Strengthening Sustainability in the Steel Industry

People have used steel since ancient times, after blacksmiths discovered that iron became harder and stronger after being placed in charcoal furnaces. Today, steel is present in virtually every aspect of people's lives, from homes and hospital...

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Main Author:	World Bank
Format:	Working Paper
Language:	English
Published:	World Bank, Washington, DC 2022
Subjects:	SUSTAINABLE DEVELOPMENT STEEL MANUFACTURING COVID-19 IMPACT ON INDUSTRY IRON NATURAL RESOURCES ENERGY CONSUMPTION RENEWABLE ENERGY
Online Access:	http://documents.worldbank.org/curated/en/782481646906336787/Strengthening-Sustainability-in-the-Steel-Industry http://hdl.handle.net/10986/37145

id	okr-10986-37145
recordtype	oai_dc
spelling	okr-10986-371452022-03-17T05:10:45Z Strengthening Sustainability in the Steel Industry World Bank SUSTAINABLE DEVELOPMENT STEEL MANUFACTURING COVID-19 IMPACT ON INDUSTRY IRON NATURAL RESOURCES ENERGY CONSUMPTION RENEWABLE ENERGY People have used steel since ancient times, after blacksmiths discovered that iron became harder and stronger after being placed in charcoal furnaces. Today, steel is present in virtually every aspect of people's lives, from homes and hospitals to roads and other infrastructure that provide the foundation for social and economic development. Steel is among the world's most recycled materials, with circular economy practices incorporated into various stages of the production cycle. Yet the high-temperature heat vital to its production process still requires large amount of energy. Hence, the iron and steel sector remains among the largest consumers of energy and emitters of carbon dioxide, accounting for 6 to 7 percent of global greenhouse gas emissions.' With growing global concerns over climate change, regulators, investors, and industrial customers are increasingly pushing steelmakers to increase their sustainability by pursuing decarbonization pathways. To speed up the process will require incremental and breakthrough technologies, and the International Finance Corporation has been exploring opportunities to finance such projects and support steelmakers to become more sustainable. 2022-03-16T20:23:05Z 2022-03-16T20:23:05Z 2020 Working Paper http://documents.worldbank.org/curated/en/782481646906336787/Strengthening-Sustainability-in-the-Steel-Industry http://hdl.handle.net/10986/37145 English CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo World Bank World Bank, Washington, DC Working Paper Publications & Research
repository_type	Digital Repository
institution_category	Foreign Institution
institution	Digital Repositories
building	World Bank Open Knowledge Repository
collection	World Bank
language	English
topic	SUSTAINABLE DEVELOPMENT STEEL MANUFACTURING COVID-19 IMPACT ON INDUSTRY IRON NATURAL RESOURCES ENERGY CONSUMPTION RENEWABLE ENERGY
spellingShingle	SUSTAINABLE DEVELOPMENT STEEL MANUFACTURING COVID-19 IMPACT ON INDUSTRY IRON NATURAL RESOURCES ENERGY CONSUMPTION RENEWABLE ENERGY World Bank Strengthening Sustainability in the Steel Industry
description	People have used steel since ancient times, after blacksmiths discovered that iron became harder and stronger after being placed in charcoal furnaces. Today, steel is present in virtually every aspect of people's lives, from homes and hospitals to roads and other infrastructure that provide the foundation for social and economic development. Steel is among the world's most recycled materials, with circular economy practices incorporated into various stages of the production cycle. Yet the high-temperature heat vital to its production process still requires large amount of energy. Hence, the iron and steel sector remains among the largest consumers of energy and emitters of carbon dioxide, accounting for 6 to 7 percent of global greenhouse gas emissions.' With growing global concerns over climate change, regulators, investors, and industrial customers are increasingly pushing steelmakers to increase their sustainability by pursuing decarbonization pathways. To speed up the process will require incremental and breakthrough technologies, and the International Finance Corporation has been exploring opportunities to finance such projects and support steelmakers to become more sustainable.
format	Working Paper
author	World Bank
author_facet	World Bank
author_sort	World Bank
title	Strengthening Sustainability in the Steel Industry
title_short	Strengthening Sustainability in the Steel Industry
title_full	Strengthening Sustainability in the Steel Industry
title_fullStr	Strengthening Sustainability in the Steel Industry
title_full_unstemmed	Strengthening Sustainability in the Steel Industry
title_sort	strengthening sustainability in the steel industry
publisher	World Bank, Washington, DC
publishDate	2022
url	http://documents.worldbank.org/curated/en/782481646906336787/Strengthening-Sustainability-in-the-Steel-Industry http://hdl.handle.net/10986/37145
_version_	1764486624994918400

Strengthening Sustainability in the Steel Industry

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