Green Steel defines the reduction path to be taken by the Swiss Steel Group to lower the impact on the climate. It is also an invitation to business partners, researchers, authorities and external organizations to decarbonise the economy together.
JSW Steel has set ambitious sustainability targets including reducing its specific CO2 emissions by 42% by FY2030 from 2005.
BSH has already been sourcing initial quantities of green steel from Salzgitter Flachstahl GmbH since 2021 with a reduction in the carbon footprint of more than 66 per cent.
Sarralle has installed the first ladle preheating station capable of running entirely on green hydrogen, achieving zero CO2 emissions in this ladle.
Sarralle has installed the first ladle preheating station capable of running entirely on green hydrogen, achieving zero CO2 emissions in this ladle.
As part of the agreement, Metal One is providing development funding to Clean Energy Systems, and the parties will co-locate resources to efficiently target the global steel market.
The SSP provide a framework for banks to assess the decarbonisation of their steel lending portfolio. ResponsibleSteel provides an international standard for steel sites to be certified against.
Gonvarri’s Carbon Neutral Plan is incorporated into the company’s decision-making, business strategy, management and performance metrics.
Most of the world’s steel is produced via blast furnaces which produce iron from iron ore and basic oxygen furnaces which turn that iron into steel. Researchers from the University of Birmingham have designed a novel adaptation for existing iron and steel furnaces that could reduce carbon dioxide (CO2) emissions from the steelmaking industry by nearly 90%.
Simply put, sustainable finance refers to the process of taking environmental, social and governance (ESG) considerations into account when making investment decisions in the financial sector, leading to more long-term investments in sustainable economic activities and projects. According to the Head of ESG, FIC, Deutsche Bank, decarbonising the steel industry will cost more than 1.4 trillion dollars and that is why the emerging sustainable finance market has a key role to play in funding the transition.
Swiss Steel Group owing to its expertise in recycling, electric arc furnace technology and the highest operating standards, has already been able to reduce the carbon footprint of its products to well below the industry average. But it strives to further reduce its environmental footprint until the Swiss Steel Group name stands for climate-neutral steel.
Effective decarbonisation of the steel sector is being touted as a key wedge for achieving net zero emissions by 2050. And for quite some time now, there has been a pressing need to have a consistent set of rules, guidelines, or definition of low-emissions steel, aka green steel. On 14 September 2022, ResponsibleSteel launched the International Standard V2.0 in a bid to increase reliability, ensure consistency, enable buyers to specify what green procurement means and maximise steel’s contribution to a sustainable society.
SSAB is aiming to launch the world’s first fossil-free steel at a commercial scale by around 2026. While the greener variant of the metal is the hottest topic on the steel market right now, there is still a lot of obscurity around it. To answer some of the key questions, the Swedish company recently hosted a factpacked webinar called, “What is fossil-free steel and when will production start?”.
In an exclusive interview with Green Steel World, Mr. Tim Kleier, Head of Green Steel at SMS group, talks about how the company that stands for future-oriented technology is creating new perspectives beyond its core business and taking responsibility for the industry and society as a whole very seriously.
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