Germany and 1/14th of South Korea’s.75 Its capacity to financially support the transition and reskill a formal and informal workforce is in a very different league to that of the G7 nations we assess in the Steel Scorecard. [...] Recognising the need for clean hydrogen for the steel sector transition, Korea’s national hydrogen policy mentions the possible introduction of incentives for steelmakers to produce clean hydrogen.122 However, the hydrogen policy lacks a clear prioritisation of end-uses, focusing on its application in commercial vehicles and in the power sector. [...] The US is also the most ambitious out of the countries assessed when it comes to power system decarbonisation goals by 2030, when compared to current generation shares; it is the only one planning to achieve full neutrality by the end of the decade.
Authors
- Pages
- 53
- Published in
- United Kingdom
