World’s largest steel maker China Baowu Steel Group has set up a Global Low-Carbon Metallurgical Innovation Alliance with 62 partners to tackle climate change and cut greenhouse emissions in the world's biggest steel producer at an inaugural ceremony in Shanghai. With the theme of "Technological Innovation, Leading the Low-carbon Development of Steel", the 2021 Global Low-carbon Metallurgy Innovation Forum is being held in the form of synchronous "online+offline" meetings on 18-19 November 2021. Baowu Deputy General Manager Mr Hou Angui was named Secretary General of the alliance. Mr Angui said "Backed by the collective research and development resources from global steel enterprises and research institutions, the alliance can carry out fundamental and forward-looking low-carbon metallurgical technology development, promote technological collaboration and exchanges and facilitate the low-carbon transformation of the steel industry. It is extremely difficult to make the transformation through a single steel enterprise, but would become possible with the joint efforts of all parties within the steel industry.”

62 members of the alliance come from 15 countries and include global steel makers & iron ore miners

ArcelorMittal

Tata Steel

Thyssenkrupp

SSAB

Angang Group

HBIS Group

Shagang Group

BHP Group

Rio Tinto

Vale

Fortescue Metals Group

During the global low-carbon metallurgical innovation forum where the alliance was inaugurated, China Baowu announced it would establish a low-carbon metallurgical innovation fund, providing at least 35 million yuan annually to support the research and development of low-carbon metallurgy.

In October 2019, China Baowu announced the establishment of a Low Carbon Metallurgy Innovation Centre and plans to establish a Global Low Carbon Metallurgy Innovation Alliance.

Top steel producer China Baowu Steel Group had earlier said that it aims to achieve carbon neutrality by 2050, though the latter goal doesn’t include Scope 3 emissions. Baowu Group is seeking to bring its group's carbon emissions to a peak in 2023 before cutting them by 30% by 2035. The company will increase its use of renewable energies like solar, wind and biomass energy and will further develop the hydrogen sector. It will also strictly control overall energy consumption and strengthen upstream and downstream cooperation’s. Baowu's six-point plans include

Raise the energy efficiency of existing blast-furnace plants

Reduce the carbon emissions intensity of blast furnaces by 30%

Pursue hydrogen-based steelmaking

Upgrade technology at electric-arc furnaces

Increase the use of recycled steel

Develop carbon capture technology

Baowu Unveils Global Low Carbon Metallurgical Innovation Alliance

Strategic Research Institute

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