The German government has revealed its steel action plan, with a focus on achieving its climate goals through "green" steelmaking as it strives to support the steel industry post-pandemic.
The "Steel Action Concept - For a Strong Steel Industry in Germany and Europe" was developed by the Federal Ministry for Economic Affairs and Energy and hopes to send a strong signal for climate-friendly steel made in Germany. Its policy aims for a long-term strong, internationally competitive and climate-neutral steel industry in Germany.
The action plans has three main goals:
To create equal opportunities in the global steel market;
strengthen carbon leakage protection for the steel and other energy-intensive industries;
to enable a changeover to climate-friendly steel production and to seize the opportunity to become pioneers in innovative climate protection technologies.
"Green steel" has become a focus point within the European steel market, as steelmakers try to reduce expensive carbon emission costs and reduce carbon neutral targets via new steelmaking processes, some of which will use hydrogen or recycled steel in place of traditional ingredients.
"Green steel...