Top Steelmakers' Alliance to Cut Emissions

SEATTLE (Scrap Monster): The China Baowu Steel Group announced that it has launched a Global Low-Carbon Metallurgical Innovation Alliance in tie-up with its partners, aimed at tackling climate change and cutting greenhouse gas emissions. Hou Angui, Vice General Manager, Baowu Steel Group was named first Secretary General of the newly formed partnership.

RELATED NEWS:

worldsteel Focuses on Contributions by Global Forum on Steel Excess Capacity

RMI Report Launches Roadmap to Zero-Carbon Steel Industry

More than 60 companies from around 15 countries are part of the alliance, which will mainly focus on advancing technological cooperation and promoting of low-carbon techniques in manufacturing process. The major alliance partners include ArcelorMittal, BHP Group, Rio Tinto, Fortescue Metals Group, Tata Steel, Thyssenkrupp, Angang Group, HBIS Group and Shagang Group among others.

The steel conglomerate noted that it is quite hard for any steel firm to realize low-carbon transition on their own. The joint effort by steelmakers to boost innovative technological solutions will make steelmaking more carbon-efficient. China, as a country had earlier decided to restrict its annual crude steel production to not more than the level recorded in 2020. Year-to-date, the steel production by the country is down marginally by 0.7%, official data said.