According to a joint report by German non-profit climate think tank Agora Industry and the Wuppertal Institute for Climate, Environment and Energy, it is feasible to phase out coal in steelmaking by 2043 to 2045 without the premature shutdowns of steel mills. Also, the technology needed to reach net zero in steelmaking is available, but firms and governments need to join hands to deploy them quickly.
The key factors involved in achieving this ambitious target would be:
- Higher material utilisation efficiency
- Commercialisation of hydrogen-based steel production
- Significant rise in steelmaking using recycled scraps
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