Blog: Green steel in shipping: How international shipping can lower emissions through progressive adoption of green steel
This article explores how international shipping can significantly reduce emissions by adopting green steel. It emphasizes the 2023 Breakthrough Agenda's target for a 25% reduction in steel sector CO₂ emissions by 2030. Stressing the dual role of shipping as a buyer and supplier of steel, the analysis suggests that embracing lower embodied carbon hot rolled steel could save 776MtCO₂ between 2024 and 2050. It calls for aligning with Science Based Targets initiative guidance, setting clear GHG reduction thresholds, and fostering collaboration to drive demand for green steel. The authors urge increased collaboration between the shipping and steel sectors for a sustainable future.
Author: Andreea Miu (Sustainable Shipping Initiative), Amelia Hipwell (Lloyd’s Register Maritime Decarbonisation Hub), and Marie Fricaudet (UMAS), December 2023
