Asia Pacific > Asia > NGOs urge banks to halt South Korean blast furnace funding, warn of CBAM risk

NGOs urge banks to halt South Korean blast furnace funding, warn of CBAM risk

Published 05:30 on August 7, 2025 / Last updated at 05:30 on August 7, 2025 / / Asia Pacific (Asia), Net Zero Transition (Industrial Decarbonisation)

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A group of 21 NGOs has written to major banks around the world, calling on them to stop funding for a blast furnace relining project in South Korea, saying it would lock the steel manufacturer into at least 15 more years of coal use and at risk of hefty carbon border fees for exports to Europe.
A group of 21 NGOs has written to major banks around the world, calling on them to stop funding for a blast furnace relining project in South Korea, saying it would lock the steel manufacturer into at least 15 more years of coal use and at risk of hefty carbon border fees for exports to Europe.


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