Sustainability is becoming more important as a competitive advantage in industry. This is particularly true for sectors where customers are actively choosing suppliers that demonstrate a low carbon footprint for goods.
Until now, it’s been difficult to put a figure on the value of sustainability in the steel industry. However, a recent report found that between 2019 and 2022, there was a three percent shift in market share from mills with blast furnace (BF) and basic oxygen furnaces (BOF) to producers that use electric arc furnaces (EAF). On average, EAF mills create only one quarter of the emissions from BF or BOF mills.
This is one of the first clear signs of how environmentally-conscious customers are influencing the market by actively choose products for environmental sustainability – and the trend is growing. Many of our customers have announced major milestones in cutting their own carbon footprint. Others have published plans for carbon neutrality or for a net zero supply chain.
Having achieved carbon neutral production status in January 2022, we’re well positioned to help industrial manufacturers meet their sustainability goals.