Panel Discussion with Bekaert, Emirates Steel Arkan and ENGIE Impact
On climate action, the focus for interim (2030) targets is primarily on scope 1 and 2 emissions. Energy-intensive industries like iron and steel, cement, ceramics, chemicals and petroleum are characterised by a higher scope 1 & 2 emission intensity and often lower margin per ton of CO2e emitted, in comparison to the downstream companies in their supply chains. This makes their journey towards net zero on scope 1 & 2 much more challenging, both technically and financially.
The decarbonisation levers with a positive Net Present Value, such as energy efficiency, PPAs (usually) and selective electrification are typically insufficient to put the company on the right path to reach emission reduction targets. More expensive measures will have to be taken, which depend on the ability to pass on these costs downstream. The emergence of lower carbon and even net zero product markets is critical to create that demand and investment signal.
Hence, successful decarbonisation at the proper scale and pace depends on finding the right balance between footprint-wide, lever-specific programs and a targeted acceleration towards lower carbon and net zero products. Given the overall low maturity of their customers’ scope 3 initiatives, energy-intensive companies need to take the lead in driving collaboration in their downstream supply chains to make that happen.
Tune in to this one-hour discussion where Bekaert, Emirates Steel Arkan and ENGIE Impact share insights on this challenge through the lens of the steel supply chain, addressing critical success factors:
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