Sector Importance for Sustainable Finance:

The steel industry generates approximately 3% of global GHG emissions. Like cement our whole built environment has a massive reliance on steel.

Steel is recyclable and we need it to move to a low carbon economy, we just need it produced in a way that generates much lower GHG emissions.

Steel is very unique and that is it is extremely strong and has limited substitutes.

Talking Points:

  • Steel has limited substitutes so how can we decarbonize it
  • In traditional blast oxygen furnace steelmaking production routes coal is used as the source of heat and the major reductant that strengthens and purify’ s the iron, how do we remove coal from this process?
  • How scalable are some of the new solutions attached to electric arc furnace such as natural gas, hydrogen generating direct reduced iron or DRI?
  • Carbon capture has been touted as a key solution for this sector but has proved very difficult to implement given the multiple points of emissions along the iron steel production cycle?

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SSAB: Sustainability Lined Loan

Last modified: December 6, 2021

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