Reducing carbon emissions from steelmaking will likely see high initial costs and steel trade risks as first-mover producers saddled with high conversion costs compete with incumbents, according to industry group World Steel Association
US Steel has set a goal to achieve net-zero carbon emissions by 2050, the company said.
During a meeting with metallurgical magnate Lakshmi Mittal, President Volodymyr Zelensky emphasized the need to introduce the latest steelmaking technologies in green steel. They will help to curtail the negative impact of industry on the environment.
Swedish automotive giant Volvo Group plans to produce the world’s first vehicles to be made from fossil fuel-free steel, with the first vehicles expected later this year.
European Union steelmakers may be at loggerheads with the European Commission on how a Carbon Border Adjustment Mechanism can be introduced in Europe, according to views expressed during a European Steelmakers’ Association March 17 webinar that focused on EU climate policy.
Automobile manufacturer The BMW Group has decided to invest through its venture fund BMW i Ventures in the American startup Boston Metal, founded under the auspices of the Massachusetts Institute of Technology and supported by Bill Gates. We are systematically encountering raw materials and components with high CO2 emissions in production in our supplier network. […]
