The policy, expected to be unveiled in the coming weeks, aims to achieve a significant reduction in the carbon footprint of the steel industry. It will focus on promoting the use of renewable energy sources, such as solar and wind power, in steel production. This shift towards renewable energy is expected to significantly reduce the industry’s reliance on fossil fuels, thereby lowering its carbon emissions.

* **Developing a taxonomy of green steel:** This involves creating a standardized classification system for steel products based on their environmental impact. This taxonomy would categorize steel products based on their carbon footprint, energy consumption, and other relevant factors. * **Example:** A steel product could be classified as “green” if it has a carbon footprint of less than 100 kg CO2 per tonne of steel produced, while a product with a carbon footprint of 200 kg CO2 per tonne would be classified as “conventional.”
* **Monitoring CO2 emissions:** This involves tracking and measuring the carbon emissions associated with steel production at various stages.