- Publication date
- 23 March 2022
- European Research Executive Agency
The steel industry is responsible for around 7% of the global CO2 emissions; hence the decarbonisation of this sector plays a key role in achieving the European Union's (EU) climate goals for 2050. With more than 330,000 directly employed workers and over 2.67 million people working in and around the industry, the European steel industry produced an average of 170 million tonnes of steel per year, having created around €140 billion of Gross Value Added (GVA) in 2019. The sector is highly exposed to international trade and global excess capacity. The European steel industry needs operational changes in the short-term and strategic decisions towards economically viable and climate-neutral transformation in the long term. This requires the alignment of steelmakers, steel value chains, policymakers and investors towards finding effective solutions to decarbonise the steel industry. In this context, the Green Steel for Europe (GREENSTEEL) project provides insights and recommendations for effective solutions for clean steelmaking suitable for the EU to achieve the 2030 climate and energy targets and implementing the 2050 long-term strategy for a climate-neutral Europe. With ten partners (including a think tank, research and technology organisations, a European industrial association, and a European technology platform), the project consortium relies on the best mix of skills and expertise and allows for full coverage of the EU Member States and steelmaking installations. The key outcomes of GREENSTEEL include: An analysis of the technologies aiming at decarbonising the steel industry and a proposal for framework conditions to reach this goal; A proposal for blending and sequencing of public and private funding sources for the decarbonisation of the EU steel industry; Policy recommendations to foster the decarbonisation of the EU steel industry; and The active engagement of relevant EU stakeholders and dissemination of the project findings to the public.