The International Renewable Energy Agency (IRENA) confirmed that the steel sector is one of the most important sectors contributing to climate change, as it is responsible for about 7% of global energy-related carbon emissions, according to its recently launched report entitled “Towards a Circular Industry.” Steel”, in collaboration with the Ministry of Environment, Forest and Climate Change, India.

The report was prepared at the request of the Presidency of the Group of Twenty (G20), where IRENA worked with the Indian Ministry, to highlight the importance of transforming the steel industry into a circular industry to face climate challenges, and to stress the need for international cooperation in this regard.

The International Renewable Energy Agency (IRENA) confirmed that the steel sector is one of the most important sectors contributing to climate change, as it is responsible for about 7% of global energy-related carbon emissions, according to its recently launched report entitled “Towards a Circular Industry.” Steel”, in collaboration with the Ministry of Environment, Forest and Climate Change, India.

The report was prepared at the request of the Presidency of the Group of Twenty (G20), where IRENA worked with the Indian Ministry, to highlight the importance of transforming the steel industry into a circular industry to face climate challenges, and to stress the need for international cooperation in this regard.

The report, which was issued coinciding with the meeting of environment and climate ministers in the G20 countries, which was held in the Indian city of Chennai on July 30, during which the group recognized that the steel sector is essential to comprehensive economic development, especially in developing countries, aims to facilitate discussion on Circular Steel Industry Under India’s G20 Presidency.

The International Renewable Energy Agency (IRENA) confirmed that the steel sector is one of the most important sectors contributing to climate change, as it is responsible for about 7% of global energy-related carbon emissions, according to its recently launched report entitled “Towards a Circular Industry.” Steel”, in collaboration with the Ministry of Environment, Forest and Climate Change, India.

The report was prepared at the request of the Presidency of the Group of Twenty (G20), where IRENA worked with the Indian Ministry, to highlight the importance of transforming the steel industry into a circular industry to face climate challenges, and to stress the need for international cooperation in this regard.

The report, which was issued coinciding with the meeting of environment and climate ministers in the G20 countries, which was held in the Indian city of Chennai on July 30, during which the group recognized that the steel sector is essential to comprehensive economic development, especially in developing countries, aims to facilitate discussion on Circular Steel Industry Under India’s G20 Presidency.

joint work

In its report, the agency indicated that the “G20” countries, which represent the largest economies in the world, produce about 85% of the world’s steel and are responsible for consuming about 80% of it, pointing to the possibility of joint action by the group to address the challenges and opportunities of the sector, which allows its transition Towards a more circular steel industry, which is one of the main priorities identified by the Indian G20 Presidency.

adoption of technologies

In this context, Francesco La Camera, Director General of the International Renewable Energy Agency, said in the report: “The adoption of circular principles accompanied by technologies based on renewable energy sources, as presented in this report, can help close the link in the material value chain of steel and reducing greenhouse gas emissions from the sector.

He added that the G20, through solidarity and collective action, can lead the way in implementing recycling by promoting the exchange of best practices, removing trade barriers, and setting common standards for sustainable steel production.

The importance of recycling

The report provides an overview of the main factors driving the environmental impact of steel products and the relevant pillars of increasing circularity in the sector, highlights the importance of recycling in it, and offers strategies to help create an innovative approach to improve its sustainability.