Page 18 - Steel Tech India eMagazine Volume January 2021

81. Ŗ 01 Ŗ ,CPWCT[

Challenges of Hydrogen can also be a source of revenue, which is particularly
Ŗ .QY XQNWOGVTKE FGPUKV[ important in an economic environment of budgetary
constraints. Long-term investors can use carbon
Ŗ 5CHGV[ C ETKVKECN KUUWG EQODWUVKDKNKV[ NGCMCIG
toxicity pricing to analyze the potential impact of climate
change policies on their investment portfolios,
Ŗ 1RVKOCN VTCPURQTV UVQTCIG YKNN DG UEGPCTKQ URGEKſE allowing them to reassess investment strategies
CPF YKNN DG C UKIPKſECPV EJCNNGPIG
and reallocate capital toward low-carbon or climate
Seeding initiatives at Tata Steel resilient activities
Ŗ %NGCP CPF GHſEKGPV RTQFWEVKQP UQNWVKQP (GCUKDKNKV[
of chemical looping combustion system within steel
industry to produce hydrogen using Blast Furnace
gas
Ŗ *CU RCTVPGTGF YKVJ 1JKQ 5VCVG 7PKXGTUKV[ CPF RKNQV KU
expected to be done by 2022

CCUS – Vital to Net-Zero
The cement, iron and steel, and chemical sectors emit
carbon due to the nature of their industrial processes
and have high-temperature heat requirements. They
are among the hardest to decarbonise. Several reports
conclude that achieving net-zero emissions in industries
like these may be impossible and, at best, more
expensive without CCS. CCS is one of the most mature Fig. 7: Carbon Price (>10$)-World Bank
and cost-effective options for deep decarbonisation of
hard-to-abate industry. Fig 7 depicts the carbon price across countries (selected
few shown)
Seeding initiatives at Tata Steel
Ŗ Emissions trading system (ETS): system where
Carbon Capture: emitters can trade emission units to meet their
Ŗ 2KNQV 2NCPV QH VQPU RGT FC[ %%7 CV ,COUJGFRWT KU emission targets by creating supply and demand for
expected to be commissioned by end of FY21 emissions units, an ETS establishes a market price
Ŗ 6JG %1 capture technology pursued is amine- for GHG emissions
2
based for the separation of CO HTQO ƀWG ICU Ŗ Carbon border adjustment mechanisms: This
2
Ŗ %QNNCDQTCVKQP YKVJ / U %CTDQP %NGCP 5QNWVKQPU 7- mechanism would counteract risk of carbon leakage
by putting a carbon price on imports of certain goods
Carbon capture in India can only be viable when from outside
coupled with utilisation opportunities, which needs to be
explored with academia and other research institutes. Ŗ Carbon offset: Carbon offset schemes allow
individuals and companies to invest in environmental
Policy Landscape required to Accelerate this projects around the world in order to balance out
Transition their own carbon footprints.
%TGCVKQP QH INQDCN NGXGN RNC[KPI ſGNF Policies which encourages :
Ŗ Carbon tax: UGVU C RTKEG QP ECTDQP D[ FGſPKPI Ŗ 0DWHULDO HIÀFLHQF\ Metric which expresses the
an explicit tax rate on the carbon content of fossil degree in which raw materials are consumed,
fuels. Carbon pricing would play an important and incorporated, or wasted, as compared to previous
fundamental role in the transition to a decarbonised measures in construction projects or physical
economy for both governments and businesses. processes
+V ECP JGNR VQ OQDKNKUG VJG ſPCPEKCN KPXGUVOGPVU Ŗ R&D programme for clean technologies:
required to stimulate clean technology and market Development of technologies to replace fossil fuels
innovation, fueling new, low-carbon drivers of with cleaner feedstock i.e. natural gas, hydrogen
economic growth. For governments, carbon pricing etc.

16 STEEL TECH