Les institutions financires doivent s'attaquer  l'addiction de l'industrie de l'acier au charbon

The steel industry is a major emitter of greenhouse gases due to its reliance on metallurgical coal, which accounts for 70% of global steel production. While many financial institutions have policies against thermal coal, they often exclude metallurgical coal. The document asserts that the 2020s are a critical decade for investment decisions, as existing plants reach the end of their lives and new capacity is needed. Transitioning the global industry to carbon-neutral technologies would require an additional annual investment of US$8 to US$11 billion, totaling US$235 to US$335 billion by 2050. The author urges financial institutions to stop funding new metallurgical coal mines and coal-based steel infrastructure, and to discourage the use of carbon capture, utilization, and storage (CCUS), which is viewed as a limited solution that perpetuates fossil fuel dependence. Furthermore, the document warns against 'two-speed' decarbonization strategies, citing ArcelorMittal's development of green hydrogen projects in Europe and Canada while continuing coal-based installations in India.

• The steel industry is a significant contributor to global emissions, producing 7% of global greenhouse gas (GHG) emissions and 11% of global CO2 emissions, largely due to the use of metallurgical coal (coke) in primary steel production, which represents 70% of current global output.
• Most financial institutions currently limit their coal policies to thermal coal, ignoring metallurgical coal based on the outdated belief that no viable sustainable alternatives exist, despite recent technological advances that make carbon neutrality by 2050 possible.
• The transition to carbon-neutral technologies in the global steel industry requires significant additional funding, estimated at US$8 to US$11 billion per year, with a cumulative additional investment of US$235 to US$335 billion by 2050.
• There is a risk of 'two-speed' decarbonization where companies develop green projects in some regions while expanding coal-based plants in others; for example, ArcelorMittal is developing hydrogen-based green steel in Europe and Canada but coal-based facilities in India.

APA

Martin, L. (2023). Les institutions financires doivent s'attaquer  l'addiction de l'industrie de l'acier au charbon. Reclaim Finance. https://reclaimfinance.org/site/2023/02/23/les-institutions-financieres-doivent-sattaquer-a-laddiction-de-lindustrie-de-lacier-au-charbon/

Chicago

Martin, Léo. Les institutions financires doivent s'attaquer  l'addiction de l'industrie de l'acier au charbon. Reclaim Finance, 2023. https://reclaimfinance.org/site/2023/02/23/les-institutions-financieres-doivent-sattaquer-a-laddiction-de-lindustrie-de-lacier-au-charbon/.

Wikipedia

{{cite press release |last1=Martin |first1=Léo |title=Les institutions financires doivent s'attaquer  l'addiction de l'industrie de l'acier au charbon |publisher=Reclaim Finance |date=23 February 2023 |url=https://reclaimfinance.org/site/2023/02/23/les-institutions-financieres-doivent-sattaquer-a-laddiction-de-lindustrie-de-lacier-au-charbon/ |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@misc{martin2023les, author = {Martin, Léo}, title = {{Les institutions financires doivent s'attaquer  l'addiction de l'industrie de l'acier au charbon}}, publisher = {Reclaim Finance}, year = {2023}, month = feb, url = {https://reclaimfinance.org/site/2023/02/23/les-institutions-financieres-doivent-sattaquer-a-laddiction-de-lindustrie-de-lacier-au-charbon/}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }