Green steel - a substantial transformation of the steel industry by Nils Naujok and Holger Stamm, partner and director respectively of PwC Strategy& Deutschland
The steel industry needs a new strategic direction to respond to the current challenges (price volatility, COVID-19, import pressure, structural changes in the core market automotive and sustainability/ decarbonization). The steel industry's strategy for decarbonization of steel production requires an entrepreneurial model for green hydrogen, green crude steel, and a sustainable circular economy. This strategy builds on a new form of collaboration with suppliers, partners, and customers as well as the digitalization of the entire value chain! Green steel is not just a buzzword, but a business model and the first suppliers of green steel are shaping the market for the whole industry.
Strategy& supports the steel and metals industry on this journey finding the right strategic direction, sustainable business models and a specific roadmap to green steel.
Nils Naujok, partner at PwC Strategy& Deutschland – PwC’s strategy consulting business, leads the global Chemicals and the EMEA Energy, Utilities & Resources (EUR) business. He is based in Berlin, where he specializes in strategy development, operating model development, operations and innovation strategies for the metals and process industry. In this role he is in close contact with leaders of the European metals industry, industry associations, media representatives and technology partners. One key element of his consulting focus is the advice related to sustainability and industry 4.0 in the metals industry. He supports his clients in the needed transformation to digital operations and digital business models. Nils has more than 20 years of experience enabling metals organizations to deliver substantial benefit by improving their performance.