Sustainable Steel: How Innovation and Collaboration Can Bring Change in Industry?
One of the fundamental building blocks of modern society, steel is used in many facets of our daily lives as one of the most significant engineering and construction materials. However, steel production is also a major contributor to global emissions, accounting for roughly 7% of the world's CO2 emissions. The industry today has to cope with the pressure to reduce its carbon footprint from both environmental and economic perspectives.?
Innovative Technologies for Sustainable Steel Production?
In the future, steel manufacturers must assess, consider and choose a technologically and financially viable strategy to reduce their carbon footprint. And there are several ways to improve the sustainability of steel production and use. These include adopting cleaner production technologies, using recycled steel, increasing energy efficiency, reducing waste and emissions, promoting sustainable consumption, developing sustainable supply chains, investing in research and development, and investing in new and innovative technologies and practices.??
Carbon capture is an emerging technology that can recycle up to 90% of the exhaust gas from Blast Furnaces, reusing it for combustion with the remaining highly CO2-concentrated 10% able to be stored or used. Innovations in product mix can also be used to reduce emissions.?
A Global Perspective on Transition
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The steel industry's transition to greener steel will not be uniform across regions. Steel producers in Western regions and countries already investing in sustainability are likely to see more rapid adoption of low-carbon technologies compared with steel producers in China and India, where the combination of newer capital assets and cost pressures will force a more gradual transition.?
Even in countries where progress will be slower, steelmakers should make incremental investments in process improvements to decrease energy intensity, reduce carbon emissions, increase material efficiency and promote the circular economy. Hydrogen will likely be the cleanest alternative for steelmakers in the future, but it will be some time before hydrogen is economically feasible and scalable. Alternative smelting reduction processes can offer better emission control than integrated plants, but their economic viability depends on overall power consumption and the use of export gases.?
Working Together for a Greener Tomorrow
Steel production has a large carbon footprint, so small steps can make a big difference in moving the industry closer to carbon neutrality. To achieve this, steelmakers must join various stakeholders, including governments, the United Nations, academia, communities and the World Steel Association, to build a greener steel industry. This requires adopting cleaner production technologies, increasing energy efficiency, reducing waste and emissions, promoting sustainable consumption and developing sustainable supply chains. By taking these steps, the steel industry can reduce its environmental impact while improving its competitiveness and resilience in the face of global sustainability challenges.?