Top Steel Ranked Company Interview

 1. POSCO is ranked first and performs strongly across most key areas. It has a below average emissions intensity, and unlike several other steelmakers has demonstrated an ability to reduce its emissions intensity significantly in recent years. Its targets are consistent with a 2-degree sectoral decarbonization pathway as far as its target expiry in 2020. It has developed and commercialized a technology FINEX, providing incremental emissions reductions from steelmaking by eliminating sintering and coke oven processes. The technology has potential to be combined with CCS due to high concentrations of CO2 in waste gases. It also has other active projects to separate and capture CO2, and has undertaken early stage work on CCU and hydrogen-based steelmaking.



2.SSAB : ranks second. Its emissions intensity is low, driven by significant electric arc furnace (EAF) operations, and Europe-based blast furnace-basic oxygen furnace (BF-BOF) plants that it states benchmark as among the most carbon efficient globally. SSAB’s emissions reduction target is among the strongest of companies assessed. It recently announced a long term breakthrough emissions reduction project, HYBRIT, working toward a hydrogen-based steelmaking process using renewable energy that envisages elimination of almost all the process emissions of steelmaking. It is aiming for a working demonstration plant around 2025, with potential for commercialisation envisaged a further one to two decades after that.


3.ThyssenKrupp is ranked third. Its emissions intensity is the lowest of companies we assessed that focus on the blast furnace steelmaking route – only Hyundai Steel and SSAB with significant electric arc furnace operations have lower emissions intensities. Its water consumption intensity and water stress risk are also among the lowest we observed. It is pursuing a CCU project, Carbon2Chems, seeking to create usable chemicals from CO and CO2 waste gases from steelmaking, and has also participated in other collaborative breakthrough emissions technology initiatives. ThyssenKrupp’s executive remuneration framework shows the greatest alignment with low carbon goals among companies in our sample.

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