Volvo Becomes First Automaker To Join SteelZero Initiative, Commits To Procuring 100% Fossil-Free Steel By 2050 | Carscoops carscoops
joining SteelZero marks an important step-change in the global demand signal for low-emission and net-zero steel and a pivotal moment for the automotive industry,” said Jen Carson, the head of industry at Climate Group, which launched this initiative. “This sector plays a central role in driving the net-zero transition of steel.”
Indeed, the steel industry is a major source of pollution. Estimates suggest that steel production is responsible for seven percent of global greenhouse gas emissions.Volvo has already produced a demonstration vehicleits partnership with Swedish steelmaker SSAB. Through its Hybrit project, it intends to make steel with virtually no carbon footprint in the near future.
The automaker says that, although the environment is reason enough to participate in SteelZero, it also believes that this is a canny business decision.it is also good business because it limits our exposure to future climate risks and regulations,” said Kerstin Enochsson, chief procurement officer at Volvo Cars. “By signaling our demand for responsibly-sourced low- and zero-carbon steel, we aim to help drive an increased supply to our sector.”
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