ESG Talk
Scope 2 Challenges: SBTi and Swiss Steel on Decarbonization
Sep 13, 2024
Frank Koch, CEO of Swiss Steel Group, a leader in electric steel production, joins Alberto Carrillo Pineda, CTO of the Science Based Targets initiative, a key player in climate target frameworks. They delve into the crucial role of the steel sector in achieving net-zero goals and the urgent need for innovative low-carbon technologies. The discussion covers strategies for transparency in emissions, the impact of renewable energy, and the importance of collaboration among stakeholders to drive sustainable practices in the industry.
27:36
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Quick takeaways
- The steel industry's significant contribution to global CO2 emissions necessitates urgent adoption of low-carbon technologies and cleaner energy sources for sustainable production.
- Collaboration among industry stakeholders, supported by government policies, is essential for driving systemic change and achieving decarbonization goals in the steel sector.
Deep dives
Steel Industry's Carbon Footprint
The steel sector significantly contributes to global CO2 emissions, accounting for about 7% of all man-made greenhouse gas emissions. This makes it the largest carbon-emitting manufacturing sector, and as such, it plays a vital role in the global effort to transition towards net zero emissions. The demand for steel continues to rise due to its essential role in building infrastructure and supporting economic development, which increases the urgency for the industry to adopt cleaner energy sources and reduce emissions. Addressing the steel industry’s environmental impact is therefore critical for achieving global climate goals.
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