Ready for Green Steel
Steel production is currently one of the main drivers of climate change. To secure a livable planet, an industry-wide transition to low-emission steel production needs to start now. WWF’s Ready for Green Steel campaign calls for a swift transition within the steel industry by bringing together forerunning steel buyers, investors and financial institutions who are ready to announce their will to choose green steel.
The campaign ended at the end of January 2024.
Steel production still relies heavily on burning fossil coal. While the methods and technology for low-emission production are ready and available, investments to coal-fired sites are still being made. In terms of curbing the climate crisis already upon us, and mitigating future risks, this is disastrous.
To secure a livable planet, all we need is will power – and translating it into ambitious action. WWF’s Ready for Green Steel campaign allows notable companies within the steel sector to show their will to choose green steel over coal-based, globe-warming production. Together, we can speed up the steel sector’s more-than-necessary shift towards low-emission steel production.
These companies are Ready for Green Steel
Cargotec
Enersense
YIT
Purmo Group
Fingrid
About Green Steel
Although there’s no universal definition for green steel, we use it to refer to steel produced with low emissions. A common denominator for all of the low-emission production methods is the use of electrically powered arc funaces instead of coal-powered blast furnaces.
The level of emission reductions varies considerably depending on which solutions are used to produce the steel itself, and the electricity needed for the manufacturing process. Compared to current coal-based production, emissions can be reduced by up to 98 percent with a production method based on hydrogen produced with renewable energy.
Green Steel benefits
Steel Sector transformation into low-emission production will have substantial positive effects on the planet, civil society, and businesses:
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Reducing emissions to secure a livable planet
Transitioning from carbon-intensive production methods to low-emission production will reduce global greenhouse gas emissions substantially. WWF is acting to make the change possible. We urge companies to set science-based targets.
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Advantages for companies
Steel sector decarbonization can offer significant advantages not only for steel producer companies, but for the energy sector and all those companies that have steel playing some role in their value chain. Demand for green steel is growing rapidly.
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Avoiding risk investments and supporting a just green transition
By helping the steel sector to build pathways towards low-emission production, financial institutions and investors can avoid substantial risks, such as long-term carbon lock-in, future stranded assets, endangering jobs and putting any 1.5C-compatible pathway out of reach.
Learn more about WWF Finland's work on Steel Sector Decarbonization
WWF Finland wants to speed up the steel sector’s change and help all stakeholders move forward together.
Learn more about WWF Finland's work on Steel Sector Decarbonization
Any questions? Please contact us!
Ready for Green Steel is a campaign by WWF Finland. The campaign does not take a stand on the sustainability of the end-products of the committed companies.