Reuters has reported that diversified miner Anglo American aims to invest in start-ups developing technology to cut carbon emissions from steel-making and lower the group's carbon footprint. In this direction, Anglo American, along with EU funded EIT Raw Materials, has launched a competition to find innovative small companies developing ways to reduce greenhouse gases from the global steel sector. Short-listed companies will be assessed by Anglo's decarbonized ventures team for potential investment and given access to the group's expertise. Anglo American's executive head of market development Mr Benny Oeyen said “We are looking not only at how we decarbonise our own operations, but also at how we can reduce the emissions of our broader value chain.”EIT Raw Materials Managing Director Mr Bernd Schaefer said “The problems are so huge and manifold that many of the industry players can't cope with them anymore. On the other side, we really have the means to activate our network. There is a need to do things quicker so innovation needs to be re-engineered.”EIT Raw Materials is implementing a European Union plan to provide the critical raw materials needed to meet the bloc's target of net zero greenhouse gas emissions by 2050. EIT Raw Materials has a portfolio of about 300 start-up companies targeting a range of sectors, including exploration, processing, recycling and substitution.Anglo American produces iron ore, the raw material to make steel, and under carbon accounting standards, a company is also responsible for indirect emissions from material it sells to others, known as Scope 3 emissions. Anglo American, which produced 59.3 million tonnes of iron ore in 2022, aims to halve its Scope 3 indirect emissions by 2040.
Reuters has reported that diversified miner Anglo American aims to invest in start-ups developing technology to cut carbon emissions from steel-making and lower the group's carbon footprint. In this direction, Anglo American, along with EU funded EIT Raw Materials, has launched a competition to find innovative small companies developing ways to reduce greenhouse gases from the global steel sector. Short-listed companies will be assessed by Anglo's decarbonized ventures team for potential investment and given access to the group's expertise. Anglo American's executive head of market development Mr Benny Oeyen said “We are looking not only at how we decarbonise our own operations, but also at how we can reduce the emissions of our broader value chain.”EIT Raw Materials Managing Director Mr Bernd Schaefer said “The problems are so huge and manifold that many of the industry players can't cope with them anymore. On the other side, we really have the means to activate our network. There is a need to do things quicker so innovation needs to be re-engineered.”EIT Raw Materials is implementing a European Union plan to provide the critical raw materials needed to meet the bloc's target of net zero greenhouse gas emissions by 2050. EIT Raw Materials has a portfolio of about 300 start-up companies targeting a range of sectors, including exploration, processing, recycling and substitution.Anglo American produces iron ore, the raw material to make steel, and under carbon accounting standards, a company is also responsible for indirect emissions from material it sells to others, known as Scope 3 emissions. Anglo American, which produced 59.3 million tonnes of iron ore in 2022, aims to halve its Scope 3 indirect emissions by 2040.
