Steel is one of the world’s most vital commodities, but producing it is a major source of planet-warming carbon dioxide emissions. The only realistic alternative is “green steel” that uses renewable power and more energy-efficient production techniques.
Steelmakers are under growing pressure from big customers such as automakers and construction firms to develop more climate-friendly technologies. But green steel remains a niche product that’s a lot more expensive than conventional steel. Those manufacturers that are selling it are doing so in the expectation that governments will continue to raise the cost of industrial carbon emissions, narrowing that price differential and eventually triggering a surge in demand.
www.bloomberg.com
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