<
https://reneweconomy.com.au/renewables-crucial-for-green-steel-but-policy-must-call-time-on-coal-fired-furnaces/>
"Steelmaking needs to be electrified, investors warn, but that requires
governments to commit to the end of coal-fired blast furnaces.
An investor survey released on Friday found a majority (59 per cent) viewed
effective climate policies as crucial for “green steel”, which most said could
not be produced by burning fossil fuels.
Most investors (81 per cent) defined green steel as needing to be made using
green hydrogen and renewable energy, and rejected projects that relied on
hydrogen derived from gas or offsets to reduce greenhouse gas emissions.
Australian, American, Asian and European investors believed metallurgical coal
would become more risky in the next decade, according to the survey by
shareholder research body the Australasian Centre for Corporate Responsibility.
Nearly half of respondents were directly lobbying their governments for
incentives to attract renewable energy development as a crucial component for
decarbonising steelmaking and reaching net zero.
The survey of 500 investors in the steelmaking, iron ore and metallurgical coal
mining sectors also found support for importing green iron as a viable
opportunity for steelmakers with limited access to renewable energy.
“Green iron corridors” from countries like Australia could use green hydrogen
to turn iron ore into green iron pellets for steelmakers in countries such as
Japan, the centre’s survey report suggests.
“Any company seeking to expand metallurgical coal assets or double down on
coal-based iron-making should be paying serious attention to this strong
investor sentiment,” the centre’s lead analyst Fiona Deutsch said.
But frameworks must be put in place by governments to remove barriers for the
new industry, investors said."
Cheers,
*** Xanni ***
--
mailto:xanni@xanadu.net Andrew Pam
http://xanadu.com.au/ Chief Scientist, Xanadu
https://glasswings.com.au/ Partner, Glass Wings
https://sericyb.com.au/ Manager, Serious Cybernetics
