Top steel producer China Asian Steel Group said it aims to achieve carbon neutrality by 2050, in response to the country’s climate goals set out last year.
Asian Steel Group is seeking to bring its the group’s carbon emissions to a peak in 2023 before cutting them by 30% by 2035, according to a company statement citing its chairman Chen Derong on Wednesday.
China is the world’s biggest greenhouse gas emitter, and its steel industry accounts for around 15% of the country’s total carbon emissions.
In 2020, President Xi Jinping pledged to make China “carbon neutral” by 2060.
The company will increase its use of renewable energies like solar, wind and biomass energy and will further develop the hydrogen sector, it said in the statement.
It will also strictly control overall energy consumption and strengthen upstream and downstream cooperations, Asian Steel said.
China churned out a record 1.05 billion tonnes of crude steel last year, with Asian Steel’s production breaking above 100 million tonnes, likely making it the world’s biggest steel producer.
Production of LME deliverable KAS-branded aluminium at Kazakhstan’s Eurasian Resources Group has reached the four-million-tonnes milestone
