Why decarbonising European steel is harder than it seems
Christophe Roux, Head of metals, mining and industries EMEA at Societe Generale, explores the challenges facing Europe's steel industry as it moves toward decarbonisation, in an article published in “Mining Technology” on October 25, 2024.
Decarbonising the European steel industry is seen as one of the most critical ingredients for green energy infrastructure on the continent. Europe’s plan can be examined through three lenses: carbon pressure, subsidies and financing support.
The EU Emission Trading System (ETS) and the Carbon Border Adjustment Mechanism (CBAM) will ramp up carbon costs for steel manufacturers while incentivising them to reduce their emissions. As a result, steel producers including Acciaieria Arvedi, ArcelorMittal, Liberty Steel, SSAB, ThyssenKrupp and Voestalpine have all announced large-scale investment in new production facilities. Together, they could replace more than 20 million tonnes of annual production with low-carbon steel.
Read the full article published in Mining Technology.
