In a bid to achieve net-zero emissions, the Global Recycling Foundation (GRF) has issued a warning to the world’s iron and steel-making industry: it must decarbonise.
The call comes as part of the Global Recycling Day celebrations on 18 March, during which the GRF urged policymakers worldwide to adopt greener, more circular laws and technologies for the sector.
Iron and steel-making is the largest consumer of coal globally, the largest emitter of CO2, and the second-largest energy consumer among heavy industries. It is responsible for 7-9% of global carbon dioxide emissions, surpassing all road freight emissions.
Since 1970, the global demand for steel has tripled and is projected to increase by over a third by 2050. A significant portion of this demand will be driven by the need for wind turbines, solar panels, hydroelectric dams, and electric vehicles – all crucial for achieving net-zero emissions.
“This represents a significant challenge. But it also provides a huge opportunity to re-set the world’s iron and steel value chains on a more sustainable path,” said Ranjit Baxi, the founding President of GRF. He emphasised that their call aligns with COP28’s ambition to accelerate the energy transition through the Global Decarbonization Accelerator (GDA), a series of initiatives designed to expedite the energy transition and drastically reduce global emissions.
Echoing Baxi’s sentiments, Susie Burrage, President of the Bureau of International Recycling (BIR), added: “To decarbonise iron and steel, we’ll need green hydrogen, carbon capture and storage (CCS) and electric arc furnace (EAF) technologies. We’ll need to use steel less wastefully, to recycle a lot more and to make renewable energy cheaper for steel makers, users and re-users. These things won’t just happen, they will require a combination of innovation and the right laws, regulations, and incentives.”
The call to action serves as a stark reminder of the urgent need for industries, particularly those with high carbon footprints, to transition towards more sustainable practices in the race against climate change.
