06 November 2023
Corporate News

Financial Times: Can the steel industry go green?

The Financial Times' Business Correspondent, Sylvia Pfeifer, recently visited Tata Steel's Port Talbot works to understand the company's journey to decarbonisation as part of a short documentary film called "Can the steel industry go green?"

Recognising that the plant is one of the UK's single biggest emitters of carbon dioxide, Sylvia states that "If the UK is to meet its climate targets, the Port Talbot needs to change how it makes steel."

"The industry accounts for 7-9% of global carbon emissions. Companies across the world are racing to find ways to cut their carbon footprint...and that will require a lot of investment."

"Analysts from Wood Mackenzie estimate that $1.4 trillion will be needed to achieve net zero in the iron and steel industries by 2050." 

Sylvia spoke to Tata Steel UK's Works Manager Coke Sinter & Iron, Dean Cartwright, who explained the current blast furnace making process.

She also visited ArcelorMittal's plant in Ghent where they are replacing some of the coal in their blast furnaces with a biocoal - albeit only reducing the carbon footprint by 5%. They are also using a bioreactor to convert waste gases into ethanol - similar to the University of South Wales technology being piloted at Port Talbot.

Sylvia also spoke to H2 Green Steel, who are looking to a Hydrogen based future using hydropower in Sweden. 

Caitlin Swalec form Global Energy Monitor added: "Governments are often major consumers of steel...so have a lot of power over how materials (for infrastructure) projects are procured.

"The steel industry has been thorugh big changes before, its totally possible to go through them again."

You can watch the whole film here:

 

There is a Video here... please accept marketing cookies to view this content.

For more information and resources, please visit Green Steel Future | Tata Steel UK (tatasteeleurope.com)

Follow us on social media

A blue and white rectangular sign with a qr code

Description automatically generated