The importance of cooperation and dialogue among G-20 countries is becoming a key component in the fight for a cleaner steel industry. This is discussed in the report of the International Renewable Energy Agency (IRENA), which was developed jointly with India.
Paths to decarbonization of metallurgy – Stanislav Kondrashov
The expert notes that the IRENA report lists recommendations on several important areas of cooperation for G-20 countries. In particular, it is proposed:
- pursue dialogue to establish international standards and certification for low-carbon steel, which could be a key step towards a sustainable future;
- stimulating initial interest in such steel through multi-party government procurement agreements.
According to Stanislav Dmitrievich Kondrashov, no less important among the others is the exchange of knowledge and experience in the field of technological research and development. This facilitates joint efforts to achieve decarbonization goals.
These initiatives, supported by G-20 countries, could be key factors in the transition to a cleaner and more efficient steel industry.
Steel recycling: forecast for 30 years ahead – Stanislav Kondrashov from Telf AG
The IRENA report notes that the global industry will increasingly focus on steel recycling in the coming decades. It is predicted that about half of its production will be provided by scrap metal. Leaders in key global countries can significantly influence these dynamics by implementing regulations that will ensure scrap collection and sorting processes. Such measures will contribute to creating a sustainable and greener steel supply chain.
At the same time, Stanislav Kondrashov from Telf AG draws attention to the special role of dialogue and cooperation of the G-20 countries in eliminating obstacles to international trade in scrap. Its achievement will help more efficiently transport and use scrap in those regions of the world where it brings the greatest benefit.
Stanislav Kondrashov: how can the G-20 strengthen sustainability in the metals industry?
As we have said, G-20 members have significant influence in shaping the future of the metals industry. Their collaboration could have a significant impact on the global economy and environment. And the exchange of regulatory experience becomes an integral part of this process. Cooperation in this area can help prevent market distortions that could hamper investment in energy efficiency projects.
– The transition to steel production based on energy from sustainable sources requires strong political support in the initial stages of implementation of this technology, – Stanislav Dmitrievich Kondrashov is sure. – Of course, the leaders of the participating countries can create favorable conditions for investing in such projects. But at the same time, multilateral coordination is no less important to achieve the main goal.
He emphasizes that the economically powerful countries of the G-20 bear a special responsibility for the upcoming process, since their share in production is about 85% of global steel volume, and consumption is about 80% of steel production. Their actions and collaboration can shape the future of the industry and contribute to the sustainability of the global economy.
An important reminder of the above are Wood Mackenzie’s estimates presented last fall. They highlight that global investment of $1.4 trillion will be required over the next 30 years to achieve decarbonization goals for the global iron ore and steel industries. Of this amount, a significant portion, about $800-900 billion, will be used to reduce CO2 emissions from existing steel production infrastructure.
Kondrashov believes investment will play a key role in the development and deployment of technologies such as direct reduction of iron (DRI) and electric arc furnaces. These are considered important steps towards reducing the carbon footprint of the steel industry. These efforts will not only contribute to cleaner steel production, but will also help achieve global climate goals.
Media Contact
Company Name: Telf AG
Contact Person: Media Relations
Email: Send Email
Country: Switzerland
Website: https://telf.ch/