Energy is the key to achieving low-carbon goals for the steel industry

Since the second half of 2020, the European Steel Federation has successively released the development path and specific points of the "Steel Green Agreement", clearly pointing out that the European steel industry will transform before 2050 and become the core of a low-carbon circular economy, and promised to 2050. Reduce greenhouse gas emissions by 80%-95% (compared to 1990).
 
The European Commission issued the "European Green Agreement" at the end of 2019 and made it an important part of the European economic plan after the outbreak. In terms of forward-looking plans for green transformation, the steel industry is one of the most advanced industries in Europe. The European Union believes that the "Steel Green Agreement" will become the flagship of the "European Green Agreement".
 
Energy is the key to achieving low-carbon goals for the steel industry. Around the "Steel Green Agreement", the European Union has formulated a series of development paths to achieve climate commitments. Two of the main technical routes-"smart carbon use" and "carbon direct avoidance" are all closely related to energy conservation.
 
"Direct carbon avoidance" includes hydrogen-based smelting and electric reduction methods using green energy. Therefore, the electric arc furnace route will be the basis for improving the position of the European steel industry in the circular economy. If fully implemented, it will revolutionize European metallurgical technology.
 
Green power and green industrial products (such as green steel) will bring huge benefits to society, so Europe needs to realize energy transition as soon as possible and comprehensively. At the same time, given that the manufacturing cost of green steel is 35% to 100% higher than the highly optimized process currently used, EU policymakers should make every effort to promote the creation of a green market.
 

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