Towards climate neutral industrial value chains – Europe as frontrunner in the global steel transition
COP26 side event at the EU Pavilion
Event Recording
During COP26 the world’s leaders are gathering in Glasgow in order to increase climate ambition and accelerate the global energy transition in the 2020s. The steel sector can – and must – play a vital role in this because this decade puts the global steel sector at a crossroads: Between now and 2030, globally, more than two thirds of existing coal-based blast furnaces will reach the end of their technical lifetime and require reinvestment. If these reinvestment needs before 2030 are met with coal-based capacity, this will create long-term carbon lock-in and lead to stranded assets, endangering jobs and putting any pathway compatible with 1.5°C out of reach.
The good news is that low-carbon steelmaking technologies are mature and can be deployed now. However, they require infrastructure and a regulatory framework. In Europe, many steel companies have announced plans to build low-carbon steelmaking capacity before 2030. Green lead market cooperation announcements between steel companies and private sector companies are also increasing rapidly. But to date a tangible business case for low-carbon steelmaking and low-carbon steel use is still missing.
During this side event in the EU pavilion – jointly organized by Wuppertal Institute, IN4CLIMATE.NRW and Agora Industry – panelists discussed challenges and opportunities of a global steel transformation that starts in the 2020s and how Europe can become a frontrunner.
To set the scene for the panel discussion, Wido K. Witecka, Project Manager at Agora Industry, presented the key findings of a joint paper by Agora Industry, Wuppertal Institute and Lund University entitled “Global Steel at a Crossroads” which can be found in the "All Content" section at the bottom of this page. Agora Industry is the new sub-brand of Agora Energiewende launched in October 2021.
PROGRAMME
Introduction: “Global Steel at the Crossroads” (Wido K. Witecka, Agora Industry)
Panel discussion:
- Asa Ekdahl, Worldsteel
- Hans-Jörn Weddige, Thyssenkrupp
- Corinna Zierold, industriALL – Europe
- Peter Handley, DG Grow European Commission (virtual)
- Joachim Braun, Division President Process Industries ABB (virtual)
- Moderator: Stefan Lechtenböhmer, Wuppertal Institute
RECORDING
You can watch the recording by clicking the YouTube button above (starting at minute 2:28).
Event details
Towards climate neutral industrial value chains – Europe as frontrunner in the global steel transition
Agora Online Event
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![[Translate to English:]](/fileadmin/_processed_/8/f/csm_15_insights_global_steel_news_73f640a802.jpg "The global steel industry can achieve net-zero emissions by the early 2040s")
![[Translate to English:]](/fileadmin/_processed_/9/e/csm_global-steel_project_news_2_283e600f74.jpg "Shifting global steel reinvestments from coal to clean")
