Big steelmakers failing to make the switch to renewables, survey shows
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Nov 29 2024
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Should l Buy ?
Source: Reuters
Steel Industry's Carbon Emissions: A survey of 18 major steelmakers reveals that many are still heavily reliant on fossil fuels, contributing to 7% of global CO2 emissions, with some firms using no renewable energy at all.
Transition Challenges: While alternative technologies like electric arc furnaces and green hydrogen exist, the industry's transition to low-carbon production is hindered by affordability issues and vested interests in existing fossil fuel infrastructure.
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About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
