Decarbonization in the European steel industry: Strategies, risks, and commitments

Q2 Environmental Science Environmental Challenges Pub Date : 2024-08-01 DOI:10.1016/j.envc.2024.100988
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Abstract

This paper investigates the challenge of decarbonizing the steel industry, a pillar of the global economy but also a major carbon emitter. Analyzing current decarbonization strategies, their effectiveness, and the role of corporate commitment and risk management offers insights needed to identify development paths in the current environment characterized by pressure driven by stringent environmental standards and fierce competition. An empirical approach, including a survey model and simulation, is used to answer prominent research questions. Aspects such as the influence of environmental and governance criteria, specific initiatives that can be undertaken, the importance of corporate commitment, and the integration of risk management into strategic planning are examined. Simulations suggest that the probability of meeting the 2030 goals range from 65.08 to 75.98 percent and the delta between low and high commitment ranges from 4.917 to 4.133 percent according to the share of renewables in the energy mix decarbonization. The influence of the energy mix is also included in the analysis. The research highlights the need for greater coordination and commitment across the industry to improve decarbonization efforts. It emphasizes the critical role of government policies and market dynamics in shaping industry actions toward achieving decarbonization goals. The findings contribute to understanding decarbonization processes, offering insights and guidance for the steel sector's transition to a low-carbon economy.

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欧洲钢铁行业的去碳化:战略、风险和承诺
钢铁行业是全球经济的支柱,但也是碳排放大户,本文探讨了钢铁行业去碳化所面临的挑战。分析当前的去碳化战略、其有效性以及企业承诺和风险管理的作用,为在当前环境下确定发展道路提供了必要的见解,当前环境的特点是严格的环境标准和激烈的竞争所带来的压力。本研究采用实证方法,包括调查模型和模拟,来回答突出的研究问题。对环境和治理标准的影响、可采取的具体措施、企业承诺的重要性以及将风险管理纳入战略规划等方面进行了研究。模拟结果表明,根据可再生能源在能源结构去碳化中的比例,实现 2030 年目标的概率在 65.08% 到 75.98% 之间,低承诺和高承诺之间的三角洲在 4.917% 到 4.133% 之间。能源组合的影响也包括在分析中。研究强调,需要加强整个行业的协调和承诺,以改善去碳化工作。它强调了政府政策和市场动态在影响行业行动以实现去碳化目标方面的关键作用。研究结果有助于了解去碳化进程,为钢铁行业向低碳经济转型提供见解和指导。
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来源期刊
Environmental Challenges
Environmental Challenges Environmental Science-Environmental Engineering
CiteScore
8.00
自引率
0.00%
发文量
249
审稿时长
8 weeks
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