RMI Report Launches Roadmap to Zero-Carbon Steel Industry

SEATTLE (Scrap Monster): The new report published by Rocky Mountain Institute (RMI) outlines pathway to zero-carbon steel industry in China. It states that demand reduction, steel recycling and switch to green routes will help decarbonisation of the country’s steel industry by 2050.

According to the report titled “Pursuing Zero-Carbon Steel in China: A Critical Pillar to Reach Carbon Neutrality”, the steel production and consumption in China accounts for almost 17% of the country’s carbon emissions. The industry has emerged as the country’s second largest carbon emitting sector. The decarbonisation of the steel industry will contribute significantly to the country’s carbon reduction targets.

RELATED NEWS:

Steel Scrap Leads to Significant Reduction in GHG Emissions: BDSV

SSAB Delivered the World's First Fossil-Free Steel to Volvo Group

The report projects the country’s steel production to total 621 million tons per year by 2050, significantly lower by 40% when matched with 2020 levels. The dip in output will be mainly due to stricter carbon emissions reduction target by the country.

The secondary steel production is likely to account for over 60% of the total steel production by 2050, mainly aided by the supportive policies in favour of the scrap recycling market. The green steelmaking technologies will produce 250 million tons of steel by 2050, thereby resulting in substantial reduction in fossil fuel-based steel production, the report said.