EU GREEN STEELMAKING: Producers bring first certified green steel to the market

Steel companies ArcelorMittal and Ovako have both begun to offer the first certified "green steel", following increased scrutiny on emissions from customers, the two companies announced separately.

ArcelorMittal
ArcelorMittal Europe is offering green flat steel products using a system of certificates which are linked to the tonnes of CO2 savings achieved through the company's investment in decarbonization technologies in Europe, and certified by independent auditor DNV GL.
The certificates can be used by customers to report an equivalent reduction in their Scope 3 emissions, which are indirect emissions coming from purchased materials, in accordance with the GHG Protocol Corporate Accounting and Reporting Standard.
The company said it achieved its first sales of certified green steel in 2020 and anticipates offering 600,000 tonnes by 2022.
It added it is clear that in order to drive the transition to net zero steelmaking, a market pull toward lower emissions steels is needed. The company said it is is innovating to respond to this rising demand for green steel from customers.
Additionally, it will commission its first Smart Carbon steelmaking technologies in Ghent next year (2022), while its first hydrogen reduction project in Hamburg will start production 2023-2025.
The company has a net zero target by 2050, aiming for a 30% CO2 reduction in Europe by 2030.
Ovako
Swedish special steel producer has published new environmental product declarations (EPDs) with independently audited environmental footprints for its products to help customers make climate-smart decisions.
The EPDs cover the full environmental impact, including the carbon footprint of hot-rolled steel bar from Ovako's Hofors, Imatra, and Smedjebacken and Boxholm (Smebox) mills.
These declarations are based on a life cycle analysis of hot-rolled bar from the cradle to the gate. They take account of all the recycled scrap and alloying elements, transport, energy and waste products in the production process, and include all yield losses to final product.
Ovako recently reported the successful use of hydrogen to heat steel before rolling.
The new environmental declarations evaluate and present six different environmental aspects. Ovako can also offer this information to customers for each specific product purchase, based on alloy variants and further processing.
"The carbon footprint of our hot-rolled products is 80% lower than the global average. Our customers can use our steel to improve their environmental footprint and the climate profiles of their end customers, and thereby gain a competitive edge. We have a lot of customer inquiries about our carbon footprint and we believe interest will grow further," Ovako head of sustainability and safety Katarina Kangert said.

Uranium volatility after Russia's US export restrictions

Gold stocks rebound on metal bounce and equity rise

Crypto market size continues to catch up with gold

Crypto stealing some of gold's thunder

Gold stocks drop on metal price decline