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The role of steel in achieving a sustainable future
On the path towards a sustainable and energy-efficient future, steel holds a pivotal role as the cornerstone of progress.
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On the path towards a sustainable and energy-efficient future, steel holds a pivotal role as the cornerstone of progress. As we navigate this transformative journey, steelmakers stand at the helm, steering their production towards “green” methodologies to meet the demands of this new era.
Markets across industries echo the call for change, with most companies finally setting resolute targets for CO2 reduction. The pioneering steps of leveraging decarbonized steel to achieve Scope 3 targets are evident in the commitment of over 3,200 companies across sectors, with 1,400+ emission reduction targets already set, exemplified by initiatives like the Science-Based Targets Initiative.
Taking a closer look at the transformer market specifically reveals a crucial observation: the reduction of emissions in purchased transformers as a strategic must and grain oriented electrical steel is a core part of high-power transformers. Lowering CO2 emissions throughout the entire lifecycle of these transformers becomes instrumental for the industry. Enter CO2-reduced grain oriented electrical steel – a critical lever in achieving our customers’ aspirations for sustainably sourced transformers as our product represents an important key-component of transformers. This is especially with the growing demand for top-grades, sustainable electrical steel amidst grid expansions.
However, the path to a successful energy transition is not just of solitary nature. Creating a common understanding and framework is imperative. Joint industry projects and working groups foster a shared lexicon and understanding, essential for communicating with policymakers to shape a supportive environment for flourishing green markets.
Let us embrace the power of collaboration together and work on successful use cases, now! Our collective mindset and proactive efforts will mitigate risks such as insufficient standardization and low trust in green markets.