Innovation and De-carbonization in the Canadian Steel Industry
The steel industry has faced pressure to reduce emissions for over 50 years in response to increasingly strict regulatory standards and to maintain its social legitimacy. It now faces a qualitatively different challenge to meet the new industry policy objective of Net Zero Carbon by 2050. Unlike in other industries, the transition is not simply a matter of addressing externalities or supplementary processes, but rather the core production technology for carbon steel itself. Further, it is precisely the highest value-added steel products for such products as electric vehicles and energy-efficient buildings that pose the greatest challenge of change. This study discusses policies and initiatives in the Canadian steel industry to achieve net zero emissions in the coming decades.
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