The Commission’s Strategic Vision “A Clean Planet for all” indicates that deep CO2 emissions reductions in the steel sector are possible through a combination of technological pathways, including steel recycling, carbon capture utilisation and storage, process integration, and electricity/hydrogen-based metallurgy. At the same time, the Commission document confirms that the steel sector is themost exposed to carbon leakage among all energy intensive industries, both in terms of possible impact on output and on investment.
The transformation of the steel industry will require significant investment in the technologies required to decarbonise while the sector needs to remain competitive throughout the entire transition and beyond. External factors not directly controlled by the industry will play a crucial role, most importantly access to CO2-low energy/electricity and feedstock, as well as CO2 storage capacity, where available, at affordable prices. Considering the additional time required for technology uptake and deployment, it is essential that the most promising breakthrough technologies are tested and implemented at industrial scale as soon as possible in the coming decade.
Brussels, 05 August 2020 – The COVID-19 pandemic has slashed steel consumption forecasts as well as the overall economic outlook across the EU and the world. Shutdown measures implemented by governments starting from March 2020 hugely impacted manufacturing activity and steel-using industrial sectors – with future data likely to show further sharp declines as it becomes available.
Third quarter 2020 report
Carbon Direct Avoidance: pathway and projects.