Greenhouse has launched the Near-Zero Steel 2030 initiative, a partnership with the World Economic Forum’s First Movers Coalition, BCG, Deloitte, ResponsibleSteel and RMI, looking for corporate organisations and start-up ventures to share their commitment to decarbonising the steel supply chain.
With this initiative, Greenhouse is engaging with buyers and suppliers of steel across the world, as well as ‘enabling technology’ companies such as renewables, green hydrogen, and CCUS who will play a role in decarbonising the global steel supply chain. The Near-Zero Steel 2030 initiative is a catalyst to bring about near-zero emissions steel deployment by 2030, by:
- Increasing the demand signal for near-zero steel
- Triggering commercial scale investment
- Promoting industry collaboration
- Showcasing ambition and innovation
The steel industry needs you
Steel is one of the world’s most important engineering and construction materials. It is essential for housing, retail facilities, critical infrastructure, machinery, vehicles, and more. It is also a critical material for many technologies that will deliver the energy transition, such as solar panels, wind turbines, electric vehicles, and advanced manufacturing processes. The steel industry already produces between 7-10% of global emissions and demand for steel is expected to rise by up to 30% by 2050, according to Mission Possible Partnership (MPP) projections. Steel is also considered a ‘hard-to-abate’ sector, as there are no commercially mature technologies that can reduce the carbon footprint of steel as a comparable cost to traditional steelmaking.
Without scaling decarbonisation technology this decade, global companies and governments will struggle to meet their net-zero 2050 goals.
The opportunity for M2i members, partners and community
The World Economic Forum’s First Movers Coalition (FMC) is sponsoring this Near-Zero Steel 2030 initiative to support the emergence and commercialisation of innovation in the steel sector through offtake agreements with buyers of steel, connection to breakthrough technologies, support for funding and access to renewable energy. M2i is in a perfect position to support this initiative with its broad international network in materials research and development, and bringing together industry, knowledge and innovation. We offer support with market inventory, research and development, or funding opportunities.
Supporting the initiative
The Near-Zero Steel 2030 challenge is seeking ‘collaborators’ who would like to contribute to reducing global steel emissions by submitting to the challenge. Submissions are a short statement of intent to participate as a user, supplier, or enabler of near-zero steel production by 2030. Your submission is completely free and takes only 20 minutes to complete. Please submit to the initiative at the Near-Zero Steel 2030 website here
Note: Challenge submissions close in January 2024