Tata Steel Launches Innovative Carbon Bank

11 Jul 2024 CW Team

Tata Steel, a major player in the steel industry, has introduced a groundbreaking initiative known as the "carbon bank." This virtual repository is designed to transform carbon dioxide (CO2) emissions into valuable assets for future use, according to a company statement released on Wednesday.

CO2, commonly recognized as a harmful byproduct of fossil fuel usage in industries and transportation, poses significant environmental challenges. The steel industry, heavily reliant on coal and other fossil fuels, contributes substantially to CO2 emissions.

The carbon bank aims to measure and manage CO2 savings generated from various sustainability projects. These savings not only help achieve environmental goals but also have the potential to generate revenue for reinvestment in further decarbonization efforts.

Rajiv Mangal, Vice President of Safety, Health & Sustainability at Tata Steel, emphasized the company's commitment to sustainability, stating, "In the face of mounting global concerns about sustainability, Tata Steel has taken proactive steps to spearhead carbon abatement initiatives as part of its unwavering commitment to sustainability across environmental, societal, and business domains. The carbon bank is one such tangible commitment to driving sustainability within the organization."

The process begins with Tata Steel identifying decarbonization projects capable of reducing CO2 emissions in one or more production processes. The carbon savings from these projects are rigorously monitored by an independent auditor, who verifies the company's CO2 savings claims according to appropriate ISO standards. Upon verification, a carbon savings certificate is issued by the auditor and virtually deposited in the carbon bank.

By launching this carbon bank, Tata Steel is setting a precedent in the industry, demonstrating how environmental responsibility can be aligned with business strategy to create value and drive further sustainability efforts.

Equipment

12 Dec 2025

Schwing Stetter India Unveils New Innovations at Excon 2025

Schwing Stetter India unveiled more than 20 new machines at Excon 2025, marking one of its most significant showcases and introducing several India-first technologies to the construction equipment sector. The company launched the country’s first 56-metre boom pump designed and manufactured in India, the first fully electric truck mixer, the first CNG mixer variant and the first hybrid boom pump. Executives said the launch portfolio was engineered to support India’s move toward faster, greener and more vertically oriented infrastructure through advanced engineering, clean-energy solutions a..

SEPC Resolves Hindustan Copper Dispute, Wins Rs 725 Mn Order

Engineering, procurement and construction firm SEPC Ltd has recently settled a dispute with Hindustan Copper Ltd (HCL) and secured a mining infrastructure order valued at Rs 725 million from the state-owned company. SEPC informed the stock exchanges that it has executed a settlement deed with HCL, bringing closure to all inter-se claims and counterclaims arising from arbitration proceedings. As part of the settlement, SEPC will receive Rs 304.5 million as full and final payment, marking the resolution of all pending disputes between the two entities. The company also stated that Hindustan Co..

20% Ethanol Blending Cuts India’s CO2 Emissions by 73.6 Mn Tonnes

Union Road Transport and Highways Minister Nitin Gadkari recently said that India has reduced carbon dioxide emissions by 73.6 million metric tonnes due to the adoption of 20 per cent ethanol blending in petrol. He made the statement while replying to supplementary questions during the Question Hour in the Lok Sabha. Describing ethanol as a green fuel, the minister said it plays a key role in reducing pollution while also supporting higher incomes for farmers. He underlined that ethanol blending contributes both to environmental sustainability and rural economic growth. Nitin Gadkari also po..