ThyssenKrupp Steel Europe plans to propose a green steel plant at Duisburg. The company aims to switch to direct reduction steelmaking to gradually replace the fossil fuel-based conventional blast furnace route at its site.
At a Handelsblatt hydrogen conference, Bernhard Osburg, CEO of Thyssenkrupp Steel, said, “We will put the first proposals on the table in August.” The proposal involves a tender process for hydrogen production from renewable sources.
Additionally, the company informed in its press release that ThyssenKrupp Steel has made significant progress towards sustainable development by having its climate targets validated according to the guidelines of the Science Based Targets initiative (SBTi).
The “Science Based Targets initiative” is supported by CDP, the United Nations Global Compact, the World Resources Institute (WRI), and the World Wide Fund for Nature (WWF).
It provides companies with an independent, transparent, and recognized assessment process for their climate targets.
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Thyssenkrupp Steel said it is among the first steel producers to have its climate goals scientifically reviewed and deemed consistent with the 1.5-degree target of the Paris Climate Agreement.
This validation applies to both the company’s short-term target for 2032 and its Net-Zero target for 2045.
The company said, “With this validation, Thyssenkrupp Steel is making its methods and measures toward reducing greenhouse gas emissions transparent across the entire value chain, thus reaffirming its commitment to achieving the set climate change mitigation targets.”
Over 5,000 companies worldwide have already validated their climate targets by the SBTi. This is particularly relevant for emissions-intensive industries that have a crucial impact on the global climate.