The summit touched upon the multiple factors needed to accelerate green steel adoption – better design, government intervention, better capital deployment, awareness and technical know-how

Steel has been an integral part of Mahindra’s growth journey. M&M Ltd. was founded in 1945 as a steel trading company and is today, the world's largest tractor company by volume and India's top SUV manufacturer by revenue and market share. We procure large quantities of steel for our products across both auto and farm sector. Mahindra Accelo is one of the largest steel processors in India and Mahindra CERO is a source for scrap steel as a processor of end-of-life vehicle recycling business.

With a view to create a more planet-positive world, Mahindra is committed to material circularity as part of its sustainability roadmap. Steel is a key contributor to our indirect emissions from material purchase and Mahindra is advocating for the decarbonisation of the steel industry by working closely with supply chain partners to enable them to accelerate their journey towards low emission steel in India and explore purchasing of low emission steel and building their capacity for the changing ecosystem.

Mahindra Group is a member of the World Economic Forum’s First Movers Coalition focused on transitioning to Green Steel and working with global organisations such as the Climate Group for industry-wide advocacy.

In accordance, it recently co-hosted a ‘India Net Zero Steel Summit’ with Climate Group at Mahindra Towers, Worli. SteelZero is a global initiative led by the Climate Group, in partnership with ResponsibleSteel that helps speed up the transition to a net zero steel industry. The summit witnessed meaningful conversations around India’s initiatives on low-emission steel and how the policy landscape in India is aiding the industry’s transition to low emission steel production. Multiple factors need to align for an accelerated green steel adoption – better design, more intervention, better capital deployment, and most importantly, increased awareness – making responsible steel a priority for all parties involved. Technical discussion included relevant steel standards and certifications to drive accountability and traceability as well as to create a level playing field for low emissions steel.

Managing Director of Kalyani Steels, Mr. R.K. Goyal, shared key insights on key enablers for India’s green steel transition, which include domestic scrap availability, green hydrogen-based steelmaking, uniform standard for low-carbon emission steel, legislative support, and soft loans as decarbonization pathways are capital intensive and need capital at lowest cost possible. He also shared that low emissions steel is already a reality in India.

In his opening remarks, Ankit Todi, Chief Sustainability Officer, Mahindra Group, highlighted the integral role of steel Mahindra’s AFS sector, Accelo, and CERO, and the importance of building awareness, focusing on data measurement, making long-term investments by steel companies and adopting new technology to enable the right ecosystem for the green transition. Drawing comparisons to the EV and RE transition story, Ankit emphasized on the vitality of collaboration required amongst multiple stakeholders to enable this transition.

Dr. Sunita Purushottam, Head of Sustainability at Mahindra Lifespaces and Mr. Nilesh Gujar, Chief of Auto Business and Sustainability, Mahindra Accelo, addressed a panel on ‘Leveraging demand from private and public sectors to boost adoption of low emission steel’. The discussion highlighted challenges on demand side including lack of reliable data, need for recycled steel buyer guide, and support and action on part of the government.

Moving forward, continuous cooperation among industry leaders, policymakers, and innovators will be crucial for addressing challenges and achieving a successful shift to a low-carbon steel future in India. As the Mahindra Group advances in sustainable steel use, we are dedicated to establishing industry standards, advancing India’s net zero goals, and fostering a more sustainable future for all our stakeholders – people and the planet.