Europe’s largest steelmaker has vowed to reduce its carbon emissions by 30% by 2030 and bring them to net-zero by 2050, in the same week that ICT services giant Atos set a 2035 net-zero deadline. ArcelorMittal Europe announced its new climate roadmap at an online event this morning (25 June), outlining the two key ways in which it will decarbonise its steelmaking processes.
The first of these methods is called Smart Carbon. The process involves replacing virgin carbon, which becomes embodied in the steel, with “circular” carbon, captured from other industrial processes or energy generation. Electricity used throughout the manufacturing process is 100% renewable. As for heat – a major contributor to the steel sector’s carbon footprint – the Smart Carbon process can be achieved at lower temperatures. Carbon capture and storage (CCS) is then used to prevent residual emissions.
ArcelorMittal Europe specifically wants stronger measures for helping steelmakers access sustainable finance to invest in long-term innovation; for scaling up not only renewable energy generation but improving supporting infrastructure; and for making a Carbon Border Adjustment to prevent imported, high-carbon steel from undercutting locally-produced, low-carbon alternatives. “Today, the biggest barrier to transitioning to carbon-neutral steel, beyond the necessary technologies reaching commercial maturity, is the absence of the right market conditions,” ArcelorMittal Europe’s chief executive for flat products, Geert Van Poelvoorde, said. “The financial costs of realising carbon-neutral steelmaking are undeniably huge. However, with a shift in market conditions brought about by having the right policies in place, European steelmakers will be able to unlock the means to reduce emissions from steel globally, while also ensuring the European steel industry remains competitive.”
Source: Edie
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