Liberty Steel & British Steel Welcome Sixth Carbon Budget of UK
Liberty Steel and British Steel have reiterated commitment to decarbonisation and reducing emissions following publication of the UK’s 6th Carbon Budget.
Liberty Steel and British Steel have reiterated commitment to decarbonisation and reducing emissions following publication of the UK’s 6th Carbon Budget. Recommended pathway requires a 78% reduction in UK territorial emissions between 1990 and 2035, bringing forward the UK’s previous 80% target by nearly 15 years. The Sixth Carbon Budget can be met through four key steps take up of low-carbon solutions, expansion of low carbon energy supplies, reducing demand for carbon intensive activities and land and greenhouse gas removals. The budget includes a recommendation from the Climate Change Committee that primary steelmaking operations are decarbonised by 2035.
In response LIBERTY Steel Executive Chairman Mr Sanjeev Gupta said “If we don’t tackle steel, we will fail to meet our carbon targets, and the Committee on Climate Change is right to urge the Government to mandate UK steelmaking to reach near-zero emissions by 2035. LIBERTY’s GREENSTEEL strategy aims to make us a carbon neutral steelmaker by 2030 through greater use of recycling, renewable energy and breakthrough technologies such as hydrogen. If the UK as a whole wants to meet the CCC’s aim we need a co-ordinated policy framework for steel and energy intensive industries to drive rapid decarbonisation and create a system that rewards such ambition. The fast movers should be incentivised through an appropriate carbon emissions policy, which also prevents carbon leakage to protect the competitiveness of the industry until a global carbon price is established. Government support for green UK steel in supplying major construction projects can also help to spearhead world-leading new technologies in our industrial regions, re-energising their economies and equipping our younger generation with skills that will sustain them in long-term jobs.”
A British Steel spokesman said “Steel is vital to modern economies and over the coming decades, global demand is expected to grow to meet rising social and economic need. It’s the world’s most recycled material and our steel can play a central role in transitioning to a low-carbon, circular economy. We’re acutely aware of our environmental commitments and have ambitious plans to invest in a range of technologies to reduce the carbon intensity of our operations, with solutions that are globally recognised and acceptable to customers. Our new owners have committed to wide-ranging investment of GBP 1.2 billion, which is enabling us to put our company on a more sustainable footing. A significant portion of this money will be invested in new technology in our drive to reduce emissions, support clean growth and protect and create new jobs.”