The Berlin-based VDM and Düsseldorf's BDSV present the 2024 Circular Economy Status Report, spotlighting the pivotal role of steel and metal recycling in achieving circular economy and decarbonization objectives. The report underscores the industry's efficiency in resource-saving and its contribution to environmentally friendly production, emphasizing the substantial reduction in CO₂ emissions through the use of processed scrap materials.
In a collaborative effort, the Association of German Metal Traders and Recyclers (VDM) and the Federal Association of German Steel Recycling and Waste Management Companies (BDSV) released the 2024 Circular Economy Status Report. This comprehensive document sheds light on the indispensable role played by the steel and metal recycling industry in advancing circular economy and decarbonization goals.
The report emphasizes the sector's efficiency in resource-saving, attributing its success to the reliable recycling of steel and metal scrap. Beyond the environmental benefits, the industry emerges as a steadfast partner for various sectors. The utilization of high-quality processed materials not only minimizes the demand for ores but also fosters a more sustainable approach to production.
The significance of the steel and metal recycling industry in reducing carbon emissions is particularly noteworthy. According to the BDSV and VDM, the incorporation of 1 ton of ferrous scrap in steel production results in a commendable saving of 1.67 tons of CO₂. Additionally, the report highlights that 1 ton of stainless steel scrap can lead to a substantial reduction of up to 6.7 tons of CO₂ emissions.
As part of the status report, the VDM advocates for the global importance of foreign trade for the metal recycling industry. Recognizing the need for a swift and flexible approach to return raw materials to the cycle, the report calls for a deeper understanding from legislators and authorities.
Furthermore, the associations underscore the necessity for the continuous development of the steel and metal recycling sector as a central component of the circular economy. They advocate for its prominent placement in both the German Sustainability Strategy and the National Circular Economy Strategy.
In conclusion, the 2024 Circular Economy Status Report by VDM and BDSV paints a vivid picture of the steel and metal recycling industry's pivotal role in fostering a circular and sustainable future. The report not only highlights the environmental benefits but also underscores the industry's significance as a global player. As Germany continues its commitment to decarbonization, the steel and metal recycling sector emerges as a beacon of responsible resource management and environmental stewardship.