Japan’s Kobe Steel wants to achieve carbon neutrality by 2050. By the end of this decade, it intends to drastically reduce its greenhouse gas emissions.
The decline in carbon dioxide emissions of Japan’s third-largest steel producer is expected to fall by 30 to 40 percent by 2030 compared to 2013 levels. However, the target set for reducing greenhouse gas emissions so far concerns only steel production and not electricity generation, which Kobe Steel is also concerned with. But by the middle of this century, the group wants to achieve carbon neutrality.
To reduce emissions, Kobe Steel wants to use more modern technologies that can reduce the volume of greenhouse gases emitted, and plans to gradually replace coal in its power plants with a cleaner energy source. Part of the plan is also the introduction of iron production technologies that reduce hydrogen production as a by-product.
Although the company expects huge investments as a result, Kobe Steel expects a return to profit, which is expected to increase in the coming years. Last year, the group lost about $200 million.
