The Vietnam Steel Association has announced that Vietnam’s steel industry aims to achieve carbon neutrality by 2050, which the country hopes to achieve by transitioning to greener models of production.

According to a report by Energy Portal, chairman of the Vietnam Steel Association, Nghiem Xuan Da, emphasized that the steel industry in Vietnam is 'actively participating in the nation’s efforts toward sustainability by implementing digital transformation, optimizing technology, and improving overall efficiency.'

To support these goals, the Vietnamese government has launched an action plan to achieve carbon neutrality in the industrial and commercial sectors by 2030. This plan aligns with the country’s commitment to net-zero emissions by 2050, as announced at the 26th United Nations Conference of Parties on Climate Change.

Vietnam ranks 13th among the largest crude steel producers worldwide and leads the Association of Southeast Asian Nations (ASEAN) countries in both steel production and consumption. As a result, the steel industry is a major emitter, and currently uses a substantial amount of fossil fuels- accounting for 7 to 9% of the country’s total carbon emissions.

Source: Energy Portal