Steel industry lags in renewable energy transition, study finds

The world’s largest steelmakers remain heavily dependent on fossil fuels, with renewable energy accounting for minimal use across the industry, a new survey reveals.

David Stanway reports for Reuters.

In short:

Steel production contributes 7% of global CO2 emissions, equivalent to India's total emissions.
Despite available low-carbon technologies, many steelmakers rely on fossil fuels for 99% of their energy.
Sweden's SSAB leads with 19% renewable energy use, while firms in South Korea and India lag far behind.

Key quote:

“This messaging about ‘hard to abate’ is still implying it is not technologically possible.”

— Laura Kelly, strategy director at Action Speaks Louder

Why this matters:

Steel is vital for infrastructure and manufacturing, but its carbon emissions are significant. Transitioning to renewable energy is essential for meeting climate goals, yet affordability and entrenched fossil fuel investments are barriers. Urgent action is needed to address these challenges.

www.reuters.com

Steel industry lags in renewable energy transition, study finds

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