STEALING A MARCH ON CARBON

How steelmakers are turning up heat in their furnaces for the war on emission

- ISHITA AYAN DUTT

Earlier this month, rain and floods in Himachal Pradesh claimed 70 lives. The total Idamage has been pegged at 10,000 crore and may take a year to undo.

This is just one in a series of weather events in a summer of extremes. From soaring temperatures in Europe to floods in China, Spain and New York's Hudson Valley, and the deadly wildfire in Hawaii-the effects of climate change have manifested in myriad ways.

"In the last 200 years, carbon dioxide levels have increased due to industrial activity leading to global warming. And it is accelerating," says Debashish Bhattacharjee, vice-president, technology and R&D, Tata Steel. "Between 1970 and 2000, the temperature had been increasing at 0.18 degrees centigrade per decade, but, in the last 20 years, the rate of increase has doubled to 0.36 degrees centigrade."

Bhattacharjee belongs to a hard-to-abate sector, steel, which uses carbon as an integral part of its process. The sector contributes about 7 per cent to the global energy-related carbon emissions, making it one of the biggest contributors to climate change. That steel is nearly omnipresent in everything from washing machines and refrigerators to cars, airplanes, buildings and bridges-makes reducing carbor emissions in the sector imperative.

In addition, the European Union is introducing the transitional phase of its Carbon Border Adjustment Mechanism from October 1 this year. The framework, says ICRA, will affect 15 to 40 per cent of India's steel exports to Europe from 2026 onwards. The way out is to reduce carbon footprint.