China’s Baosteel unveils carbon reduction timeline

China’s Baosteel recently announced its carbon reduction plans with a timeline till 2050. The steel behemoth has said it will achieve carbon peaking by CY’23. It will equip itself with a 30% carbon reduction technology capacity by CY’25, and strive to reduce carbon by 30% in CY’35, and achieve carbon neutrality in 2050.

How will the goals be achieved?

Baosteel Co Ltd has clarified the basic path it will follow for carbon reduction, namely, technological reforms, energy structure optimisation and re-adjustment, speeding up research and development on new low-carbon metallurgical processes, and implementing technological innovations, as per a Lange Steel report.

The stress will be on reducing carbon with extreme energy efficiency, Zou Jixin, member of the Standing Committee of the Baowu Party Committee of China, Secretary of the Party Committee and Chairman of Baosteel Co Ltd, said, while speaking at company-organised seminar that aimed to study and implement the views on a comprehensive new carbon neutrality “1+N” concept issued by the Central Committee of the Communist Party of China and the State Council.

1+N will set the direction of China’s green transition and provide political guidance for its climate policies for years to come. It would be an opportunity for China to show it is serious about delivering its climate pledges ahead of COP26.

Way ahead

• At the meeting, officials from the Energy and Environmental Protection Department and the Carbon Neutrality Office of Baosteel Co Ltd unveiled important “dual-carbon” goals and action documents.
• Zou Jixin put forward requirements for the next phase of “dual carbon” goals of Baosteel Co Ltd, some of which are listed below:
  Further integrate the company’s thinking with the country’s policies. Baosteel Co Ltd will further implement the decisions of the Party Central Committee and the State Council on “dual carbon”, keeping in mind its mission and responsibilities. It will promote “dual carbon” goals in accordance with the requirements of the group company.
• All company units must earnestly take responsibility for green and low-carbon development as top priority in the new round of planning in accordance with the requirements of the company’s strategy.
• All units should study and formulate plans for related projects based on actual conditions, and accelerate the implementation of projects.
• Development policies and actual emission reduction processes must be properly handled. It is necessary to resolutely implement the decisions of the central government and, at the same time, take into account the actual development of the industry and enterprises, seize the opportunities, do a good job in green and low-carbon development, and achieve the “dual carbon” goals.