Outokumpu publishes report on the green steel transition

“The strategic importance of steel and other resources is once again in the spotlight, as nations grapple with the challenges of ensuring industrial resilience and navigating the green transition. And, while today's focus for steel is carbon emission-centric, tomorrow's challenges will demand a holistic approach, likely increasingly encompassing more planetary boundaries and higher social requirements. Recognizing which phase of change an organization is in is crucial for initiating the change that goes far beyond improving materials or reducing emissions. The organizations that succeed will be the ones who boldly adopt new strategies aligned with 21^st-century business philosophy”, said Johann Steiner, executive vice president for sustainability, strategy and people at Outokumpu.

According to the report, ambitious, long-term policies and government support are needed to accelerate the green transition. To gather public interest and support, the report also calls for a ‘rebrand of the green transition’ to make it more tangible and visible to the public, driving change in the way materials are consumed.

“Virtually everything we humans do today has a compounding impact on the physical world. Our challenge for the 21^st century is drastically reducing that impact – which requires a fundamental transformation in how we produce and consume. It is clear that carbon steel and stainless steel will have a central role to play in that transition, both as a material and as a defining aesthetic feature of a society that needs to build products designed for longevity", commented Olivier Rostang, lead researcher for the white paper at Kairos Future.

“Outokumpu have rightly highlighted that cooperation and immediate action are essential to speed up the global net zero steel transition. Getting the industry to net zero is one of the critical challenges of our time. We can achieve this. But we’ll only drive sector transformation, fast, if we have effective collaboration and action from all parts of the value chain – not just steel users, but steelmakers, policymakers, and investors alike”, concluded Jen Carson, head of industry at Climate Group.