Metallurgical coal expansion

Due to the dependence on coal for its production, the steel sector is responsible for 7% of global greenhouse gas (GHG) emissions and 11% of global CO2 emissions. For years, the lack of technological alternatives to produce steel without using coal has meant that the sector was not prioritized when it came to decarbonization efforts from financial institutions. However, thanks to recent developments, technologies now exist to produce fossil-free steel and are ready for roll-out. These developments make deep decarbonization of the steel sector possible. Financial institutions have a key role to play to make it happen.

Yet, companies are still developing new metallurgical coal projects. Immediate action to stop metallurgical coal expansion is necessary if we are to maintain the 1.5°C trajectory. Even more so as new metallurgical coal projects would not only considerably increase carbon emissions, it would also release huge quantities of methane in the atmosphere.

In this webinar, we will focus on key recommendations for financial institutions to include metallurgical coal in their decarbonization efforts, based on our upcoming report on metallurgical coal expansion. Dr Valentin Vogl, author of 'Steel Beyond Coal: Socio-Technical Change and the Emergent Politics of Steel Decarbonisation', will also give an overview of current issues and developments of coal-based steelmaking and the global transition of the sector.