Steel industry calls for green steel production

The European Union is considering a carbon tax on steel, but the steel industry is calling for increased green steel production instead of taxes.

Steel is valued for its durability and strength by every warehouse equipment manufacturer. It is a strong and lightweight material used to make material handling and storage equipment. The traditional steel manufacturing process emits high levels of carbon, which is harmful to the environment. No viable or economic alternatives to steel are available.

It is estimated that 7% of global carbon emissions are caused by the steel industry. European Union and the US government are considering proposals for a carbon tax on steel. It is argued by some economists that a carbon tax would effectively reduce emissions. If a carbon tax is added to steel, this will make the metal more expensive and raise the price of items manufactured from steel.

The European steel industry is against a carbon tax and argues that the solution is to create more green steel, which is made with fewer carbon emissions. European steel manufacturers, including Hybrit and H2 Green Steel, have replaced carbon-emitting fossil fuels with hydrogen and other non-fossil fuels in steel production.

Europe is ahead of most steel-producing regions in its efforts to decarbonise steel. European steel producers are developing technology to further reduce carbon emissions and plan for green steel to be economically viable. This may take some time, but steel manufacturers would rather spend resources on researching ways to make steel greener than pay carbon taxes.

Posted by Mark
6th June 2022
Manufacturing

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