Friday, September 13, 2019

SSAB Tops CDP’s List Assessing Business Readiness in Fossil-Free Steel Production

SSAB, the global steel company, is taking steps to gradually eliminate its carbon emissions and achieve the goal of fossil-free steel production by 2045. Recognising these efforts of the company, CDP (formerly Carbon Disclosure Company) in its recent analysis has ranked SSAB first amongst steel companies business ready for a low-carbon operations.

The report analysed 20 of the world’s biggest listed steel companies, which in aggregate represent 30% of global steel production. SSAB had ranked second in the CDP report, when last analysed in 2016.

SSAB has presence in India since a decade with its flagship brands of Hardox wear plate and Strenx performance steel. The company has helped customers use these high-strength steels to reduce the weight of their equipment, improve fuel economy and extend product lifetime – factors that have a major impact on reducing their carbon footprint. These steels are used by a wide variety of heavy equipment types, such as dumper bodies, buckets, trailers, and equipment for lifting, transportation, recycling and agriculture.

The CDP report shines a spotlight on SSAB’s HYBRIT initiative and plans to achieve fossil-free steel production by closure of blast furnaces and their replacement with electric arc ones.

It further states that SSAB has the most ambitious emissions targets among steel companies, ranks it high when it comes to managing risks arising from the switchover and applauds it for being one of the most carbon dioxide-efficient production systems in the steel industry.

Speaking about the achievement, Mr Sergio Moyano, SSAB director for Turkey, Middle East and India said, “The global steel industry accounts for 7- 9% of greenhouse gas emissions and to align with the Paris Agreement's long-term goal to keep the rising global average temperature below 2 °C above pre-industrial levels, the sector will be required to reduce its emissions to 65% of 2014 levels by 2050. We at SSAB have always worked towards sustainable solutions for our customers and environment. Initiatives such as HYBRIT and sensitising customers to upgrade towards a better quality steel is part of the same thought process. We thank CDP for acknowledging our commitment towards carbon free operations.”

Other than steel, CDP’s sector research series takes an in-depth look at high impact industries such as automotive, electric utilities, chemicals, mining, cement, oil & gas, capital goods, consumer goods, shipping etc.

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