According to a report on September 30, the world’s largest steel company ArcelorMittal aims to achieve zero carbon emissions by 2050.
The company said it is building on a 2019 commitment for its European business to cut emissions by 30% by 2030. However, she added that the global playing field is on a level playing field with adjustments to green borders and access to abundant and affordable clean energy, as this will require politicians to maintain the necessary infrastructure.
President and Chief Financial Officer Aditya Mittal has made a new commitment before speaking on the challenges of decarbonization of the steel industry at the Financial Times Commodities conference.
In his statement, he said that all parts of the economy in every region of the world will have to do their part to achieve zero net carbon emissions by 2050.
“As the world’s leading steel company, we believe we have a responsibility to spearhead the efforts to decarbonize the steelmaking process that has a significant carbon footprint today,” said Mittal.
“Steel will remain a vital material for our world, and it truly is the roundest of all materials. Our challenge is to be able to produce steel using green energy technologies on a commercial scale, while remaining competitive in the global steel industry. ”
“Policies to keep steel competitive in decarburization will be critical to making this goal a reality – especially as every region of the world moves at a different pace. the steel industry is making significant progress with well-designed policies that protect against carbon leakage, ”he added.
Two paths to decarbonization
ArcelorMittal has identified two low emission steel production routes, both of which have the potential to produce carbon neutral steel: the direct reduction of reduced iron using hydrogen, which uses hydrogen as a reducing agent, and the Smart Carbon route, which focuses on blast furnace modifications to produce carbon neutral steel by using circular carbon in the form of sustainable biomass or carbonaceous waste streams, and carbon capture and use (CCU) and storage (CCS).
A hydrogen-DRI demonstration plant at the ArcelorMittal production site in Hamburg, where the company has the only operating DRI arc furnace plant in Europe, is currently scheduled and is due to start in 2023. ArcelorMittal is also building several industrial scale projects to test a range of Smart Carbon technologies. The goal is to launch key projects in 2022.
The company said both routes could potentially supply carbon neutral steel by 2050, but it believes Smart Carbon can deliver results sooner and make a significant contribution to CO2 emissions reductions this decade, while industrial scale production from Hydrogen-DRI until 2030 is unlikely to be significant due to current high costs. ”
ArcelorMittal said it will provide additional information on its 2050 zero target in its second Climate Action Report, which is expected to be published by the end of 2020.