BHP has increased metallurgical coal sales to India as a proportion of its global sales – from 26 per cent in 2019 to 38 per cent in 2021
Some of the world’s major steel producers have started trialling cleaner steelmaking processes that use hydrogen as a substitute for coking coal. However, traditional blast furnaces are projected to remain widespread for many years to come, requiring the industry to examine various other options to reduce carbon emissions.
Rajiv Mukerji, Tata Steel’s vice president of strategic procurement, on Wednesday said the company was working on several decarbonisation pilot projects including carbon capture, hydrogen-based steel-making and biomass.
“We believe strategic collaborations are vital in paving the way for innovations to accelerate the deployment of breakthrough technologies at scale and therefore this partnership with BHP is an important step for us,” he said.
BHP has increased metallurgical coal sales to India as a proportion of its global sales – from 26 per cent in 2019 to 38 per cent in 2021 – and increased its market share to 35 per cent in that time.
Amid mounting pressure from investors and wider society to respond to the worsening climate crisis, BHP has strengthened its climate ambitions, vowing to cut its direct emissions by 30 per cent by the end of the decade and hit “net-zero” emissions by 2050. Last year, it announced expanded targets requiring the shippers of its products and suppliers of goods and services to reach net-zero by 2050, as well as a “goal” for net-zero Scope 3 emissions across its entire value chain.
However, the Scope 3 pledge drew criticism from some shareholder advisory groups and climate campaigners because hard targets would not apply to the Asian steel mills that burn BHP’s coal and iron ore and make up the biggest share of its Scope 3 footprint.
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