[ INTERVIEW ]
She added that , for example , steel companies that are already using a lot of scrap need to prepare themselves to use more DRI because scrap is a limited resource . The operating environment , conditions and the current infrastructure in developing countries are such that these countries will need support from the more developed ones when it comes to renewables , scrap availability , etc .
There are some other crucial points that Ms . Vuorinen highlighted : “ Nowadays , there is a lot of ‘ hype ’ about hydrogen . Yes , we want to see hydrogen being used but not just any kind of hydrogen . Hopefully , accelerating investments will encourage the production and use of renewable hydrogen ( see WWF ’ s Global Energy Policy Framework 3 ). The same can be said for EAFs ( electric arc furnaces ). These are not magical solutions , but we need to ensure that the electricity that is used comes from sustainable resources .”
Circumstances call for swift transition
According to the recent report “ A Matter of Ambition : Examining the Steel Industry ' s Commitment to Net Zero by 2050 ” 4 published by the Global Energy Monitor
( GEM ) and the Leadership Group for Industry Transition ( LeadIT ) examining the top 50 steel producers that announced 2030 and 2050 climate targets , there is 2 ½ times as much new capacity built for blast furnaces compared to facilities intended for green steel production . Based on this , Ms . Vuorinen is certain that we are not on the right track . “ The figures should be reversed . Unfortunately , the transition is very slow , therefore , accelerating the change by putting a stop to unsustainable financing is of utmost importance . Seventy percent of all blast furnace capacity has been estimated to reach its end during this decade . So , by 2030 we should have many investments made . We hope that the right decisions will be made ,” she pointed out .
Transparency is yet another factor that she highlights as key . “ I am slightly surprised at how slowly change is taking place and how little we know about the steel sector investment plans in some major steel-producing countries ,” she stated .
While many think that the situation is not that severe , leaving us plenty of time to act , the reality points to a different conclusion . When asked about the situation in Finland , Ms . Vuorinen explained that while the impact of climate change on the livelihood of Finns is less severe than in many other countries , Finnish nature is already suffering from the rapid climate change in the Arctic regions .
Tackling crisis in a coherent way
The general feedback on the Ready for Green Steel campaign is positive . Many stakeholders are listening to the voice of reason and are willing to make the change while others are perhaps hoping to get a “ free ride ” as Ms . Vuorinen jokingly calls it . Nevertheless , the final verdict is such : decarbonisation is a process that needs to take place globally in a coherent way , meaning that everyone needs to do their part .
“ Everyone can make a change . I often hear people claiming that as consumers they are not connected to the steel industry in any way . But when we think about our daily activities , we realize that steel is all around us . For instance , you cannot make a call to a friend without a cell tower made of steel . When preparing a meal , you use a pan made of steel . The same goes for the car you drive and many other everyday examples . There are different ways in which every one of us can make a small contribution so that together we can be the change ,” Ms . Vuorinen stated , concluding our conversation .
3 https :// wwfint . awsassets . panda . org / downloads / wwf-global-energy-policy-framework _ 1 . pdf
4 https :// globalenergymonitor . org / wp-content / uploads / 2023 / 10 / GEM-LeadIT _ Top50-steel-producers-commitment-to-netzero . pdf
34 Green Steel World | Issue 10 | February 2024