Help Desk -
9958816305, 9810335381
Email
Password

ArcelorMittal Sets 2050 Group Carbon Emissions Target 0f Net Zero

Steel News - Published on Thu, 01 Oct 2020

Image Source: ArcelorMittal Carbon Net Zero
ArcelorMittal announced a group-wide commitment to being carbon neutral by 2050, building on the commitment made in 2019 for its European business to reduce emissions by 30% by 2030, and be carbon neutral by 2050. ArcelorMittal has identified two low-emissions steelmaking routes, both of which have the potential to lead to carbon-neutral steelmaking

The Hydrogen-DRI route using hydrogen as a reducing agent. A demonstration plant in Hamburg, where ArcelorMittal owns Europe’s only operational DRI-EAF plant, is currently planned with a targeted start-up in 2023

The Smart Carbon route is centred around modifying the blast furnace route to create carbon neutral steelmaking through the use of circular carbon - in the form of sustainable biomass or carbon containing waste streams - and carbon capture and use CCU and storage CCS. ArcelorMittal is well advanced on constructing several commercial-scale projects to test and prove a range of Smart Carbon technologies. Start-up target for key projects is targeted in 2022

While both routes have the potential to deliver carbon-neutral steel by 2050, we believe that Smart Carbon can deliver results sooner, and make a meaningful contribution to CO2 emissions reduction this decade, while industrial scale production from the Hydrogen-DRI route is unlikely to be significant before 2030 due to the current high costs.

The Company has also previously outlined the policy framework environment it believes is required for carbon-neutral steelmaking to become a reality, which includes:
A global level playing field which avoids the risk of carbon leakage through mechanisms such as green border adjustments
Access to abundant and affordable clean energy
Policies which support the development of the necessary clean energy infrastructure
Access to sustainable finance for low-emissions steelmaking
Policies which accelerate the transition to a circular economy

ArcelorMittal will set out further detail in support of its 2050 net zero target in its second climate action report, which is anticipated to be published before the end of 2020.

Source :

Posted By : Yogender Pancholi on Thu, 01 Oct 2020
Related News from Steel segment