India has recently become the first nation to officially define "green steel," which includes steel produced with carbon dioxide emissions of less than 2.2 tonnes per tonne of finished steel. The government has also introduced a star-rating system to evaluate green steel based on its emissions.

Key Points:

• Definition of Green Steel: Steel must emit less than 2.2 tonnes of CO2 per tonne to be considered green.

Star-Rating System: 

1. Five stars for emissions below 1.6 tonnes of CO2.
2. Four stars for emissions between 1.6 and 2.0 tonnes.
3. Three stars for emissions between 2.0 and 2.2 tonnes.
4. Steel exceeding 2.2 tonnes will not qualify as green steel.

• Government Initiatives: The Ministry of Steel is launching a ₹15,000 crore Green Steel Mission to facilitate the transition to sustainable steel production. This includes public procurement policies and financial support for companies adopting cleaner technologies.
• Funding and Investment Needs: The steel industry requires a capital investment of approximately ₹260,000-270,000 crore to transition to greener methods. The Ministry is also seeking support from international agencies like the World Bank.
• Safeguard Duties: India is considering imposing safeguard duties on steel imports, especially from Asian countries, to protect the domestic steel industry from cheap imports.

India's green steel initiative aims to position the country as a global leader in sustainable steel production.