The report underscores the company’s commitment to India's development and decarbonisation, aligning with the country's goal of becoming a $5 trillion economy, the third largest in the world, by 2026–27
ArcelorMittal Nippon Steel India (AM/NS India), the joint venture between ArcelorMittal S.A. and Nippon Steel, has unveiled its first-ever Climate Action Report. The report underscores the joint venture's commitment to accelerating and decarbonising India's development. This announcement is pivotal for India's steel sector, aligning with the nation's aspirations to achieve a $5 trillion economy and emerge as the world's third-largest economy by 2026–27.
Aditya Mittal, Chairman of AM/NS India, emphasised the challenge of balancing development and emissions. He cautioned that without substantial changes in steel production, the sector's emissions could surge by 200 percent by 2050 due to rising demand. Mittal declared AM/NS India's objective to reduce emission intensity by 20 percent further, outlining a comprehensive roadmap towards achieving net-zero emissions in the long term.
Dilip Oommen, CEO of AM/NS India, reiterated the commitment of both parent companies, ArcelorMittal and Nippon Steel, to attain net zero by 2050. He outlined immediate decarbonisation strategies, including efficiency enhancements, increased use of renewable energy, and fostering a circular economy by boosting scrap utilisation in steelmaking.
AM/NS India aims to augment scrap utilisation in steelmaking and establish steel scrap processing centres across India, promoting circular economic practices. The company is also designing blast furnace steel plants that can adopt lower-carbon processes, such as hydrogen-based steelmaking, when viable.
AM/NS India invests in breakthrough technologies like green hydrogen and carbon capture, utilisation, and storage (CCUS) to produce net-zero steel. Collaborating with leading energy companies and research institutions, the company explores the potential of these technologies in the Indian context.
The Climate Action Report puts forth policy recommendations, including clear procurement standards, infrastructure support for a low-carbon economy, tax incentives for green manufacturing, and increased foreign direct investment (FDI) in low-carbon steel. The report underscores the importance of boosting research and development in hydrogen and reducing the cost of hydrogen production.
The immediate decarbonisation plan involves enhancing operational efficiency, deploying cleaner energy recuperation methods, and incorporating advanced digitalisation technologies. AM/NS India aims to achieve a 100 percent green grid by 2030 through solar, wind, and hydroelectric power investments.
Additionally, AM/NS India supports the XCarb India Accelerator Programme, funded by ArcelorMittal and partnered with IIT Madras, to advance clean technology innovations from India.