Understanding the demand for Green Steel, page-535

https://climateenergyfinance.org/wp-content/uploads/2024/01/Green-Steel-Supply-Chains-are-Australias-Top-Decarbonisation-Opportunity-31-Jan-24.pdf



The Federal Government’s $200m allocation from the Powering the Regions Fund to start todecarbonise parts of Australia’s steel-making supply chain is an important area of focus butmuch stronger incentives are urgently needed to reduce – not support new – fossil fuel poweredproduction, according to the Climate Capital Forum.

Protecting our remaining steelmaking capacity and skills base is strategically important forAustralia. But the Forum believes federal government capital investment of taxpayer money intothe steel sector should be aligned to decarbonisation gains commensurate with the nation’soverarching energy transition and emissions reduction commitments.As the world’s largest producer of iron ore, Australia has an enormous and time-criticalopportunity to invest in domestic green iron production and capitalise on accelerating moves todecarbonise steel production worldwide. We need to ‘learn by doing’ in the domestic context. Failure to do so is a massive strategic threat"

Tick tock tick tock.