The European steel industry is on course to exceed its emissions budget by 2035, as only 26% of its carbon budget remains, warns a report from UK-based research organisation Industry Tracker.
According to the report, existing steelmaking assets could release a further 2.3 billion tonnes of CO2, compared with a budget of just over three billion by 2050, based on the International Energy Agency’s net-zero pathway.
The dominant method for making primary steel is via a blast furnace. This technology is the biggest contributor to emissions in steelmaking. Yet emissions reductions from blast furnace efficiency improvements have plateaued at 1% for the last 20 years.