Let’s imagine for a moment, how this world will look alike if we abolish steel or steel made material entirely from our lives? There are countless things and objects in our surroundings made from steel and completely removing it would seems like impossible task as it is used in almost every equipment we are using in our daily lives.
It is too hard to create everything without using steel by maintaining it’s quality especially in recent world of high technology but this argument is not justified for some NGOs and firms. They see it as an obstacle in many ways. Here in this article we will discuss about some relevant details about revolution and challenges of green steel industry.
Revolution on it’s way:
As according to some facts and statistics, European steel association of Europe which leads all of the steel firms in Europe have decided to revolutionize the entire process and bring a huge change in it as the usage of steel is outdated. Furthermore, with the assistance of EU, they are working on 60 low carbon projects which are in progress and it is estimated that they will achieve their target by the end of 2030. But another factor is also discussed by European steel association that steel is majorly used for recycling as it is reusable which is highly considerable factor as it is cost saving substance.
Eggert, shared his ideas on this matter by highlighting some facts that almost all products are made from steel of different types. With different types of steel products, we have encountered a better change in it’s overall structure and quality. Over last 20 years, it gets better and more environmental friendly. By considering this, it can be rightly said that we have now modified steel in such a way that it’s consumption has been reduced, still more improvement is being made to get the most of it constructively.
Reduced carbon emission:
It is to be planned that carbon usage and emission has to be reduced with each passing time. From 1990’s we have witnesses a great decrease in it’s usage and now they are aiming that it will get zero till 2050.
This decreasing rate in carbon emission creates many advantages for energy and automotive sectors they are now making more efficient and effective machinery and energy saving products with less cost and carbon consumption which is more profitable and convenient.
There were two basic goals of European commission one was to produce renewable products and other was to save carbon or less consumption. First one is getting it’s pace and they are on it’s way to produce renewable with superb quality and desirable material. But less carbon emission project is not working as per plan and there is still a lot of hard work required to make the end goals meet.
As per the EU report, there are four technological factors that can leads towards achieving the objective of minimizing carbon emission in steel made products and makes it greener as much as possible. The revolution came through the advanced technology that insist the industry to adopt green environment has now leads towards positive change in this sector. Furthermore, steel crap or wastage is also worthy to recycle many other products. EU has constructively utilized it to recreate steel made items which are low cost products with less maintenance.
Four technological routes:
Here are those four factors or methods identified by EU reports through which we can make the process easier. Let’s find out them below:
Blast furnace way through which carbon emission can be reduced up to the lower extent by storage and consumption.
Directly using natural gases replacing coal to avoid carbon consumption.
Smelting technique through which iron and other substances automatically transform into steel itself with it’s own process.
Electrolysis is the last technique which involved technological alacrity to achieved desired goal.
Eggert added that there is no such alternative to get less carbon or there is no technological advanced tools to reduce it, all it depends upon external and logical factors which are influenced on it’s consumption and makes it worth using or not.
EU financing details:
EU has decided to build at least 60 low carbon projects by the end of 2030 on which they are working. The financing details of accomplishing this huge milestone includes $85 billion. In which $31 billion is needed to give it a final look and the other $54 billion are required for operational activities or to maintain it in a long run. These projects are enough feasible to invest as they are highly profitable according to reports and analysis.
Ukraine-Russia conflict side effects:
There were many in line projects of low carbon emission before Russia-Ukraine conflict in which the main objective was to replace coal from gases but there was a massive unavailability of these gases after war and there was no proper infrastructure and resources left to regain the lost gases. Eggert addressed this issue earlier that these root causes are the actual reasons behind this deficit and increasing costs & now EU trading commission is not capable to bare enough expenses of overall project as they are not financially stable in current situation & the demand and need is ten times greater than their actual budget.
After analyzing this worse situation, Eggert suggested that new technologies with less investment can be introduced in this industry initially to rebuild this sector with a new innovative technique. New guidelines and procedures with new formal structure to create a creative set up for steel firms with a definite goal of maximum low carbon projects which are in pipeline from a long run has to get accomplished with the assurance of making enough capital required to get through this phase and outlining major energy saving goals. Additionally, the target is to make $30 billion by the end of 2030 can be achievable but simultaneously working on free allocation project will make it difficult to reach towards the end result. For EU currently they are over burdenized to manage the capital and energy resources to get out of this tragic period.