thyssenkrupp and policymakers must steel their backs on decarbonisation: SteelWatch

German steel producer thyssenkrupp is being urged to not step back from its decarbonisation commitments, with the international climate organisation, SteelWatch calling on it to stay the course on its decarbonisation plans for its Duisberg plant so it, and Europe, is fit for the future of steelmaking.

In an open letter to the company [1], copied to German Federal Minister for Economic Affairs and Climate Action Robert Habeck, German Member of the European Parliament Jens Geier, Commissioner Designate Teresa Ribera Rodríguez and Commissioner Designate Stéphane Séjourné, SteelWatch argues that thyssenkrupp’s Duisberg decarbonisation project is central to triggering wider shifts in the industry, and is therefore too critical to stall [2].

SteelWatch recognises that thyssenkrupp and others are struggling in what is currently a challenging market, yet emphasises that the current tough competition in steel markets is a different issue which should not get in the way of long-term transformation to a decarbonised future.

“Steel producers are clearly feeling the pinch at a challenging moment in the global transition to clean production, but this is just a moment, and not one in which European decisionmakers and captains of industry can afford to falter,” said Caroline Ashley, Executive Director of SteelWatch.

“Europe has a leading role to play in accelerating the global transformation of the steel industry, and spurring the development of the green hydrogen market, but the window for decisions that will seal the necessary progress for the coming decades is closing. Long term investment decisions need to be made now, and certainty brought to this essential decarbonisation of strategic industry.”

Accelerating transformation of the steel industry this decade is critical to keeping global temperatures to the 1.5C degree limit, halting de-industrialisation of Europe, and ensuring a thriving zero emissions economy globally.