Finally, this week, from our ‘know-your-enemy’ files comes this about ‘green steel – The inside story on green steel.’ The built environment has developed a taste for sustainable, low emissions steel — but in Australia, the cupboards are relatively bare.
In response to the rising demand for greener steel, the local steel-making industry is hurrying to clean up its products. The major players are taking steps in the right direction, with big announcements from the likes of Andrew “Twiggy” Forrest and Sanjeev Gupta attracting attention.
Trouble is, on emissions reduction, the steel supply chain faces an expensive, technically challenging low carbon transition and a tight deadline. Steel manufacturing is responsible for around 7% of global emissions and like concrete, its emissions intensity is not just from energy use but also a chemical process in its manufacture.
Low emissions steel technologies have been invented but scaling them from the lab to commercial viability will be extremely expensive. Government funding will likely play a role in the risky early stages, some say, with the transitioning industry a prime candidate for the next wave of green finance.
Source & image credit | The Fifth Estate More