Decarbonising steel by 2050 requires input costs to rise by 15-20% -report

Published 11:55 on September 15, 2022  /  Last updated at 11:55 on September 15, 2022  /  Carbon Taxes, International  /  No Comments

The investment needed to decarbonise the steel and iron ore industry by 2050 could reach as high as $1.4 trillion over the next three decades, in order to finance “revolution” across every stage of the value chain, consultants said in a report released Thursday.

Steelmakers may need to cover up to a fifth of their input costs as they struggle to pass on the costs of their decarbonisation efforts through 2050, according to a consultancy report published on Thursday that nonetheless expects the world to need 15% more steel than currently by mid-century.

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