Climate transformation: That's behind the restructuring of the steel industry
The German steel industry is investing billions in climate transformation. What the plan is - and what the hurdles are.
The German state of Saarland is undergoing a transformation of its steel industry to produce "green steel" with reduced CO2 emissions. The project, costing €4.6 billion, is being partly funded by the federal government and the state with €2.6 billion. The steel industry, one of Germany's largest CO2 emitters, aims to reduce emissions, with the Saarland project expected to cut emissions by up to 55% by the early 2030s.
The production of green steel involves using hydrogen instead of coal, which is obtained from renewable energy sources. The EU Commission has introduced a regulation to protect the European steel market from cheap imports.
Written by urgent.news from Handelsblatt's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
