Today, U.K. Steel has published the report ‘Net Zero Steel: A Vision for the Future of UK Steel Production’, setting out a vision for a green steel sector.
Community, the steelworkers’ union, is proud to support the launch of this report and to have contributed to its development. There’s no doubt our industry faces significant challenges, but as the report shows with government backing we can have a bright future.
The stakes are high because Britain needs its steel, and our industry supports tens of thousands of good jobs in places that really need them. If government is serious about levelling-up then they should start by backing Britain’s steelworkers and our steel communities.
To create a net zero steel sector in the UK and meet Government targets, the new report from UK Steel calls for a renewed focus on establishing a positive policy environment for steelmaking. Key points from the report include:
- Government has targeted a 95% emission reduction from steelmaking by 2050, while the Climate Change Committee has recommended that emissions from ore-based steelmaking be near zero by 2035.
- New Net Zero steel production will increase electricity use, but industrial electricity prices are a key barrier, as UK steelmakers currently pay almost 60% more than their European counterparts.
- UK demand for steel is expected to grow by 2030, presenting an opportunity to reindustrialise and create green jobs.
- Any route to Net Zero steelmaking must include creating a market for Net Zero steel, ensuring that imported, high-emission steel does not undermine domestic investment.
- Globally, no steel sector has yet decarbonised – the UK can secure a tremendous first-mover advantage.
The full report can be read here.
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