New Delhi: “Average global temperatures can raise by 1.5°C by 2040 if immediate action is not taken!” stated RK Goyal, director, Saarloha Advanced Material and MD Kalyani Steels Limited, as he addressed the News9 Global Summit at the MHP-Arena in Stuttgart, Germany.
With global temperatures already rising by approximately 1°C above pre-industrial levels as of 2017, Goyal warned against the consequences of inaction, noting, “If we all collectively do not do something substantial, then we are in for a much, much larger problem.” The problems Goyal alluded to include rising sea levels, frequent extreme weather, biodiversity loss, widespread food and water scarcity, and health risks.
According to Goyal, the steel sector accounts for 7% of global CO2 emissions. In India, this figure is even higher at 12%. India’s crude steel production in 2022 generated approximately 358 million tonnes of CO2, equating to 2.5 tonnes of CO2 per tonne of steel—substantially above the global average of 1.91 tonnes and this may only get worse. According to Goyal, India’s planned increase in steel production to 255 million tonnes by 2030 could double emissions, further exacerbating climate risks. Industries, particularly energy-intensive ones like steel manufacturing, contribute significantly to global carbon emissions and it is the industrial sector which perhaps needs to be at the forefront of change.
Kalyani Group’s Green Steel
Amidst all this, Kalyani Steel has emerged as an industry leader in sustainable industrial practices. Speaking at the summit, Goyal highlighted the company’s efforts at reducing its carbon footprint. “We eliminated 100% of fossil fuels… and in the process, we could reduce our carbon footprint substantially,” he noted adding that Kalyani Steel have successfully lowered emissions to just 105 kg of CO2 per tonne of steel, far below industry averages.
Goyal also batted for Kalyani Steel’s strategies. These include the use of renewable energy and hydrogen-based processes that have earned international recognition, including a visit from Germany’s Parliamentary State Secretary for Economic Affairs and Climate Action. Kalyani Steel is now bringing these same technologies and innovations to Europe, a market increasingly prioritizing sustainability.
India’s battle with climate change
India, the world’s fastest growing major economy, home to the world’s largest population and some of the most polluted cities is also stepping up its efforts. The adoption of Direct Reduced Iron (DRI) processes using natural gas and green hydrogen is reducing emissions by up to 45% noted Goyal. He also recounted some of the challenges that persist such as hydrogen transport and cost competitiveness remain. Here innovations like localized hydrogen production and ammonia conversion can prove to be useful, he opined.
India has set up extensive renewable energy infrastructure, as seen in Kalyani Steel’s 82 MW of solar and wind energy installations.
The way forward
Collective responsibility may just be the answer asserted Goyal. “It is not only for the nations… it is about all individuals, all individual companies,” he stated. That means adopting circular economies, preference for green technologies, and investment and innovation in sustainable practices.
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