World Steel Trade Body Focused on Carbon Emission Reductions

SEATTLE (Scrap Monster): The World Steel Association (worldsteel) released a public policy document that highlights the steel industry’s challenges and opportunities in reducing carbon dioxide emissions.

In a statement, the worldsteel noted that steel production continue to remain as a CO2 and energy intensive process. As per available data in 2020, every single metric ton of steel produced leads to 1.85 metric tons of carbon dioxide released into the atmosphere. There is no single solution to cut CO2 emissions, individual countries are required to have a thorough assessment of the situation and implement strategies to suit their particular circumstances. It proposes implementation of the Step Up methodology launched in 2019 to reduce direct and indirect emissions by steelmaking facilities.

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The report by the trade body highlights three key steps to be implemented by the industry in ensuring emission reduction-formulate better industry review standards, maximize the use of scrap and apply new technology to reduce fossil fuel dependency. Also, investing in new ways to produce low-carbon steel from iron ore will help in reducing steel industry’s overall carbon footprint.

Furthermore, worldsteel focused on the need for steel industry to work in tandem with various governments and other key stakeholders.