Here Is A Great Article From Hellenic Shipping News On Going Green In The Steel Industry
This is a great article on going green with steel and a fresh outlook on how to get there.
Why can’t all steel be green?
Some of the world’s biggest manufacturers are planning to reduce their carbon footprint by increasing the use of electric furnaces. But a report by the NGO Global Energy Monitor, says the shift from traditional blast furnaces to electric arc furnaces is “stagnant” and significantly behind decarbonization targets.
It says 31% of current steelmaking capacity uses electric furnaces, but only 28% of capacity under construction will use the technology. “We need to stop investing in coal-based blast furnace equipment and speed up the shift towards electric arc furnace steelmaking,” said the report’s author, Caitlin Swalec.
The hydrogen solution is also hitting stumbling blocks. “The real roadblock for green steel is simply the availability of low-carbon hydrogen,” says an MHI technology officer.
“Scaling up this technology will require massive amounts of green or blue hydrogen.”
The path to net zero
The world’s richest G7 economies can achieve carbon neutrality if governments implement the right policies in the next five years, according to the International Energy Agency (IEA). In a new report, the IEA says G7 economies need to recognize the use of interim technologies that substantially reduce emissions even if they aren’t considered zero emissions.
“This decade is key to set the tracks to climate neutrality. Especially in sectors where emissions are high but hard-to-abate like steel and cement, we have to fundamentally shift production methods,” said Robert Habeck, Germany’s Federal Minister for Economic Affairs and Climate Action.
One global initiative working to decarbonize industrial sectors like steel is the World Economic Forum’s First Movers Coalition. At the Forum’s Annual Meeting in Davos this year, the Coalition announced it had expanded, with 55 companies and nine countries now committed to purchasing a proportion of the industrial materials and transport they need from suppliers using near-zero or zero-carbon solutions.
Source: World Economic Forum
Thanks for the article lets go green and thanks to all the quoted participants.
