Iron and steel is the core material for achieving a sustainable future

"Steel is environmentally friendly and conducive to the development of circular economy. Steel is the world's preferred material and the core of achieving a sustainable future. David Clark, Vice President and Chief Technical Officer of ArcelorMittal Strategy, highlighted the natural advantages of steel over other materials in terms of recyclability and carbon dioxide emissions: its magnetism makes it one of the easiest materials to recycle, and it also has 100% recyclability; even under current technological conditions, two products made of steel are produced. Carbon oxide is also much less than products made from other materials such as glass or aluminium.

David Clark said that the development of policies, energy and technology will be the key factors to reduce carbon dioxide emissions from steel production. He believed that, with substantial financial support, the steel industry could adjust production technology in the coming decades to meet the challenges of carbon emissions. To achieve this, governments of various countries and regions should formulate scientific and reasonable policies, create a fair market competition environment, and find a price competitive way to obtain renewable energy.

ArcelorMittal revealed that the company is strengthening research on the application of new energy-saving and environmental protection technologies, which may have a significant impact on global carbon emissions reduction over a long period of time, including carbon capture, storage and use, renewable biomass fuels and other renewable energy use. ArcelorMittal believes that the large-scale application and commercialization of these breakthrough technologies require investment demonstrations from both the public and private sectors. For example, the European energy sector receives an average of 50 per ton of carbon reduction subsidies from the government each year.