China falls short of reaching 2025 green steel goals
![China falls short of reaching 2025 green steel goals](https://sustainabilityeconomicsnews.com/wp-content/uploads/2024/03/695.webp)
Researchers, on Tuesday, said that China is not meeting expectations in reducing the carbon footprint of its vast steel industry. They attributed this shortfall to declining demand, inadequate recycling rates, and persistent worries about excess production capacity, all of which impede the shift towards cleaner production methods.
Steel production worldwide contributes 8% of the world’s carbon dioxide emissions, with China making over half of it.
Despite China’s commitment to address emissions from its steel industry, it is falling behind on its targets to replace coal-fired blast furnaces with cleaner electric arc furnace (EAF) technology, which utilizes recycled scrap instead of iron ore.
Also read: Max Planck Institute develops method to make green steel from toxic red mud
Beijing aimed to produce 15% of its crude steel using EAF technology by 2025 and increase that to 20% by the end of the decade.
However, as David Cachot, research director at consultancy Wood Mackenzie, reported, the proportion of steel produced via EAF was only 10% last year, slightly up from 9.7% the previous year.
According to a report by the US think tank Global Energy Monitor (GEM). However, China’s current electric arc furnace (EAF) capacity is approximately 150 million metric tons, and its utilization rates have remained low.
GEM noted that while China’s 15% target is somewhat modest, achieving it would still result in an 8.7% emissions reduction from the Chinese steel sector, with carbon dioxide emissions per ton being about 38% lower compared to traditional blast furnace products.
“China has committed to developing greener technologies, but each investment in blast furnace technology … represents a significant capital investment on the part of steelmakers and thus (there is) a doubling down on coal-based technology,” said Jessie Zhi, co-author of the GEM report.
![](https://sustainabilityeconomicsnews.com/wp-content/uploads/2024/07/Screenshot-2024-07-05-at-4.33.30 PM-150x150.png)
CalPERS allocates nearly $10 billion to climate action...
-
The California Public Employees’ Retir...
- 05/07/2024
![](https://sustainabilityeconomicsnews.com/wp-content/uploads/2024/07/Asset-Management-150x150.png)
Eco-gamers launch online video game to target asset...
-
A team of eco-gamers known as Serious Pe...
- 01/07/2024
![](https://sustainabilityeconomicsnews.com/wp-content/uploads/2024/06/Depositphotos_73537517_S-150x150.jpg)
EU regulators push for revisions in landmark ESG...
-
Regulators overseeing the markets, banki...
- 19/06/2024
Related News
ERM, a sustainability consultancy company, announced that it has commenced offshore trials to test the key elements of its Dolphyn Hydrogen process. The trials mark […]
European Energy announced that it had acquired grid connection approvals for nearly 500 megawatts (MW) of solar and wind energy projects across Romania. The approvals […]
In its second-quarter update, Shell announced that it would incur an impairment charge of up to $2 billion following the sale of its Singapore refinery […]
The California Public Employees’ Retirement System (CalPERS) announced a commitment of almost $10 billion to advancing global efforts to transition to a low-carbon economy. This […]
The European Commission announced that it has approved a €10.82 billion French scheme to support offshore wind energy deployment. It aims to help foster a transition […]
ENGIE announced that it signed a 7-year Biotmethane Purchase Agreement (BPA) with BASF. According to the agreement, ENGIE will supply the chemicals company with 2.7 […]