The transition to a green economy is impossible without a thriving steel industry - Tata Steel
“The transition to a green economy is also impossible without a thriving steel industry – steel is needed for almost every aspect of the UK’s decarbonization plan. That's why every G20 economy around the world has its own steelmaking capacity,” Tata Steel UK Chairman Henrik said as he launched the company's latest sustainability report.
Introducing Dr. Adam in the report said:
“The past few years – with shortages in everything from domestic energy production to computer chips – have held back the UK economic recovery and reminded us of the importance of self-sufficiency in critical materials and services.
Steel is an essential component of manufacturing , engineering and construction sectors in the UK, it accounts for 16% of the country's economic production. There can also be no transition to a green economy without a thriving steel industry - just about every aspect of the UK's decarbonization plan. needs steel. This is why every G20 economy around the world has its own sovereign steel production capacity.
Tata Steel recognizes that steel production must be sustainable in every sense.
Thanks to the huge investments that we have invested in reducing emissions, our Port Talbot plant ranks in the top third of the world's most carbon efficient steel mills. carbon emissions.
The UK aims to reach zero by 2050. To do this, the steel industry has two options: it can be allowed to decline. well paying jobs in steel communities. Emissions will drop here, but we will be importing a lot more steel, which will increase emissions in other countries. This is of course counterintuitive and undermines the UK economy and global efforts to fight climate change.
Or we could invest here in transformative technologies to make steel in a carbon neutral way. This is entirely possible, but requires support from the UK government on the same scale as our European neighbors, both in terms of direct investment and electricity market reform. to reduce the 60% higher energy prices we are facing here compared to prices in Europe.
Tata Steel wants to help the UK reach its ambitions and targets for zero cleanliness. We understand technology, we have ambition and we have the people to make green steel. We are ready to take the next technological leap forward and produce sustainable steel for wind and solar power plants, electric vehicles, large infrastructure projects and sustainable green buildings of the future. But we can't do it alone.
This report shows where we are now and also gives an idea of where we could be. We are at a crossroads between allowing steel production to decline and shifting our emissions offshore, and a new era in which we are transforming UK steel production to make it fit for 2050 and a brighter future.”