Green steel is coming – and the EU is winning the race
Europe is expected to have nearly 50 low-carbon steel projects by 2030 – while only 2 are currently planned for the U.S.
Happy Friday! Please enjoy this Wall Street Journal article in which the author seems to be low-key freaking out over the idea that Europe is making much faster progress on creating green steel than the U.S. is.
A couple of years ago I read a book on environmental challenges and solutions that seemed to suggest that carbon-free steel production was a distant pipe dream (pardon the pun). Now I see articles and reports almost weekly claiming that it’s entirely doable and just a matter of time. Like this one. And this one. And this one.
Good news if true!
(I think it’s important to note that the reason Europe seems to be winning the green steel race is because the region’s carbon taxes are compelling companies to pursue decarbonization of their steel production because of the money they expect to save in the long run. Carbon taxes that penalize bad behaviour can work – without having a negative impact on the economy!)