There will be multiple routes taken to achieving net-zero emissions targets in the steel sector, not just one fix, the chief executive officer and managing director of India-based Tata Steel has said.
According to TV Narendran, meeting decarbonization targets will be a challenge, but it is achievable.
"The transition isn't going to be easy or cheap - there are multiple solutions. I don't think there's one 'silver bullet'," he told a webinar on Tuesday June 15.
"Some countries will go for carbon-capture and storage, and carbon-capture and usage; some countries will go for green hydrogen; and what works in one country may not work in another," he said. "Each country has to decide the solution that it wants to support, because none of these solutions will work unless they have some government support."
At the same time, consistency of approach is important, Narendran said, "because these are investments that you make for decades, so you cannot flip-flop on policy."
The steel industry currently produces about 7-10% of total emissions worldwide. As a...