India's government has introduced a green steel taxonomy aimed at promoting decarbonization initiatives within the domestic steel industry. Announced on December 31, the taxonomy categorizes steel based on carbon emissions per metric ton produced, with the goal of increasing scrap usage as raw material. Steel with emissions below 2.2 tonnes per metric ton will be classified as green steel, while those below 1.6 tonnes will receive a five-star rating. This initiative is expected to enhance the competitiveness of Indian steel and support increased exports, according to industry experts.