Science Based Targets initiative’s Post

Check out this CNN deep-dive into green steel, featuring us! The article highlights our plant in Boden as the world’s first large-scale green steel project, as well as the potential of green hydrogen for decarbonizing steel. While pointing out that the industry is under huge pressure to clean itself up, it also notes that new coal-powered steel plants are still being approved and developed globally. For the sake of the climate, that needs to stop. And the industry needs to change so much faster. That is why we’re doing what we’re doing — showing how it can be done — and we hope the rest of the industry joins us! Read more → https://cnn.it/3XWGs4e

In my view, this article in the Financial Times on the status of the transformation of the European steel industry lacks a global perspective.    While blast furnaces are still being built in other regions of the world, the European steel industry has set out to lead its production into a green future. Of course, this path is associated with efforts and hurdles, but we are living up to the our social responsibility anchored in the Paris Agreement. Because it is clear that carbon leakage only postpones problems and does not solve them.   Speaking for Salzgitter AG, we are following scientifically based targets for our decarbonization that are aligned with the 1.5°C climate pathway. This is underpinned by our commitment to the Science based Target initiative (SBTI). We have made all the necessary investment decisions to implement the first stage of our transformation and construction work at the Salzgitter plant is in full swing.   However, the speed of our decarbonization also depends on external factors such as the availability of green hydrogen, green electricity and the necessary infrastructure. We must therefore continue to work resolutely with policy makers to maintain and strengthen the European industrial base.    At Salzgitter AG, we work on this with passion every day.   #hierpassierts 

Interesting article.. I truly believe these efforts will pay back sometime in the future but meantime need to overcome all kind of hurdles..Technical, economical and social..

🌿🔩 Navigating the Future of Steel: Unveiling Green Steel Initiatives Worldwide 🌏💼 #greensteel #sustainabledevelopment #climategoals The quest for green steel is more than a trend; it's an essential transition for the steel industry to align with global climate targets. This report not only highlights the diversity and scope of current green steel efforts but also stresses the necessity for harmonization and collaboration among global initiatives. By embracing these findings, we can accelerate the journey towards sustainable steel production, paving the way for a greener, more resilient future. Let's champion these changes together! #sustainabilityjourney #climateaction #futureready 📖 Full read here: https://lnkd.in/dbgm-gPS

H2 Green Steel 🌍🔧 Did you know that steel production emits ~7% of energy sector CO2 emissions annually? (1) If it were a country, it would be the 3rd largest emitter (2). H2 Green Steel aims to address this problem by producing steel with ~87% lower carbon intensity (3) than traditional steelmaking. We are partnering with the company as it constructs a first-of-its-kind, large-scale, green steel plant in Boden, Sweden. (1) International Energy Agency (2) World Resource Institute (3) Just Climate analysis

Green? Not green enough so why fund it? This government gets the need to support the urgent transition from polluting fossil fuels and processes, so why use federal money to fund more of that? This just isn't smart or good enough - Time to send a clear market signal that we will only back the transition and that's it! Our take at the Climate Capital Forum is stop the bad and only fund the good to build our new decarbonising economy. Get to it with clarity Chris Bowen MP! #auspol https://lnkd.in/gtugMUGH

Considering sustainability helps companies to reduce risk and keep being attractive for investment. This is showcased in this post from the SBTi.

Consideration of climate impacts could be mainstreamed across all areas of Government decision-making, and particularly those designed to stimulate long-lasting economic benefits in regional areas... Having just received 110 submissions from ambitious and innovative companies that are committed to decarbonising the steel industry, including 19 Australian low-carbon steel makers and enabling technology companies; it was a bit of shock to see $137m of Fed Gov money invested in a blast furnace. IMHO - valid commentary in the attached from Blair Palese Saul Griffith and Tony Wood #greensteel #climatepolicy #nearzerosteel #climateaction https://lnkd.in/gNPJ6-pD

According to CDP*, if the steel industry does not reduce its environmental impact, 14% of the potential value of steel companies could be at risk by 2040. Its central role in infrastructure, construction, and transportation means steel sector decarbonization is essential for achieving global net zero. The Steel Science-Based Target-Setting Guidance is the world’s first framework for companies in the steel sector, and potential users of steel such as the automotive industry, to set 1.5°C-aligned targets at a corporate level. 👉Find out how steel companies can do their part to hold temperature rise to 1.5ºC with the SBTi Steel Guidance here: https://lnkd.in/eGnRVQGa *Source: https://lnkd.in/eGKMCkrP #Steel #sciencebasedtargets #netzero #climateaction

New analysis from ResponsibleSteel™ suggests that radical shifts to reduce emissions by a select number of industry leaders or 'first movers' will not be sufficient. #steelindustry #steelmaking #metal #emissions #analysis #decarbonization #climatechange #pollution https://lnkd.in/epEvKfVH